New Help for Small Businesses & Workers Displaced by COVID-19
California Governor Gavin Newsom unveiled a series of new resources to aid small businesses and help workers today.
The state is allowing small businesses to defer payment of sales and use taxes of up to $50,000, for up to 12 months. The announcement comes just days after the governor signed an executive order granting a 90-day extension for small businesses to pay sales taxes.
The state is also allocating $50 million to the California Infrastructure and Economic Development Bank for loan guarantees to small businesses to help eliminate barriers to capital for individuals who do not qualify for federal funds, including low wealth and undocumented immigrant communities.
Additionally, the Governor joined Bitwise Industries and the Kapor Center to launch OnwardCa.org, a new platform connecting displaced California workers with more than 70,000 job opportunities in critical industries.
The announcement also included $17.8 million in new state initiatives to support California workers impacted by COVID-19. The allocation will come from Workforce Innovation and Opportunity Act funds with $7.8 million going to the Los Angeles region and $10 million made available statewide.
Read the full press release from the Office of the Governor here.
