As an organization, Opportunity Fund stands with everyone calling for an end to racism and injustice and to affirm: Black Lives Matter. Please see our full statement HERE for Anti-racism Resources to learn about how you can take action.
Opportunity Fund is committed to supporting small businesses who are financially struggling amidst the COVID-19 outbreak. If you are a small business owner whose business has been impacted, please contact us directly so that we may better serve you.
Please keep in mind that our ability to provide financial assistance is based on eligibility guidelines and funding availability. Day by day, we are working with partners, investors, and the government to secure additional funds so that we can support more business owners during this time.
If you are an existing customer who has been impacted by Covid-19 and concerned about missing a loan payment, contact us at 877-629-2709 or paymentsupport@opportunityfund.org.
If you are seeking new financing through a non-PPP loan, contact us at 888-720-3215 (888-648-7859 en español) or click here to begin your request.
If you are a donor or are interested in supporting Opportunity Fund’s efforts during this time, please click here to learn more information about the Small Business Relief Fund.
Opportunity Fund understands that this is a very difficult time for you, your family, and your business. We are committed to providing you with the best customer service through this crisis and beyond.
Informative Webinars
We are pleased to offer a COVID Response Webinar Series to keep entrepreneurs informed of their options, helpful resources, and best practices during this crisis. Please see links below to register for upcoming webinars and watch recordings of past webinars (click links for detailed description).
Past Webinar Recordings
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- Budgeting and Forecasting for Unstable Revenues
- Revising Your Business Plan for Recovery
- PPP Loan Forgiveness Explained
- Recursos para Empresas Pequenas Durante la Pandemia de COVID-19
- Legal and Practical Considerations for Employers
- Adapting Your Supply Chain
- Protect Your Business from Predators and Fraud
- Managing Cash During an Emergency
- Leveraging Resources to Survive and Thrive – also available in Spanish
- Crisis Management for Small Businesses
- SBA Economic Injury Disaster Loan Program
- Stay Connected To Your Customers
Capital/Loans
Our friends at Gusto are updating this list daily with the latest information on grants, loans and other resources at a national and local level: COVID-19 Resource List for Employees and Employers.
LA Regional Covid Fund
- Grant program launches July 6 – more info HERE.
SBA
- Economic Injury Disaster Loan (EIDL)
- On June 15th SBA began accepting new EIDL and EIDL Advance applications from qualified small businesses and U.S. agricultural businesses
- EIDL Application
- Paycheck Protection Program (PPP)
- If you have been approved for or received a PPP loan, you are probably thinking about the loan forgiveness process. Below are some resources you may find helpful:
- PPP FAQ’s from SBA
- SBA Express Bridge Loans
- Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.
Disaster Relief Assistance for Immigrants (DRAI)
- California is providing one-time state-funded disaster relief assistance to undocumented adults who are ineligible for other forms of assistance, including assistance under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and pandemic unemployment benefits, because of their immigration status. Go here for more information.
- Twelve immigrant-serving nonprofit organizations will help individuals apply for and receive this disaster relief assistance in their region. An undocumented adult who qualifies can receive $500 in direct assistance, with a maximum of $1000 in assistance per household. Read frequently asked questions.
Economic Impact Payments (EIP)
- IRS EIP Information Center
Free Credit Reports
- National Credit Reporting Agencies – Equifax, Experian, and Transunion are offering free credit reports. Get your report here. Credit Reports from National Credit Reporting Agencies: Equifax, Experian, and Transunion.
National/Local
- Google Ad Credits – for SMB’s who’ve had active Google Ads in past year
- GoFundMe.org Small Business Relief Fund – provide micro-grants
- Kiva: 0% loans for entrepreneurs
- Business For All – mentorship and grant program powered by Alice and Verizon
- Beauty Changes Lives – $1,000 relief grants for beauty industry professionals
- Los Angeles Small Business Emergency Microloan Program
- Sacramento Small Business Recovery Program – Application closes July 13
Scams/Fraud
- Scams and Your Small Business: A Guide for Business – FTC
- With user-friendly features, the FTC’s data dashboard lets you click on your state to see what people near you have been reporting. And see how people across the country are being affected, too.
- FTC, SBA warn companies about SBA loan promises, FTC 6/24/20
- The IRS won’t call about your stimulus money, FTC 6/24/20
Legal
- Start Small Think Big and Public Law Center launched a Pro Bono Remote Legal Assistance Clinic for Nonprofits and Small Businesses in California and several other states.
- Using a Limited Liability Entity to Protect Your Business During COVID-19 – Thursday, July 9 at 10am PT
- To request assistance, please complete and submit a COVID-19 Assistance Request Form
- Pandemic Unemployment Assistance (PUA) for the Self-Employed
- CAMEO provides recording and slides from their legal clinic
Taxes
- IRS Tax Filing Deadline is July 15, 2020
- File free online through United Way’s MyFreeTaxes program
- Many local non-profits are continuing to offer modified free tax preparation services to households claiming less than $56,000 in income. To see a list of non-profits that are providing the option to drop off taxes (by appointment only) or to access a free tool to file your own taxes online, visit FreeTaxPrepLA.
- California Earned Income Tax Credit and Young Child Tax Credit
- US Dept of Treasury & IRS
- CA Income Taxes & CA Payroll tax extension
Employees/Payroll
- CDC – Guidance for Employers and Businesses
- Cal/OSHA – Guidance to Protect Workers
- CA Labor & Workforce Development Agency – Resources for Employers and Workers
Mental Health Resources
- Crisis Text Line – Provides free, 24/7 support via text message.
- There’s no way around it: the world is really scary right now. Now that Coronavirus is sweeping the globe as a pandemic, we’re all afraid for the health of ourselves and our loved ones. It’s scary. And isolating. And lonely. Yet, we have the tools at our fingertips to help each other. Even in isolation, we’re still connected.
- Text HOME to 741741 to connect with a Crisis Counselor
- Headspace – Free meditations you can listen to anytime
- These are part of a larger collection in the Headspace app — free for everyone — called Weathering the storm. It includes meditations, sleep, and movement exercises to help you out, however you’re feeling. It’s their small way of helping you find some space and kindness for yourself and those around you.
- Offering free Headspace Plus for the unemployed – more info HERE.
Links to Other Resources and Programs
- Hello Alice: COVID-19 Business Resource Center
- Small Business Majority:
- COVID-19 Resources for Undocumented Community: National & State Resources
- Association for Enterprise Opportunity (AEO) – COVID-19 Resources
- Restaurant Workers’ Community Foundation: Relief Funds and Resources for Restaurants and Workers
- Restaurants Interested In Providing Meals to Healthcare Workers
- Food Truck Owners in CA can now apply for temporary permits to sell to-go food at CA rest areas: Food Truck Permit
- LA County Office of Immigrant Affairs: COVID-19 Resources For L.A. County Immigrants & Their Families
- Guideline – Curated guides, articles and news — for a better retirement
Spanish Language Covid-19 Resources
- Webinars:
- Guía para la Condonación de Préstamos Protección de Sueldos – Tuesday, June 16th at 11am PT (in partnership with Start Small Think Big)
- Leveraging Resources to Survive and Thrive (recorded)
- Recursos para Empresas Pequenas Durante la Pandemia de COVID-19 (recorded)
- Consejos Legales Para Manejar Tu Negocio en Línea (recorded)
- League of United Latin American Citizens (LULAC) – Kit Recursos Para El Covid-19
- Resources for Undocumented Community: National & State Resources
- Centro de Negocios Small Business Development Center (SBDC) LA:
- Somos Mayfair: South Bay COVID Guide – Spanish
- Hello Alice: Centro de Pequeñas Empresas Hispanas
Articles on COVID-19’s Impact on Small Business
- This Is What LGBTQ Customers Actually Want to See During Pride Month Entrepreneur, 6-22-20
- Best Small Business Grants for 2020, Including Coronavirus Grants Fundera, 6/24/20
- How Robert F. Smith helped thousands of minority-owned small businesses secure urgent aid in Washington Washington Post, 6/25/20
- 15 Important Small Business Trends We’ll See By The End Of 2020 Forbes, 6/29/20
- 80% of Small Business Owners Say Pandemic Hurt Business – 55% Feel Positive About Future Small Business Trends, 6/30/20
- New Visa Program Offers $10,000 Grants To Black Women Entrepreneurs Forbes, 6/30/20
- Small Businesses Are Optimistic About The Future, Even As They Continue Navigating Covid-19 Forbes, 7/2/20