Shasta Cascade SBDCRedding California


This page will be updated regularly as more information comes through.

Latest Updates: Thursday, July 8th, 1:45 pm

*Shasta-Cascade SBDC is here -- we are answering phone and email; producing webinars; and meeting with clients via phone or Zoom.​



  • Things are changing all the time.
  • This information was correct when stated but... 
  • Don't hesitate to apply for the EIDL or PPP when it becomes avilable again. *Always check with your investors or partners before applying for any debt.*
  • We do not have access to check on status of your SBA EIDL loan request --Please be patient.
  • SBA states that loan in queue will be reviewed for possible loans.
  • We cannot provide legal advice for your business. But can share relevant information based on the information we receive (again, this information is changing all the time).


The deadline to apply for the PPP forgivable loan (the funding portion) has been extended to August 8th, 2020 (or until the funds run out - whichever comes first). *We are still awaiting final instructions regarding the "PPP Forgiveness Application".


7/2/20 On July 1st the Redding Chamber made this announcement: "The Cities of Redding, Shasta Lake and Anderson, in partnership with the Redding Chamber of Commerce are excited to announce a special COVID-19 Relief Grant Program for Micro-Enterprise Businesses. The program is designed to provide $5,000 in grant funding to about 140 of the smallest brick and mortar businesses in the greater community – those that were likely hit the hardest during the pandemic. To qualify for the grant program, a business must have five or fewer employees, including the business owner, and must be a for-profit business that operates within Redding, Shasta Lake, or Anderson."**The one for Anderson has yet to be officially approved (as of 10am 7/2) but should go through soon** For more information go to the Redding Chamber website or view the application on the City of Redding Website. 


6/16/20 The Economic Injury Disaster Loan (EIDL) portal is once again available to small businesses.  You can access the online application here:


6/15/20. Updates to the PPP Borrower's Application form (for those who have not yet successfully applied), and Revisions to Interim Final Rule on June 12th posted. Go to the U.S. Treasury website to view these and other PPP documents.


6/8/2020 SBA Press release on PPP Flexibility that was signed on 6/5/20.


As of 6/5/20. New legislation was signed this morning with changes to the PPP. What we currently know:

  • 5 year term loan instead of 2yr
  • Covered period extended to 24 weeks or 12/31/20; whichever comes earlier.
  • Increased covered period means up to 4 more months of allowed expenses could be included
  • Allowed expenses (non-payroll) are increased from 25% to 40% of proceeds
  • MUST spend AT LEAST 60% toward payroll in order to receive ANY forgiveness
  • Payroll Tax can be deferred -even if you received PPP!
  • Recipients have until 12/31/20 to restore FTE’s (Full time employees)
  • Any business who received their loan prior to the law's signing has the choice between using the 8 week or 24 week period

*We do not have details yet for the PPP changes but do hope to have more clarity in the coming days/weeks.



New updates to the PPP loan forgiveness rules and FAQa on the U.S. Treasury Website. More guidelines expected from the SBA/U.S. Treasury in the coming days/weeks.



Latest updates for the PPP -- PPP forgiveness application:

-NEW info/clarification on PPP Forgiveness application (and we hope to get even more clarification later this week on the PPP forgiveness)
-Over $100 Billion still available with the PPP as of 5/18/20
-List of potential lenders for the PPP


The SBA EIDL portal (for the "up to $10k" advance plus the loan portion) is back up on the SBA website. 

 If you are having trouble viewing it you may need to do one or more of the following:

1. try a different browser
2. restart your computer
3. clear your "cache"/browsing data

Do NOT reapply if you already applied with this streamlined application (they are taking awhile to get everything processed).


"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 UI benefits who are out of business or services are significantly reduced as a direct result of the pandemic. The provisions of the program include:

Up to 39 weeks of benefits starting with weeks of unemployment beginning February 2, 2020, through the week ending December 26, 2020, depending on when you became directly impacted by the pandemic.
A new 13-week federal extension for those who run out of their regular state-provided UI benefits (maximum 26 weeks). File a PUA claim and you may be converted to the federal extension once it is available."


The SBDC has a new, centralized phone number and email address, supported by experienced financial advisors, to help entrepreneurs and business owners navigate the Economic Injury Disaster Loan (EIDL) program and the Paycheck Protection Program (PPP).  

The phone number is (833) ASK SBDC -- or (833) 275 7232

The email address is

Of course, you are also welcome to call or email our local center as well: (530) 222 8323

And remember, on Mondays, Wednesdays and Friday, you can join our free webinar at 10:30 am to get the latest updates and ask any questions you might have.  At the scheduled time, click here to join:


PPP (Paycheck Protection Program)

Submitted a PPP application and have questions about its status?  Check with your bank or financial institution where you applied.

Applications are submitted to local financial institutions (try the bank you're doing business with first)

We have been informed that PayPal, Intuit and Square have been approved and are (or soon will be) accepting PPP applications.

  • INTEREST RATE – 1.0%
  • TERM – Two (2) years
  • MAXIMUM LOAN AMOUNT - $10,000,000
  • PAYMENTS – Deferred for (six) months. (Interest continues to accrue.)
  • COLLATERAL - No collateral or personal guarantees required
  • FORMS NEEDED BY BORROWER – 1. SBA Form 2483 (PPP Application); 2. Payroll documentation (These can be payroll processor records, payroll tax filings, or Form 1099MISC, or income and expenses from a sole proprietorship.)
  • 75% RULE: At least 75 percent of the PPP loan proceeds shall be used for payroll costs. For purposes of determining the percentage of use of proceeds for payroll costs, the amount of any EIDL refinanced will be included.  For purposes of loan forgiveness, however, the borrower will have to document the proceeds used for payroll costs in order to determine the amount of forgiveness.
  • LOAN FORGIVENESS: The amount of loan forgiveness can be up to the full principal amount of the loan and any accrued interest. The borrower will not be responsible for any loan payment if the borrower uses all of the loan proceeds for “forgivable” purposes and employee and compensation levels are maintained. 

As of 5/16/20, 505,798 PPP loans (amounting to over $66.5 billion) have been approved in Califrornia.  Nationwide, over 4 million applications and $513.2 billion have been approved.


 Economic Injury Disaster Loans (EIDL) - working capital loans to help small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are intended to assist through the disaster recovery period. [as of 5/19/20 new EIDL applications are currently only open to Agricultural businesses. We do expect this to open back up to other businesses again at some point but do not know for sure.]

Submitted an application on the EIDL online portal and want to know its status?  Call the SBA help line at 800 659 2955 (open 24/7; it may be best to call during off-hours to avoid long wait times) or email -- make sure you provide your reference number.

Application on the SBA website

Things keep changing as these processes are put in place . . . this is the latest information we have at this writing:

  • If you apply for an EIDL loan, you can ask for and receive up to $10K in "advance"; the amount is based on the number of employees you report ($1,000 per employee; as a business owner in a sole proprietorship, you count as an employee)
  • The advance does not have to be paid back
  • If you applied before 3/31 (i.e. were not asked if you wanted the $10k advance) and you want the $10k advance, reapply on the new streamlined application here. *You will not lose your place in the que*

Credit Requirements for EIDL:

  • Repayment – Applicants must show the ability to repay the loan.
  • Collateral – Collateral is required for all EIDL loans over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.
  • 3.75% interest rate for for-profit small businesses
  • Terms up to 30 years
  • Initial payment deferrals
  • Maximum loan amount: $2 million
  • No points, no fees
  • Business owners (20%+) may need to personally guarantee loans
  • Credit scores and history are considered on a case-by-case basis

Make sure you have your financial statements in order. With an up to date P&L and Balance sheet from at least 2019 AND the current year to date for 2020.

No cost to apply; will not impact your credit score to apply; if you get rejected call the SBDC (we might can help your case).

Information about these programs can be found here:

If you have any questions about this process, contact us: (530) 222-8323 or 

The process continues to be fluid; there have been many changes and updates in the past several days.  We are working to keep up-to-date information on our website at:


Unfortunately, scams are growing; our advice is to NOT pay for any service that offers to help you with your application.  We are funded by the SBA and the State of California to help you at no cost.



  • urge employees who don't feel well to stay home
  • revise sick leave policies to address this current unique situation
  • use technology (Zoom, Go To Meeting . . . even the telephone) for meetings whenever possible
  • "ditch the handshake" 

This is a terrific article, effectively illustrating the concept of social distancing:

Earlier Updates (March 2020)


Financial Help

Access to capital programs remain in place, including special disaster assistance at the state and federal levels.


As concerns continue about coronavirus (COVID-19), we’re here to help you navigate available resources, answer your business questions and be a trusted partner for your business
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Funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA or HSU Sponsored Programs Foundation.