Small Businesses

COVID-19 Child Care Relief Program

Eligibility: Child care businesses and nonprofits located within Orange County, that have been affected by COVID-19

Important Dates: Application period opens October 30 at 9 am through November 13 at 5 pm. Awarded funds must be expended by December 30, 2020

Description: The COVID-19 Child Care Relief Program provides child care business and nonprofits affected by COVID-19 grants in varying amounts depending on eligibility. Grant funds can be used for payroll, supplies, mortgage or rent, and learning space improvements related to COVID-19. Grants will be awarded on a first come, first served basis.

Economic Injury Disaster Loan Program

Eligibility: Small business (less than 500 employees), sole proprietorships, independent contractors, self-employed persons, private nonprofit organizations, 501(c)(19) veterans organizations

Important Dates: Application Available Now

Description: The Economic Injury Disaster Loan (EIDL) is a loan up to $2 million with an advance of up to $10,000 designed to provide immediate relief to small businesses. This loan will provide economic relief to businesses that are currently experiencing a temporary loss of revenue due to COVID-19. The loan advance does not have to be repaid. Funds will be made available through the Small Business Administration (SBA) following a successful application process. 

Main Street Lending Program

Eligibility: Small and mid-size businesses employing 10,000 or less employees or with revenues less than $2.5 billion

Important Dates: Ongoing

Description: The Federal Reserve is establishing a Main Street Lending Program to support lending to small and medium-sized businesses that were in good financial standing before COVID-19 pandemic. A reserve bank will set up a special purpose vehicle (SPV) to purchase 95 percent of loans originated by eligible lenders and lenders will retain 5 percent of the loans. Loans may be obtained through eligible lenders and will have a four-year maturity with a one-year principal and interest payment deferral. The Federal Reserve is currently working to create the program.

Refundable Tax Credits

Eligibility: Businesses with fewer than 500 employees that are subject to Emergency Paid Sick Leave Act (EPSLA) and Expanded Family Leave Medical Act (FMLA) and certain self-employed individuals in similar circumstances     

Important Dates: Credits based on wages and leave paid April 1, 2020 – December 31, 2020 

Description: The Families First Coronavirus Response Act (the "FFCRA") provides small and midsize employers refundable tax credits that reimburse them, dollar-for-dollar, for the cost of providing paid sick and family leave wages to their employees for leave related to COVID-19. The FFCRA gives businesses funds to provide employees with paid leave for reasons related to COVID-19 and covers the costs by providing businesses with refundable tax credits. Additional information about eligibility, and how to claim these credits can be found online.

Employee Retention Credit

Eligibility: Employers and tax-exempt organizations operating in 2020 experiencing either suspension in operations or significant decline in gross receipts as defined 

Important Dates: Qualified wages paid after March 1, 2020 and before January 1, 2021   

Description: The Employee Retention Credit is a refundable tax credit against certain employment taxes equal to 50 percent of the qualified wages an eligible employer pays to employees after March 12, 2020, and before January 1, 2021. Eligible employers can get immediate access to the credit by reducing employment tax deposits they are otherwise required to make. If the employer’s employment tax deposits are not sufficient to cover the credit, the employer may get an advance payment from the IRS.