Business Resources

Business License Relief

In response to the COVID-19 pandemic, the City is waiving all penalties that would have applied to past due business license tax bills starting on March 16, 2020 and ending on June 30, 2021. This will allow additional time for businesses to pay their business license tax bill without receiving penalties or any additional penalties if penalties had applied prior to March 16, 2020. If a past due bill remains unpaid, then penalties will begin to apply again starting on July 1, 2021. For more information, business owners can email lbbiz@longbeach.gov or call 562-570-6211.

Business Financial Assistance

There are several loan and grant options for businesses affected by COVID-19. Please review the following programs you may benefit from:

SBA Restuarant Revitalization Fund
The Restaurant Revitalization Fund (RRF) will provide funding to help restaurants and other eligible businesses keep their doors open. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.

  • Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023.
  • Eligible entities who have experienced pandemic-related revenue loss include:
    • Restaurants
    • Food stands, food trucks, food carts
    • Caterers
    • Bars, saloons, lounges, taverns
    • Snack and nonalcoholic beverage bars
    • Bakeries (onsite sales to the public comprise at least 33% of gross receipts)
    • And other businesses (a full list can be found on the website)
  • Funds may be used for specific expenses including:
    • Business payroll costs (including sick leave)
    • Payments on any business mortgage obligation
    • Business rent payments (note: this does not include prepayment of rent)
    • Business debt service (both principal and interest; note: this does not include any prepayment of principal or interest)
    • Business utility payments
    • Business maintenance expenses
    • Construction of outdoor seating
    • Business supplies (including protective equipment and cleaning materials)
    • Business food and beverage expenses (including raw materials)
    • Covered supplier costs
    • Business operating expenses

You can apply through the online application portal: https://restaurants.sba.gov. Click here to visit the program website

Economic Injury Disaster Loan
The Small Business Administration (SBA) is offering low-interest federal loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19. The Economic Injury Disaster Loan (EIDL) can be used for business expenses such as rent, payroll costs, accounts payable and other operating expenses. For more information, visit the Small Business Administration (SBA) website.

Long Beach Emergency Microloan
The Emergency Microloan Program supports Long Beach micro-enterprises with five (5) or fewer employees on a first-come, first-served basis. Loans from $2,500 to $10,000 are available. Loan proceeds can be used for business expenses such as payroll costs, rent, supplies and materials, utilities and more.  For more information and to apply for the loan, potential borrowers must sign-up for an appointment with the Small Business Development Center (SBDC) by visiting the SBDC website or calling 562-938-5100.

Los Angeles County Small Business Stabilization Loan Program
The Los Angeles County Development Authority has launched an affordable and flexible business loan program to support and help stabilize businesses in the region. Small Business Stabilization Loans range from $50,000 to $3 million, and can be used for working capital, equipment purchases, inventory, or refinancing of existing loans at higher interest rates.

Business Eligibility

  • Businesses must have a physical location within Los Angeles County.
  • Businesses must have been in operation for a minimum of two years at time of application.
  • Click here for a list of ineligible businesses.

Interest rate:
Fixed Wall Street Journal Prime rate. (Currently at 3.25%)

Loan Term:

  • Working Capital - 5-7 years.
  • Equipment - Up to 10 years.
  • Real Estate Acquisition and Construction - Up to 20 years.
Click here to learn more.

Kiva Long Beach Loan
The Kiva Long Beach Loan Program is an online community-lending program that supports Long Beach small businesses. Loan proceeds can be used for business expenses such as personnel, rent, supplies/materials, utilities, professional services and more. For more information and to apply for the loan, potential borrowers can visit the Kiva Long Beach Loan Program website.

Paycheck Protection Program

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.
  • PPP loans have an interest rate of 1%.
  • Loans issued prior to June 5 have a maturity of 2 years. Loans issued after June 5 have a maturity of 5 years.
  • Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower's loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness, payments are deferred 10 months after the end of the covered period for the borrower’s loan forgiveness (either 8 weeks or 24 weeks).
  • No collateral or personal guarantees are required.
  • Neither the government nor lenders will charge small businesses any fees.
How to Apply
 
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, and federally insured credit union that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program. 

Business Financial Assistance (Videos)

Please see the video links for additional information about business financial assistance below.

Reopening Resources

Please see the links to additional information and resources below.

SafeBiz (Physical Distancing Self-Certification)

SafeBiz, is a web-interface that allows businesses, which may open according to the “Safer at Home” Health Order to self-certify that they are committed to re-opening their business safely. SafeBiz guides business owners through a checklist of safety measures required by the “Safer at Home” order to prevent the spread of COVID19. This includes measures to protect employee health, to keep crowds from gathering, to keep people at least six feet apart and prevent unnecessary contact, and to increase sanitation measures to support a safe environment for patrons. For more information, business owners are encouraged to reference the SafeBiz Form.

Free Virtual Business Consultation

Small Business Development Center (SBDC)
The Small Business Development Center (SBDC) is the most comprehensive small business assistance network in the country and its territories. The SBDC is providing free virtual business consultation and is assisting small businesses with disaster preparedness and recovery. Business consultants are available to help answer questions regarding supply chain disruption and liability, technology plans for setting up remote work stations for employees, concerns about cashflow during disruption and concerns about credit and finance issues. For business consultation assistance, contact the local SBDC at 562-938-5100 or visit the SBDC website.

Accelrate Uptown
Accelerate Uptown's Mission is to foster econonimc equity with a focus on women and minority owned businessess,  through entrepreneurship,  advancing careers in technology and supporting the transition of the re-entry community from prison to life. Accelerate Uptown offere free business coaching on a variety of issues ranging from business planning, digital marketing & communications, and more. Click here to schedule an appointment today.