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MAYOR GARCETTI ANNOUNCES ECONOMIC RELIEF PACKAGE FOR SMALL BUSINESSES IMPACTED BY THE NOVEL CORONAVIRUS
LOS ANGELES -- Mayor Eric Garcetti today announced an $11 million economic relief package for small businesses impacted by the novel coronavirus (COVID-19).
As part of the program, which was approved by the Los Angeles City Council, the Economic and Workforce Development Department will provide $11 million in no-fee microloans of $5,000 to $20,000 — which may be used to cover working capital. Since cash flow is critical at this unprecedented time, the program will offer relaxed underwriting with no credit score minimum, a generous allowance to meet debt service, and a 100% Loan to Value ratio. The interest rate can either be 0% for a term of six months to one year, or 3% to 5% for a term of up to five years.
The microloan program is being paired with a Small Business Resilience Toolkit, which is being distributed as a digital guidebook and includes vital information covering Federal, State, County, and City emergency policies and programs impacting small businesses. It also offers strategies for adjusting to the effects that COVID-19 is having on businesses — including ways to keep employees safe, maintain operations at maximum possible capacity, and prepare business continuity plans. To apply for a microloan or view the toolkit, please visit LAMayor.org/Loan.
CDTFA TEMPORARILY CLOSES PUBLIC COUNTERS IN FIELD OFFICES
SACRAMENTO -- The California Department of Tax and Fee Administration’s (CDTFA) Field Offices and Motor Carrier Office across the state will be closing their public counters temporarily to ensure the health and safety of CDTFA’s customers and team members. This effort is temporary to support statewide physical distancing measures in place to stem the spread of the Coronavirus. Taxpayers requiring an office visit to make a tax payment should contact the department to schedule an appointment.
“We have temporarily closed our public counters, but we are fully available to serve the public through one on one phone and video appointments. Our call center is taking calls from customers and our online services remain available,” said Director Nick Maduros. “We know this health situation is affecting businesses everywhere, so we are offering a variety of ways to assist, including requesting an extension. Please know that we are here to work with you during this difficult time.”
Taxpayers may request assistance or schedule an appointment with a field office representative by contacting the CDTFA Customer Service Call Center at 1-800-400-7115. Requests for extensions on filing a return or requests for relief of interest and penalties can be made through CDTFA online services. This includes assistance if you are unable to make a timely tax payment. Taxpayers may also request assistance in writing by contacting the CDTFA via email or sending a letter to:
California Department of Tax and Fee Administration, Return Analysis Unit, MIC 35, PO Box 942879, Sacramento, CA 94279-0035
To find the latest information on CDTFA’s COVID-19 efforts, visit www.cdtfa.ca.gov/services/covid19.htm. For info about California’s COVID-19 efforts, visit covid19.ca.gov.
The California Department of Tax and Fee Administration (CDTFA) administers California’s sales and use, fuel, tobacco, alcohol, and cannabis taxes, as well as a variety of other taxes and fees that fund specific state programs. CDTFA-administered programs account for more than $70 billion annually which in turn supports local essential services such as transportation, public safety and health, libraries, schools, social services, and natural resource management programs through the distribution of tax dollars going directly to local communities.
DISASTER ASSISTANCE LOANS NOW AVAILABLE TO LOS ANGELES COUNTY SMALL BUSINESSES ECONOMICALLY IMPACTED BY THE CORONAVIRUS (COVID-19)
LOS ANGELES – The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to California small businesses suffering substantial economic injury as a result of the novel coronavirus (COVID-19).
“Offering support and disaster relief is a critical government function,” stated Kevin McGowan, Director of the Los Angeles County Office of Emergency Management. “The devastating economic impact of COVID-19 is palpable. There is a great need for economic support during the coronavirus disaster, and SBA federal disaster loans are an excellent resource for small business owners.”
Applicants may apply online, receive additional disaster assistance information and download applications at disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. Completed applications should be mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. The deadline to apply for an Economic Injury Disaster Loan is December 16, 2020. For information about Coronavirus, visit: publichealth.lacounty.gov/media/Coronavirus/. For information about available SBA resources and services, visit: SBA.gov/coronavirus.
ISRAELI HIGH-TECHS STEP UP TO FIGHT GLOBAL STRUGGLE
Professor Eugene Kandel, CEO SNC
In light of the demand from various countries and organizations around the world, Start-Up Nation Central has created the most comprehensive information directory of Israeli medical technology solutions that can help the world fight the corona virus. To date, the directory includes more than 70 blue-and-white high-tech companies that can provide a variety of solutions to reduce the burden on health systems and limit direct contact with potential patients in countries dealing with the crisis.
The directory of medical technology solutions from Israel contains five categories. The largest concentration of companies comes from the Remote Monitoring category, including companies that enable conducting diagnoses of patients and suspected patients remotely, while minimizing the exposure of medical teams and prioritizing the treatment of patients according to their severity.
The second largest category is Diagnostics and Decision Support for medical teams. This category includes companies that enable identifying patients according to samples of their voice, in accordance with various symptoms and data entered into the system about symptomatic patients, who are at a higher risk in the first place.
The third category is Protection and Prevention and includes, for example, a company that has developed a technology to create fabrics that protect the wearer from virus infection. The fourth category deals with Social and Mental Aspects of treating the disease, for example a company that offers solutions for the Third Age population contending with solitude in any case, and even more so during this challenging period. The last category deals with the Treatment of patients in practice, and includes companies that offer treatments using proteins found in human plasma.
“Israeli innovation can help to cope with the corona crisis, which is placing a growing existential danger before the whole world. The Israeli brain has extensive experience of times of emergency and thinking outside the box, and we want to do our bit in this difficult hour. Various technologies developed in Israel are relevant for many aspects in the global fight with the corona virus -- headed by rapid and smart diagnosis that will reduce the enormous burden on hospitals, help prioritize critical tasks and protect the health of medical staff. Start-Up Nation Central is in contact with medical institutions, governments and organizations worldwide, and is ready to help as much as needed to make these technologies, which can save lives, accessible, ”Professor Eugene Kandel, CEO of Start-Up Nation Central and former Chairman of Israel's National Economic Council said.
The updated list of companies can be found under the tag #coronavirus on the Start-Up Nation Finder website. The data on the site is available to all, with the aim of helping to locate, promote and finance Israeli technological solutions. The directory includes a description of the relevant companies currently operating in Israel that can help in fighting corona virus, a description of the solution they offer, the product development phase, and info about the company’s capital raising.
Start-Up Nation Central is a company for the public benefit with the goal of strengthening the Israeli high-tech industry, “the engine of the Israeli economy,” to expose its capabilities and encourage business cooperation with the technological ecosystem in Israel. To realize its vision, the company operates with business organizations, venture capital companies, investors, authorities and various government ministries around the world. The company’s activities are solely funded by philanthropy.
MAYOR GARCETTI ORDERS MORATORIUM ON
Mayor Garcetti ordered a moratorium on commercial evictions of tenants unable to pay rent -- a move that follows a similar ban on evictions of residential tenants.
The Mayor’s order on commercial evictions will be in place until March 31 unless extended. Landlords cannot evict a commercial tenant who is able to show an inability to pay rent due to circumstances related to the COVID-19 pandemic, including loss of business income due to:
° a COVID-19 related workplace closure;
° child care expenditures due to school closures;
° health care expenses related to being ill with COVID-19 or caring for a member of the tenant’s household who is ill with COVID-19;
° reasonable expenditures that stem from government-ordered emergency measures.
Eligible tenants will have up to three months following the expiration of the local emergency period to repay any back due rent.
12-18 Nisan, 5780 UPDATED: NEXT EDITION 06/08/20 April 6-12, 2020 -- THE JEWISH OBSERVER, LOS ANGELES--634th Web Ed.\
HAPPY SHAVUOT: BEGINS SUNDOWN 05/28/2020