Helpful resources to prepare for and respond to COVID-19

​SBA Disaster Assistance

Small business owners in all U.S. states and territories are currently eligible to apply for a low-interest loan due to Coronavirus (COVID-19).
Disaster Loan Applications Paycheck protection program

May 15th, 2020: The SBA has released the application for Paycheck Protection Program forgiveness. The document is available here.

This loan program provides loan forgiveness for retaining employees by temporarily expanding the traditional SBA 7(a) loan program. Eligible recipients: non-profits, veterans, tribal businesses, self-employed, independent contractors, may be provided 8-week average payroll and certain other expenses. Forgivable if workforce is maintained. Learn More.
  • Paycheck Protection FAQ
  • Businesses with up to 500 employees or which meet the applicable size standard for the industry as provided by SBA's existing regulations are eligible
  • Loans will be available through SBA and Treasury approved banks, credit unions, and some nonbank lenders.
  • Borrowers can borrow 2.5 times their monthly payroll expenses, up to $10 million.
  • Applicable uses for the loan proceeds include: (1) qualified payroll costs; (2) rent; (3) utilities; and (4) interest on mortgage and other debt obligations.
  • Loan forgiveness is available for funds used to pay 8 weeks of payroll and other qualified expenses.
  • The amount of loan forgiveness may be reduced if the employer reduces the number of employees as compared to the prior year, or if the employer reduces the pay of any employee by more than 25% as of the last calendar quarter. . Borrowers must apply for loan forgiveness to their lenders by submitting required documentation (as discussed in further detail below) and will receive a decision within 60 days.
SBA Debt Relief The SBA will pay the principal, interest, and fees of current 7(a) loans for a period of six months. Economic Injury Disaster Loan Offers up to $2 million in assistance with interest at 3.75% (for-profit), and 2.75% (non-profit). Economic Injury Disaster Loan Advance Provides up to $10K economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application. This loan advance will not have to be repaid. SBA Express Bridge Loan Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. Learn More About CARES Act Funding Options

Business Resources


Workplace Financial Business Advising Del Mar College SBDC (Small Business Development Center) offers individual business advising in a variety of areas by professionally trained advisors who maintain the highest ethical standards of client confidentiality. Advising services are provided at no cost and are scheduled as often as needed to enable professional advisors to serve as resource support. Persons interested in scheduling advising may submit their application online by visiting their website and clicking the red button, or by visiting the direct link below. Preparing to Stay Open There is still time to prepare your small business to receive disaster relief and survive the economic impacts of COVID-19. Solving essential business problems during a disaster can be challenging. Part of your recovery may involve establishing best-practices for how your company responds to times of crisis. We have a tool that can help. The Insurance Institute for Business & Home Safety (IBHS), a non-profit independent research organization, provides an easy-to-use template for small businesses to:
  1. Identify the business activities that are essential for continued operation during a disruption;
  2. Deal with risks your organization faces; and
  3. Create an easy-to-use recovery plan tailored to your business, giving you confidence if the worst occurs.
Download this document and go through the exercises filling out each form as best you can.

Loan Lenders

List of banks offering help to customers impacted by the coronavirus EXAMPLE OF WHAT YOUR BANK MAY WANT “Paycheck Protection Program”
If your business has fewer than 500 employees, you may be eligible for a loan of up to $10 million to carry you through this crisis. SBA approved lenders
The Payroll Protection Program (PPP) will be administered by the Small Business Administration (SBA). Lenders will participate in this program to provide forgivable loans to customers impacted by the current economic downturn and assist with covering costs related to your payroll, mortgage interest, rent, leases, utilities and interest on existing debt over the next few months.
We strongly encourage you to plan ahead and be ready to provide:

  • Date your business started
  • Business’s mailing address
  • If filed, your 2019 Federal Tax Return. If not, please have complete 2019 financials, including the business’s profit/loss and balance sheet
  • IRS Form 941 —Employer’s Quarterly Federal Income Tax Return for all four quarters for 2019
  • The number of employees paid more than $100,000 per year
  • Calculation of the total payroll for employees paid during the applicable base period, excluding amounts paid above a prorated annual salary of $100,000
  • Importantly: YOU MUST RETAIN ALL CURRENT EMPLOYEES. Dismissing current employees may disqualify you from loan forgiveness. Normal terminations for cause will not result in your disqualification.
  • Other documents that may be required:
    • Entity documents
    • Certificate of good standing
    • Copy of Borrowing Authority — IRS letter assigning employer identification number, Certificate of Incorporation filed with the state, Articles of Incorporation and By-Laws (or Operating Agreement if LLC), Partnership Agreement and Assumed Name Certificate filed with the state, if applicable
For more information about the loan program and how to apply, please visit

Lift Fund


Texas Gov. Greg Abbott announced that Goldman Sachs and the LiftFund, along with other community development financial institutions, are partnering to provide $50 million in loans to small businesses in Texas that have been affected by COVID-19 as part of the Goldman Sachs 10,000 Small Businesses program. Read more.

To qualify, the business or nonprofit must meet these requirements:

  • Must have been in operation as of Feb. 15, 2020
  • The owner must be an independent contractor/sole proprietor OR the business/organization has employees/independent contractors for whom they have associated payroll costs and reside in the U.S.

The loans may be used for payroll/compensation costs, health care costs, mortgage interest (not principal), rent, utilities and interest on debt obligations incurred before Feb. 15, 2020.

Apply Here & Learn More

Corpus Christi

The Corpus Christi City Council approved a loan program for businesses operating within the City of Corpus Christi city limits with an annual revenue of up to $1.5 million.

CCREDC is honored to have assisted the city in the design of this program, as it is a necessary tool for local businesses to have access to capital to mitigate the damage caused by COVID-19 forced closure.

Applications will be accepted beginning April 10. For more information about the program, call 888-215-2373 or visit the website.

Here are several parameters for the loan program:

  • Must be within the city limits of Corpus Christi
  • Maximum of $1,500,000 in annual revenues
  • Must show a reduction in revenue of at least 15% from March 1st
  • Loans up to $25,000 at zero percent interest
  • No payments for first 4 months
  • Have plans to reopen in same location
  • Funds may be used for working capital, covering expenses of debt, and workforce needs
  • Priority to those businesses impacted most by the Governor’s Executive Order
    • Bars
    • Restaurants
    • Nail salons
    • Beauty salons
    • Barber shops
    • Gyms
    • Massage parlors