(October 30, 2007) The California Chamber of Commerce is encouraging businesses to be aware of state assistance programs dedicated to helping businesses recover from the Southern California wildfires.
Governor Arnold Schwarzenegger has directed the Employment Development Department (EDD) to extend payroll tax deadlines by up to 60 days for small businesses hardest hit by the wildfires.
The executive order signed by the Governor assists the victims of the wildfires by suspending the one-week waiting period for unemployment insurance, waiving fees and assisting in the replacement of certain vital documents and expediting the cleanup and debris removal process. The Governor has also requested that the Franchise Tax Board and the Board of Equalization use their administrative powers where appropriate to assist fire victims with filing extensions or offer relief from penalties and assessments.
Request an Extension
Employers directly affected by the Southern California wildfires may request up to a 60-day extension of time from EDD to file their state payroll reports and/or deposit state payroll taxes without penalty or interest. This extension applies for only the third and fourth quarters of 2007. The written request for an extension must be received with a postmark date of December 20, 2007 or earlier.
Small Business Disaster Assistance Loan Guarantee
Governor Schwarzenegger has also directed the Small Business Disaster Assistance Loan Guarantee Program to be activated to guarantee $7 million in loans for farms, agriculture-related businesses and businesses in communities that suffered damage or significant economic loss as a result of the Southern California wildfires.
The Small Business Disaster Loan Guarantee Program is available for farms that produce food or fiber, or ranches that raise livestock. It also extends to wholesale or retail nurseries and agriculture-related enterprises such as packing sheds, co-ops, feed yards, cotton gins and goods processors.
Non-agricultural small business applicants must be eligible for disaster assistance from the U.S. Small Business Administration. State assistance through the Small Business Disaster Assistance Loan Guarantee Program will provide “bridge” funding for those small businesses waiting for federal assistance to arrive.
California’s Small Business Disaster Loan Guarantee Program was originally implemented in the wake of the 1989 Loma Prieta earthquake. The program provides guarantees to local lenders for loans made to small businesses and farmers afflicted by a disaster in order to prevent business insolvencies and loss of employment in areas affected by a state of emergency.
For assistance related to economic damage caused by the Southern California wildfires, a small business or farm enterprise should contact the nearest Financial Development Corporation:
California Southern
600 B Street, Suite 2450
San Diego, CA 92101
(619) 232.7771
www.casouth.com
Orange County
1913 E. 17th Street
Santa Ana, CA 92705
(714) 571-1900
Pacific Coast Regional
3255 Wilshire Blvd., Suite 1501
Los Angeles, CA 90010
(213) 739.2999
www.pcrcorp.org
Inland Empire
516 N. Lemon Avenue
Ontario, CA 91764
(909) 391.6787
www.iefdc.org
Hancock
3600 Wilshire Blvd., Suite 926
Los Angeles, CA 9000
(213) 382-4300
www.hsbfdc.org
San Fernando Valley
5121 Van Nuys Blvd,. 3rd Floor
Pacoima, CA 91403
(818) 205-1770
www.sfvfdc.org
On October 21, Governor Schwarzenegger proclaimed a state of emergency in the counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara and Ventura to make more resources available to fight the fires.