La Verne

City of

Business Resources

  • Outdoor Business Applications
  • City Business Grant
  • Coronavirus (COVID-19): Small Business Guidance & Loan Resources:
  • Coronavirus Relief/Funding Options (PPP, EIDL & Emergency Economic Injury Grants, Debt Relief, and SBA Express Disaster Bridge Loan)
    • SBA Express Bridge Loan & Debt Relief – For existing federal loan holders
    • EIDL - Fundede by US Treasury through SBA; covers operating expenses during COVID-19
      • Up to $2 million @ 3.75% for 30 years w/ 11 month deferment
      • Can pay for operational costs (i.e. fixed debt, payroll)
      • May take 5-8 weeks for businesses to hear back re: status of EIDL
      • If businesses applied for EIDL before March 31st, then the EIDL confirmation should start w/ a “3” – if it does not start with a “3”, then you will need to reapply
    • EIDL Advance - $10 billion in new funding
      • Businesses are eligible for up to $10,000
      • of $1,000/employee
      • Advance is forgivable if business is declined for EIDL or if utilized for allowable expenses (i.e. payroll)
      • EIDL advance must be requested in EIDL application (check the box for this) & must be sent within 3 days of application
      • EIDL approval is not required to be approved for an advance
      • If you submitted an EIDL application before March 30, 2020, you must resubmit your application to access the Advance
    • PPP - $320 billion in new funding
      • Up to $10 million @ 1% APR for 2 years w/ 6 month deferment
      • Capped at $100k/employee not to exceed $10 million
      • 5x the average monthly payroll costs incurred during the year prior
      • Loans may be forgivable if terms are met
        • Loan forgiveness cannot exceed the principal
        • Amount forgiven is equal to the amount you spend on these items during the 8 week period following date of origination on your loan: payroll, rent, utilities, interest on mortgage
        • 75% of loan must be made to payroll 
        •   pdf PPP Round 2 Lender List (3.07 MB)

San Gabriel Valley Economic Partnership

U.S. Chamber of Commerce

La Verne Chamber of Commerce

Additional Information