By Holly Schroeder, President/CEO of SCV Economic Development Corp.
The COVID-19 pandemic has brought unprecedented challenges to SCV companies. From forced closures of “non-essential businesses” to ever-changing rules for operating those businesses that are considered essential, it’s imperative that companies stay on top of the rapidly changing information.
The Santa Clarita Valley Economic Development Corporation (SCVEDC) is committed to providing you with information and resources to help your company navigate the coronavirus crisis. We have created an information page to help you stay current on city, county and state orders, as well as provide you with links to resources that will help your company recover. Visit scvedc.org/coronavirus for more information. Updates are being made to this page daily.
Here are just a few resources featured on the page to help you or your company during this challenging time:
Pandemic unemployment assistance
As part of the federal CARES Act, the new Pandemic Unemployment Assistance (PUA) program helps unemployed Californians who are business owners, self-employed, independent contractors, have limited work history and others not usually eligible for regular state unemployment insurance benefits who are out of business or services are significantly reduced as a direct result of the pandemic. Applications opened April 28.
Treasury announces new lending programs to provide up to $2.3T in financing
Using funds appropriated under the CARES Act, the Treasury will make a $75 billion equity investment in a special purpose vehicle established to implement the Main Street Business Lending Program.
This investment will enable up to $600 billion in new financing for businesses with up to 10,000 employees or $2.5 billion in 2019 annual revenues.
OnwardCA is an initiative of companies, foundations, and humans to get California workers displaced by COVID-19 essential life services and back to work as quickly as possible.
In addition to the coronavirus resource page, SCVEDC is offering upcoming webinars and is continuing business assistance outreach via phone consultations. Our team is here to help.
Contact the office at (661) 288-4400 or send us an email at [email protected]. Visit www.scvedc.org/coronavirus for more information about the coronavirus in SCV. ν