SAFE March 17, 2020 at 10:54 AM

Updated 4/16: Resources for businesses coping with COVID-19

Businesses are being hit hard by the coronavirus pandemic. As government agencies and local authorities direct certain businesses to close and others lose customers while people self-isolate, business owners may find themselves seeking resources to help them and their employees weather the COVID-19 situation. 

SAFE Credit Union has long supported businesses in the Greater Sacramento area with business banking services, from savings and checking accounts to lending. We are here to help our members during this time. In that spirit, we’ve compiled a list of helpful resources for businesses in the Greater Sacramento area.

If you're an employee concerned about lost wages, read our blog listing resources just for you.


SAFE Credit Union has made the difficult business decision to stop accepting Paycheck Protection Program (PPP) loan applications after 2 p.m., Saturday, April 11, 2020, due to a high volume of applications. If you submitted an application before that time, SAFE will be in contact with you in the near future to confirm your submission. You can learn about next steps at

We sincerely apologize for any inconvenience this may cause you. Please find the latest updates from SAFE at


SBA Economic Injury Disaster Loans and Loan Advance

Update as of April 16: The SBA announced today that it is not accepting new applications for the Economic Injury Disaster Loans and loan advances.

Loan details

These low-interest loans provide up to $2 million in working capital to businesses experiencing a temporary loss of revenue. They can be used for fixed debts, payroll, and other bills that can’t be paid because of COVID-19.

Businesses who apply for an Economic Injury Disaster Loan can request a $10,000 advance that can be issued quickly to help address expenses during the loan approval process. The advance is available to you even if your loan is still pending or declined. The advance is also forgivable.

Repayment terms can be up to 30 years, with interest rates of 3.75% for businesses and 2.75% for nonprofits.

How to apply

Businesses apply directly to the SBA for Economic Injury Disaster Loans. Apply now >

Other SBA COVID-19 assistance

The SBA is also offering SBA debt relief, express bridge loans, and other assistance for businesses. Learn more >

Other non-SBA assistance

Gov. Gavin Newsom announced the state is putting $50 million toward a new “microlending” program through the California Infrastructure Economic Development Bank, or the IBank. The program is aimed at businesses that might not be eligible for Small Business Administration loans or the U.S. Treasury Department's new Paycheck Protection Program.

Applications for California's new program are available through the state's coronavirus portal here:


California EDD

The California Employment Development Department provides a number of COVID-19 related resources regarding workplace and employee issues.

Work Sharing Program

If you are experiencing a business slowdown due to the coronavirus, your business may be eligible to participate in the Unemployment Insurance Work Sharing Program. This provides a way for employers to retain their employees by reducing their hours and wages and partially supplementing their employees’ pay with UI benefits. Your employees will receive the percentage of their weekly unemployment insurance benefit amount based on the percentage of hours and wages reduced, up to 60 percent. Employers can apply for this program here.

Potential Closure or Layoffs

The Rapid Response program will provide teams to discuss your business’ needs to help avert layoffs as well as assist employees facing job losses. Services include worker training to help your employees upgrade the skills they need to avoid being laid off as well as helping the business stay competitive. Rapid Response teams provide career counseling and job search assistance for workers who are facing layoffs, and helps employers and employees navigate unemployment insurance. Learn more here.

Tax assistance

Employers experiencing a hardship as a result of COVID-19 may request up to a 60-day extension from the EDD to file their state payroll reports and/or deposit state payroll taxes without penalty or interest. You must file a written request for the extension within 60 days from the original delinquent date of the payment or return.

Questions? Contact the EDD directly at 888-745-3886.

Learn more about resources for businesses for the coronavirus here:


Downtown Sacramento Partnership

The Downtown Sacramento Partnership has put out a tool kit for businesses that includes links to information about health, assistance for businesses, and community fundraisers to support. 


Rancho Cordova and Elk Grove Lift investing

City councils from Rancho Cordova and Elk Grove approved the week of April 6 to provide $1 million each to Region Business, a regional economic development organization operating as Lift Investing. Lift has created a community lending program called COVID-19 Emergency Investment and Relief Program for cities to support businesses in their areas impacted by the economic fallout of the pandemic. Cities deposit funds with local lenders with instructions to lend 100% of the funds to local businesses. For more information and a list of participating lenders, contact the city of Rancho Cordova  and the city of Elk Grove


Regional chambers of commerce

Chambers of Commerce in the Greater Sacramento area are providing information for their members through newsletters and teleconferences.

Metro Chamber of Commerce

Sacramento Black Chamber of Commerce

Sacramento Asian Pacific Chamber of Commerce

Sacramento Hispanic Chamber of Commerce

Folsom Chamber of Commerce

Rocklin Chamber of Commerce

Elk Grove Chamber of Commerce

West Sacramento Chamber of Commerce

Carmichael Chamber of Commerce

Roseville Area Chamber of Commerce


Other helpful resources

The Centers for Disease Control is regularly updating its guidelines for businesses and employers about how to promote safety for staff and customers regarding COVID-19.

The California Labor & Workforce Development Agency provides comprehensive guidelines for employers and employees. Get insights on paid sick leave policies, disability insurance, unemployment insurance, and more.

Learn the latest information and mitigation efforts in place in Sacramento County:

Follow updates from the city of Sacramento:


Learn more how SAFE is responding to COVID-19.



SAFE Credit Union has served its members with integrity, exceptional service, innovative products, and progressive technology since 1940.