Financial Resources

A growing list of partners and government agencies are posting information to assist businesses during the pandemic.

Information changes frequently, so please stay informed by checking sources directly on a regular basis.

  • Monterey County microloans. To find out more about microloans or to apply, contact California Coastal Rural Development Corporation, which is managing this project at or (831) 424-1099.
  • The SBA is offering the Paycheck Protection Program.  This program is designed to provide a direct incentive for small businesses to keep their workers on payroll by providing each small business a loan up to $10 million for payroll and certain other expenses.  If all employees are kept on payroll for eight weeks, SBA will forgive the portion of the loans used for payroll, rent, mortgage interest, or utilities. Up to 100 percent of the loan is forgivable.
  • Small businesses and private, non-profit organizations can apply for "Economic Injury Disaster" Loans from the Small Business Administration (SBA).  The SBA is offering loans of up to $2 million for working capital to help small businesses, and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations. 
  • The Cal Coastal SBDC has local counselors available to help you through the application process by calling (831) 424-1099 or visiting the SBDC website to begin. Please download and review the necessary paper forms (scroll down to Disaster Business Loan forms) to get started. When applying you must indicate you are applying under "Economic Injury." The deadline to apply is December 16, 2020. More resources from SBA can be found in the Additional Financial Resources section.
  • The Pacific Grove Chamber of Commerce is maintaining a list of local businesses that continue to operate during this shelter-in-place period.
  • The State of California’s Employment Development Department (EDD) has programs to help both employers and employees deal with potential closures or layoffs, reduced work hours, and caring for ill or quarantined family members. Services include expedited processing of eligible Unemployment Insurance and Disability Insurance claims.
  • Employers planning a closure or major layoffs as a result of COVID-19 can get help through the Rapid Response program.  Employers can also request a Payroll Tax Extension without penalty or interest charges.
  • The California Governor’s Office of Business and Economic Development (GoBiz) offers additional resources and FAQs for businesses.
  • Not all businesses are the same, and some workers may face different levels of risk within the same business. The Occupational Safety and Health Administration (OSHA) maintains detailed guidance in its publication, Guidelines on Preparing Workplaces for COVID-19.
  • The California Small Business Disaster Relief Loan Guarantee program is targeted at small businesses with 1-750 employees who do not qualify for federal funds.  The loans would be eligible for businesses and non-profits, and the funds could be used for operating costs, such as rent and payroll.  Businesses can apply directly with a private lender or through a participating Financial Development Corporation.
  • Small Business Relief Payment Plans (Sales Tax Bridge Loan): The State has announced the free deferral of sales/use tax, up to $50,000, for businesses with less than $5 million in taxable assets.  The State is allowing qualified businesses to defer their payment of sales/use tax for up to one-year with no fines or penalties.  Additionally, there will be no interest payments required for any deferred payments.  The intent is for this funding, which businesses collect and remit to the State, to act as a bridge loan.
  • Opportunity Fund, California's largest nonprofit microlender, is offering loans or grants to small businesses throughout this crisis.
  • Have you lost your job?  The State has joined Bitwise Industries and the Kapor Center to launch, a new platform connecting displaced California workers with more than 70,000 job opportunities in critical industries.
  • PG&E will suspend disconnections for nonpayment for all residential and small business customers and will remain in effect until further notice, as well as offer flexible payment plans to support customers.
  • The Verizon Small Business Recovery Fund provides grants of up to $10,000 to businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital.  The next application round will open mid-April.  Sign up to receive updates.
  • Google is providing Google Ads credits to all small- and medium-sized businesses (SMBs) with active accounts over the past year to help alleviate some of the cost of staying in touch with customers.  SMBs who have been active advertisers since the beginning of 2019 will see a credit notification appear in their Google Ads account in the coming months - credits can be used at any point until the end of 2020 across Google's advertising platforms.
  • Facebook will be offering $100 million in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries.  Sign up to receive more details as they become available. Facebook has also launched a digital gift card discovery platform to help small businesses launch and promote digital gift cards, so customers can continue to patronize them during this Shelter-in-Place period.