San Diego, CA – Small businesses and the local economy are being heavily impacted by the COVID-19 Pandemic. The San Diego and Imperial Small Business Development Center Network (SBDC) is staying up to date with federal, state, and local public health officials to make sure the small business community has the current information, advice, programs and resources including access to capital at this critical time.
“The San Diego and Imperial SBDC Network is encouraging all small businesses to be pro-active and realize this is going to be a long road to recovery. The key is to remain calm and contact your SBDC team of expert business advisors. They are here to help small businesses apply for local, state and federal assistance programs as well as create and implement a strategy to weather the storm and stay afloat”, states Marquise Jackson, Regional Director San Diego and Imperial SBDC Network. “We are asking people to support their local small businesses by posting positive reviews, patronizing open businesses, purchasing gift cards, using cash and being respectful”, continues Jackson.
The San Diego and Imperial SBDCs provide small business owners with business advising in all realms of how to start, manage and grow a business including accessing capital, SBA Disaster Loans, marketing, business planning, profitability analysis, resources and most workshops at no cost to them. These services are currently available online or via telephone. Small business owners can schedule a counseling appointment for free at www.SDIVSBDC.org (click “request counseling” to sign up). In 2019, the San Diego and Imperial SBDCs helped small business owners create or retain 11,000 employees, start 200 new businesses, obtain over $102M in capital and increase sales by $60M.
SBDC consultants assist small business owners with the SBA’s “Economic Injury Disaster Loan” providing working capital loans of up to $2M with deferred payments for one year. The SBA has also increased the amount of 7A loans available. There is assistance from the State of California including no waiting period for unemployment claims. Local, state and federal officials are working to help with delaying tax filings, lowering interest rates, loans, unemployment and more. SBDC consultants are here to help small businesses access these programs acting as a conduit and advocate with these agencies saving time and money.
“Our goal at the SBDC is to inspire and keep small businesses up and running by connecting them with resources, information, access to capital, loans, unemployment and other programs to help them survive this crucial time. Companies looking for working capital will need their 2019 and prior years financials as well as a documented forecast of the impact of Covid-19 on the business. The SBDC is committed to staying up to date with federal, state, and local policies and assistance to help small business owners thrive”, explains Jackson.
The San Diego and Imperial SBDC Network is coordinating services with local state and federal stakeholders including: the California Governor’s Office of Business and Economic Development (Go-Biz), the San Diego Regional Economic Development Corporation, the Small Business Administration, the County of Imperial, and the County of San Diego.
“The situation is changing so quickly, we are encouraging small businesses to monitor these websites as well as following the current recommendations from federal, state and local public health officials. Please utilized SBDC’s expert business advisors. They are here to guide small business through this crisis at no cost to them. We are open for business online,” continues Jackson. Visit SDIVSBDC.org to request counseling and follow us on Social Media.