Did you receive a Paycheck Protection Program (PPP) loan or COVID-19 Economic Injury Disaster Loan (EIDL)? Starting March 4, 2024, the U.S. Small Business Administration (SBA) will begin referring defaulted PPP and COVID-19 EIDL borrowers with loans under $100,000 to the U.S. Treasury Department and the Internal Revenue Service for collection.

Important: you must apply for PPP loan forgiveness or bring your COVID EIDL loan into good standing before March 3, 2024.  

Take the following steps before March 3, 2024: 

1. Apply for PPP loan forgiveness online at www.sba.gov/PPPForgiveness.
2. Bring your COVID-19 EIDL into good standing. 

After this date, defaulted borrowers may accrue additional non-forgivable fees, fines and face other collections actions. 

More Information here. 

The Small Certified Supplier Innovative Finance Program is designed to engage diverse suppliers in educational funding readiness training and funder matching to support capacity building. The Program is a component of the Initiative for Inclusive Entrepreneurship, a national effort to ensure equitable access to the U.S. Dept. of the Treasury's historic $10B State Small Business Credit Initiative. Certified suppliers headquartered in eligible states will receive a $5,000 grant, totaling $200,000 in growth capital. Deadline to apply is March 4, 2024.  

Program Eligibility Requirements include:

1. Annual revenues between $250,000 and $10 million.
2. Business-to-Business (B2B) or Business-to-Government (B2G) business model.
3. Business holds active small business certification issued by national or state-based organizations. 
4. Business is headquartered in California or another eligible state.

Have any questions or need support completing your application? Send your requests to Founders First Capital Partners at RBFinfo@f1stcp.com.

Potential Tax Relief for Commercial Property Owners in Santa Clara County

In response to current market conditions of commercial property, the Santa Clara County Assessor’s Office has opened the informal Proposition 8 (Prop. 8) review process more than four months early.  The California Revenue & Taxation Code authorizes the Assessor's office to temporarily reduce property tax assessments when they exceed a property’s market value as of January 1, 2024. Prop. 8 relief requests can be submitted through August 1, 2024. 

To learn more about how to apply for temporary commercial property tax relief, visit the Santa Clara County Assessor's website here, or call the County at (408) 299-5300. 

More information here. 

SBDC Workshop: Financing, Business Start-up/Preplanning

Embark on a journey to financial empowerment for your business with an exclusive virtual presentation by the Lead Lender Relations Specialist, Marlow Schindler, from the US Small Business Administration’s San Francisco District Office. This session is designed to demystify and illuminate the various facets of SBA loan programs 7a, 504, Community Advantage, and SBA Microloans. 

DATE: March 20th

TIME: 3PM - 5PM

FORMAT: Online Meeting (Live)

Register Online Here. 

Limited Outdoor Furnishings Grant Program Funding Available

In 2023, the City of Mountain View released the Small Business Outdoor Furnishings Grant Program providing  eligible businesses with one-time grants of $5,000 for the purchase of outdoor furnishings utilized by the public. The City is accepting applications until the funds are depleted.

Review eligibility and apply online here.