Breaking News - SBA and Treasury Announce PPP Re-Opening and Issue New Guidance

San Diego District Office

u s small business administration
paycheck protection program, PPP

The U.S. Small Business Administration, in consultation with the Treasury Department, announced on January 8, that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13. The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

This round of the PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through March 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan.

Learn more

ASCENT Launch was Postponed!!!

Join us on Monday, January 11th!

Announcing ASCENT - The online learning platform that is packed with resources women need to set and achieve their business goals.

On Monday, January 11th at 1:00pm EST (10:00 am PSTplease join SBA Administrator Jovita Carranza for the ground-breaking launch of ASCENT, SBA’s new, digital learning platform to help women small business owners get going and keep growing. ASCENT is a first-of-its-kind online resource specifically designed to help America’s nearly 10 million women entrepreneurs grow and scale their small business, using a modern, e-learning experience. All content is backed by research on the needs of empowering women business owners.

This virtual event will include:

  • Discussion panels with real women entrepreneurs
  • Success stories
  • Discussions about Disaster and Economic Recovery, Strategic Marketing, Business Financial Strategies, and Access to Capital.

Click here to register on Eventbrite –Launch of Ascent Digital Learning Platform for Women Tickets, Mon, Jan 11, 2021 at 1:00 PM | Eventbrite (10:00 am PSTSBA HQ will send you a link to access the Teams Live Event following your registration. 

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SBDC Live and On Demand Webinars How to Apply for the California Relief Grant! 

California Relief Grant Program - Administered by Lendistry (Webinars by America's SBDC California: San Diego and Imperial Network.

How to Apply for the California Relief Grant!

The state announced a $500 million grant program to help small businesses and nonprofits. The program is being administered by Lendistry, a nonprofit financial institution. To help, we have on-demand webinars you can watch in your own time to learn more. You can also reach out to us for assistance with the application process!

On-demand, in English

On-demand, in Spanish

On-demand, in Arabic

The SBDC's number one tip is this grant application isn't first-come, first-served – nor a rolling approval process. You need to make sure it's in before the NEW DEADLINE of Jan. 13 at 11:59 p.m., but make sure it's complete and accurate. 

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Small Business Training Calendar Links

The SBA and its resource partner organizations offer many workshops and training events (webinars), for entrepreneurs and small business owners, on an on-going basis. Please take a moment to review our upcoming events now, and bookmark the sites listed below for future reference. We look forward to seeing you at one or more of our future events.

SBA Calendar

SCORE San Diego

SBDC San Diego and Imperial Valley Network

San Diego & Imperial Women's Business Center

SOCAL Veterans Business Outreach Center

Procurement Technical Assistance Center

Articles, photos, events, and linked information included in this newsletter are for informational purposes only and do not indicate an endorsement by SBA of the views, opinions, products or services of any person or entity. SBA is not responsible for and does not endorse information posted on or linked from third party websites. All SBA programs and services are extended to the public on a nondiscriminatory basis.

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