NEW
Riverside County COVID-19 Small Business Assitance Program
The County of Riverside & AmPac Business Capital are partnering to provide emergency and ongoing capital for small businesses in Riverside County!
Microloans are available in the following cities:
Ineligible Business Types
- Banning
- Blythe
- Coachella
- Eastvale
- Lake Elsinore
- Norco
- San Jacinto
ALL unincorporated communities of Riverside County.
- Beaumont
- Canyon Lake
- Desert Hot Springs
- Indian Wells
- La Quinta
- Murrieta
- Wildomar
- New/Startup Business
- Residential or real estate projects
- Non-profit companies
- Casinos/gambling establishments
- Gun Shops
- Adult-entertainment related
businesses - Cannabis-related businesses
Ineligible Business Types
- New/Startup Business
- Residential or real estate projects
- Non-profit companies
- Casinos/gambling establishments
- Gun Shops
- Adult-entertainment related
businesses - Cannabis-related businesses
Microloans up to $25,000
TARGET: small businesses with fewer than five employees
- Interest Rate: 0%
- Term: 1 year (12 months)
- No payments for the first three months
- Forgivable: must remain in business for three months and retain existing employees; payroll records will be required with application and at the
time of loan forgiveness
FEE: None for microloans
REQUIRED DOCUMENTATION
- Payroll records documenting existing payroll
- Certification that information is accurate and true as presented
- One year of the most recent business and personal tax returns, year end
- 2019 financial statements are acceptable (balance sheet/income statement)
- Statement of COVID-19 impact (checklist provided)
- Must demonstrate negative impact from COVID-19 (owner must provide proof of 25% or more profit loss due to COVID-19 from January 31, 2020 to the date of the application)
- Business owner meets income limit – 80% Median Income: as of 07/01/2020, these are: 1* (42,200); 2(48,200); 3(54,250; 4(60,250); 5(65,100); 6(69,100); 7(74,750); 8(79,550)-*# of persons/Household.
Get Started by Applying Online
Download Program Information
SBA COVID-19 Economic Injury Disaster Loan Application
"In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid."
Small Business Owners are urged to apply on this streamlined application.
Riverside County COVID-19 Business Grant Program
AmPac has teamed up with Riverside County to provide small businesses in Riverside County with more than $500,000 in loans to assist with COVID19 Recovery. All funds for the Re-Start Loan program have been exhausted, thus the program is closed.
Businesses that meet CDBG Loan requirements may still access loan funds. See details.
Riverside County has launched a new Grant program to assist businesses who have not received a PPP Loan or EIDL or support from its COVID19 Loan program.
Find all the details to apply by clicking the button below.
SBA Disaster Loans for Businesses
Helpful Information and Guidelines
Information from the U.S. Small Business Administration is continuously trickling in and they are providing additional information and guidance to businesses through the following link to their Small Business Guidance & Loan Resources website.
Part of what we know for sure is that the COVID-19 related Economic Injury Disaster Loan was just announced, and the magnitude of the situation is rather overwhelming. While the President has declared a national emergency, each State must also be declared as a disaster area for any businesses in that State to be eligible. This determination is county-by-county and many of the counties that we serve have been declared a disaster area in the state of California. We are working to get more information that we can ultimately push out to businesses such as yourself.
SBA Disaster Loan Faith-Based FAQ
SBA COVID-19 Relief Programs at a Glance
Information and Applications
What You Need to Know About the New CARES Act
Below are resources to help you understand the NEW CARES Act to help your business.
Paycheck Protection Program
PPP Applications have been Extended Through August 8th. Please see documents required and attached (please use these updates).
AmPac can assist in referring businesses to lenders administering the PPP Program.
Here are the documents you need for download.
Loan Forgiveness Application Instructions for Borrows
To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to AmPac Business Capital (or the Lender that is servicing your loan).
Here are the documents you need:
List of Lenders Serving Non-Existing Customers
Provided in the downloadable document are direct links to each bank's website. Please note some are actually fully automated and everything can be submitted online, others are using a secured file-sharing system that you can upload your documents after speaking to one of their representatives.
Do you have questions for us?
We care about you and are here to help with any questions you have. Call us at (909) 915-1706 or click the button below and fill out our contact form.