Small Business Resources for Uncertain Times

OnePiece Work
April 14, 2020
OnePiece Work

Above all else, OnePiece Work is a community. In times like this, giving our members the resources they need to thrive is more than just a mission - it’s our inspiration. The OnePiece Work Community Management Team has compiled a list of federal, state, and private grants that small businesses can leverage to survive this market downturn and emerge stronger than ever. Read on to find what’s best for you.

At The Federal Level

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As part of an overall package expected to cost more than $2 trillion, the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides more than $360 billion in immediate loan assistance for small businesses, including an expanded Economic Injury Disaster Loan (EIDL) Program and the Paycheck Protection Program (PPP).

Economic Injury Disaster Loan (EID Loan)

This is an expansion of a current SBA Disaster Assistance loan program; loans are covered through December 31, 2020. Loans are made directly by the SBA and are intended to provide assistance for companies experiencing economic injury as a direct result of the Coronavirus pandemic.

Loan amounts may reach $2 million, and loans over $200,000 must be personally guaranteed by an owner having at least a 20% interest in the borrower.

Loan proceeds may be used to cover fixed debts, payroll costs, accounts payable, and other bills that cannot be paid as a direct result of the pandemic’s impact. Loan funds cannot be used to refinance existing debt, fund business growth of any kind, including infrastructure projects. EID Loans also have an Emergency Advance feature, which is the immediate (within 3 days) payment of $10,000 to the applicant, which does not have to be repaid, even if the application is later denied.

EID Loans do not have the same forgiveness flexibility as PPP Loans, and are expected to be repaid.

Other general loan terms include:

  • Interest rate: 3.75% for small businesses; 2.75% for non-profit organizations
  • Payment terms: intended to be long-term loans, but up to 30-year terms. Loan duration determined on a case-by-case basis
  • Payment deferral: initial payments may be deferred up to 12 months of Administration
  • EID loans can be applied for directly with the SBA

When can you apply? NOW.

Where can you apply? Thought the U.S. Small Business Administration.

Who can apply? Businesses, cooperatives, ESOPs, or Tribal businesses with 500 or fewer employees, that were in operation as of January 31, 2020; individuals acting as a sole proprietorship or independent contractors are also eligible.

Paycheck Protection Program
The Paycheck Protection Program (PPP) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. Loan terms will be the same for everyone, and loan amounts will be forgiven as long as:

  • The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made
  • Employee and compensation levels are maintained
  • Payroll costs are capped at $100,000 on an annualized basis for each employee

Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to the likely high subscriptions, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs. Loan payments will be deferred for 6 months.

When can you apply?

  • Starting April 3, 2020, small businesses and sole proprietorships can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
  • Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
  • Other regulated lenders will be available to make these loans as soon as they are approved and enrolled in the program.

Where can you apply? You can apply through any existing SBA lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating. Visit for a list of SBA lenders.

Who can apply? All businesses – including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors – with 500 or fewer employees can apply. Businesses in certain industries can have more than 500 employees if they meet applicable SBA employee-based size standards for those industries.

Can you get an Economic Injury Disaster Loan (EIDL) and a Paycheck Protection Program Loan (PPP)?  Yes, you can get both loans, but the key is to use the money to cover different expenses. Section 1102(a)(2)(G), the section outlining the PPP loans, explains the borrower requirements. It says the borrower has to certify that “the eligible recipient has not received amounts under this subsection for the same purpose and duplicative amounts.”

As a reminder, EIDLs can be used to cover:

  • Paid sick leave to employees unable to work due to the direct effect of COVID-19
  • Maintain payroll
  • Increased costs due to supply chain disruption
  • Rent or mortgage payments
  • Repaying obligations that cannot be met due to revenue loss

PPP loan funds can be used to cover:

  • Payroll costs
  • Group health care benefits during periods of paid, sick, medical, or family leave, and insurance premiums
  • Interest on a mortgage obligation
  • Rent, under lease agreements in force before February 15, 2020
  • Utilities, for which service began before February 15, 2020
  • Interest on any debt incurred before February 15, 2020

So, if you’re receiving an EIDL to cover payroll expenses, you can’t get a PPP to cover payroll for the length of the forgiveness period (eight weeks from when the loan is due). You would have to use the EIDL for different operating expenses or payroll for a different period. This will also go for other state or local assistance.

Are these the only loans available? No, these are government funded loans directly in response to Covid-19. Private loans are also available.


For a full list of federal grants, click here.This is the official access point for grants administered by government agencies. This federal portal offers eligibility information and deadlines on all federal government agencies offering grants. It even streamlines the application process - saving you time and money. Get extensive information on over 1,000 small business grants from their global database.

At The State Level

California has Financial and Technical Assistance for small businesses offering a loan loss reserve program and disaster relief loan guarantee program Jump Start loan program. Also, the California EDD has a Work Sharing Program to help employers minimize layoffs.

San Francisco

The city’s new Small Business Emergency Loan fund will offer loans with a flexible repayment schedule and terms determined on a case-by-case basis, based upon each borrower’s ability to repay. Applications will be made available by April 6, 2020. For more information click here.

Los Angeles

The newly established Small Business Emergency Microloan Program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.

Loan Limits: $5,000 to $20,000

Interest Rates:

  • Option 1:  0% for a term of up to 18 months, with repayment deferred for up to 6 months
  • Option 2:  3% for a term of up to 5 years, with repayment deferred for up to 12 months (for profit businesses)
  • Option 3:  2% for a term of up to 5 years, with repayment deferred for up to 12 months (for tax-exempt businesses)

Eligible Borrowers: For-profit and tax-exempt businesses in the City of LA with 100 or fewer employees that have been negatively impacted by the COVID-19 outbreak and will make their best effort to continue or re-establish their business operations and employees.

Certification: Business must have a Business Tax Registration Certificate with the City of Los Angeles' Office of Finance that was filed prior to March 01, 2020.

Credit: There is no credit minimum, however the principal business owner(s) must have reasonable and responsible personal credit history and an acceptable explanation for any derogatory marks. Bankruptcies and debt write-offs must be at least 12 months old.

Cash Flow: Businesses must show that historical profits would have been sufficient to service the requested debt and that they have been impacted by the COVID-19 outbreak.

Location: Primary business operation must be physically located in a commercial–use building within City of Los Angeles boundaries.

Collateral: Evaluated on a case-by-case basis.

Required Guarantors: All business owners who hold 20% or more ownership must guarantee the loan.

Co-Signer: A co-signer with reasonable credit and sufficient income to repay the loan can be included as a guarantor to mitigate weaknesses in the loan request.

For more detailed information, email the EWDD Emergency Microloan Management Team at or call 213-744-7130.

Other Small Business Resources

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Facebook Small Business Grants Program

Facebook announced that it will offer $100 million in cash grants and ad credits to as many as 30,000 small businesses across 30 countries. As of March 23, they weren’t yet taking applications but you can sign up to receive updates about the program here. They say applications will open in the coming weeks. Facebook also launched a Business Resources Hub to help guide businesses.


Offering free ad credits to SMBs with active ad accounts.


Offering $25 million in waived advertising fees, free advertising, products, and services to small businesses, mainly local restaurants and nightlife establishments, that have been impacted by coronavirus.

National Federation of Independent Business

Providing free legal resources and assistance for small businesses.


Making paid meeting functionality, quotes, e-sign, and 1:1 video creation tools completely free for 90 days from when they're activated by the user.

Community Banks

Local community banks accepting PPP applications:

For even more in-depth relief resources for startup founders and small business owners, read this article from OnePiece Work community member Jacob Sheldon.

Most importantly, remember that we’re in this together! OnePiece Work is here to help you survive - and even thrive - during these uncertain times. Subscribe to our email newsletter for more insight, advice, and help for small businesses.


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