In an effort to alleviate the financial sufferings the COVID-19 pandemic has had on struggling local small businesses, the City of Carson has partnered with the California Community Economic Development Association (CCEDA) to start the Carson Small Business Coronavirus Business Assistance Program.
The program, which launched April 26, is meant to pair eligible small businesses with an individual consultant who can guide them through the pandemic. Consultants provide general business advice as well as aide in applying for Coronavirus relief options like the Emergency Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) offered through the US Small Business Administration.
Along with the partnership, the City took steps to provide further small business assistance. On April 21, the council unanimously established the Carson Coronavirus Disaster Small Business Loan Program. And on May 5, they approved the Business License Tax Refund Request application.
The loan program could grant applicants, who have yet to receive financial assistance, emergency loans up to $10,000 with interest rates as low as 0%. The tax refund could provide a portion of license refunds for businesses which ceased operations beginning since March 1.
All for-profit Carson businesses and non-profit organizations with 2 to 50 employees are eligible so long as they can demonstrate a 25% drop in revenue since January 1. However, preference will be given to applicants based on the number of years the establishment has operated and/or done business with the City of Carson, the number of Carson residents employed, and whether the owner is a Carson resident.
As of July 7, six businesses were able to get their loans approved and funded through the program totaling $750,000. Additionally, the city’s Small Business Loan Program has given 6 local businesses $10,000 each thus far.
Small Businesses that meet the eligibility requirements can complete a loan inquiry form at carson.cceda.com or call (213) 348-7504 to receive consultation. The Paycheck Protection Program has stopped accepting applications as of Aug. 8.