The Federal Government’s U.S. Small Business Administration (“SBA”) is providing low-interest disaster loans to help businesses and homeowners recover from declared disasters. As a small business, small agricultural cooperative, small business engaged in aquaculture, or private non-profit organization you may borrow up to $2 million for Economic Injury; however, in reality the limit will be $25,000 in economic injury.
As of January 31, 2020, Sacramento had been declared a Coronavirus (COVID-19) “Primary County” (along with Alameda, Calaveras, Contra Costa, Los Angeles, Sacramento, San Diego, San Francisco, San Mateo, Sonoma, and Tuolumne) which makes home and business owners able to apply for these loans. More details available at: https://disasterloan.sba.gov/ela/.
For more information, or to apply for the loans please contact our firm or visit: https://www.sba.gov/funding-programs/disaster-assistance.
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California has required employers to “indemnify” employees for “necessary expenditures or losses incurred by the employee in direct consequence of the discharge of his or her duties, or of his or her obedience to the directions of the employer” in substantially the same terms since 1937 under Labor Code § 2802.
