For Stanislaus, Tuolumne small businesses hurt by coronavirus, new site offers help
Area small businesses who are already hurting from coronavirus shutdowns have a new resource to go to for help.
Opportunity Stanislaus and Valley Sierra Small Business Development have created a one-stop website with information on what is available right now to Stanislaus and Tuolumne county businesses because of the COVID-19 outbreak. The site www.cabizrelief.org went live Tuesday and is a clearinghouse for news, services and more, which is all free of charge.
David White, CEO of Opportunity Stanislaus which hosts the Valley Sierra SBDC, said the site came together quickly and will be updated regularly. Information is available in English and in Spanish.
“Sometimes people, especially small business owners, they think they’ve got this. They think they can ride the wave. But the most important thing in a crisis is to get help,” he said. “Don’t put yourself in a situation you can’t recover from.”
White suggests businesses sign up online for services. They will then be assigned a consultant who will work with them to assess their needs and guide them through the available options. The service is complimentary and done remotely, so it’s social-distancing approved.
All of White’s staff is working remotely now, but will be able to assist business owners as usual.
What Stanislaus, Tuolumne county businesses qualify
The services are available to any small business owners in the two-county area. Small businesses are defined as those in the region with less than 500 employees. So, really, lots of area businesses should qualify.
Right now the organization’s main monetary incentives are low-interest loans secured through the federal government. Both nonprofit and for-profit businesses can qualify for Economic Disaster Injury Loans. Currently rates are about 2% to 3%.
White said, in light of the Federal Reserve slashing rates to zero, there has been some talk of zero-percent bridge loans being offered. But those have not been approved yet and would need to be given the OK by the Trump administration first.
Other resources include providing assistance with cost cutting, as well as informational webinars and other support.
With all Stanislaus County schools now shut down and many - though not all - restaurants and non-essential businesses closing their sites to the public per the governor’s recommendations, White said he knows more people will be seeking help soon. They’ve already fielded more than 20 requests since the site went up.
So far the first line of businesses hurt have included restaurants, performing arts centers and movie theaters. Gig workers and independent contractors like hairstylists, musicians and other freelance positions have also seen their work dry up, but currently federal help is not available to them like it is small business owners.
White said he hopes more assistance, particularly from the federal government, will be in the pipeline soon. Those who do not qualify for Opportunity Stanislaus services should look for community generated, grassroots efforts like LoveOurNeighbors.org, which was set up this week by the same people behind Love Modesto.
But, he said, the most important thing is for people to know there is help and support out there and, hopefully, more coming. He said most small businesses operate on shoestring budgets with limited cash flow as is, and might not survive if the shutdowns drag on for more than one to three months.
“We need to provide hope and help to people right now,” White said. “Our response is to try to help to make life easier during this difficult time. Let’s all support each other.”
So if you’re stressed or struggling as a business, contact Opportunity Stanislaus. You can reach them through their www.cabizrelief.org website or by calling 209-422-6416 or emailing Info@ValleySierraSBDC.com.
