SBDC Helped Businesses Access over $96 million in Disaster Capital

SBDC Helped Businesses Access over $96 million in Disaster Capital Over $80M Available in the Payroll Protection Program Deadline August 8   July 29, 2020, San Diego, CA –Small businesses and the local economy have been heavily impacted by the COVID-19 Pandemic and many have closed their doors. Others held on adapting and pivoting. The CARES ACT provides grants, loans, and assistance at the local, state, and federal levels. However, the magnitude of the disaster and the urgency has created a huge demand for the disaster loans.   “My staff and I are working around the clock to help local small business owners receive this aid and access other assistance from the SBA. Our local Small Business Development Centers have been critical partners in that effort, and I strongly encourage small business owners to reach out for assistance, ” encourages Congressman Mike Levin, California's 49th Congressional District.   “COVID-19 is something we have never experienced.  We learned that San Diego’s small businesses are inspirational, creative, and resilient. Over 100 SBDC business advisors have been boots on the ground since March helping over 8,000 business owners successfully access over $96 million in disaster funding as well as recovering, pivoting and adapting,” states Daniel Fitzgerald, Acting Regional Director, San Diego and Imperial Small Business Development Center Network.   “The PPP is closing on August 8th and it is not likely to be reinstated. The EIDL program is still lending however, there are no longer providing grants and San Diego’s Small Business Stimulus Grant Program will go fast.   We are encouraging small business to access SBDC experts at www.sdivsbdc.org for one-on-one counseling. There is no cost to small business owners for SBDC’s services,” continues Fitzgerald.   “We are very grateful to the finance team at the SBDC. They literally saved our business and got us back on track. We were working with them on a business expansion loan when COVID-19 hit, and business was impacted drastically. They helped us get the PPP and EIDL loans which saved our business. We are once again up and running with the expertise of the SBDC and working on our expansion and legacy”, explains Frederick Mercurio, CEO of Imperial Rail Port.

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