Good evening everyone,

In this issue of Keeping Japantown Business Connected we are highlighting 2 important COVID-19 loan programs available to you: Economic Injury Disaster Loan Program and the Paycheck Protection Program.

Please do take the time to read through. We have translated the information in both Japanese and Korean.

JCBD staff and Greg Viloria continue to do their check-ins with merchants that are open for essential business. Always a good opportunity to ask them questions or address any concerns.

Please continue to stay safe!

We have been in contact with API Legal Outreach, a nonprofit organization that has been providing legal services to many API communities. Their staff is now available to assist our Japantown small businesses to help guide you through the various COVID-19 programs, services and loan programs.

Please call 1-415-567-6255 and leave a message requesting help in the language preferred. The information will be routed to staff with that language for assistance. Please do not forget to leave your name, business name and phone number.

We deeply appreciate API Legal Outreach for their assistance to help our Japantown small businesses through this difficult time.

Bay Area Shelter in Place Order has been extended to May 3,
with new rules for grocery stores and restaurants. 

Appendix A - Social Distancing Protocol form and flyer that lists protocols for anyone coming into your place of businesses was either hand delivered by JCBD staff or emailed to essential businesses in Japantown.

The completed form and flyer must be posted at the entry way by start of business tomorrow Friday, April 3rd.

Restaurants and grocery stores (as well as other businesses that might have lines) must now place “tape or other markings at least six feet apart in customer line areas inside the store and on sidewalks at public entrances with signs directing customers to use the markings to maintain distance.”

Reusable bags that customers bring are now banned for sanitary reasons.

Business owners must be ready and able to show evidence of implementation to any authority enforcing this order upon demand.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

This information is available in: Japanese / Korean

This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application.
This loan advance will not have to be repaid.

STREAMLINED PROCESS REQUIREMENTS
SBA is collecting the requested information in order to make a loan under SBA’s Economic Injury Disaster Loan Program to the qualified entities listed in this application that are impacted by the Coronavirus (COVID-19). The information will be used in determining whether the applicant is eligible for an economic injury loan. If you do not submit all the information requested, your loan cannot be fully processed.

The Applicant understands that the SBA is relying upon the self-certifications contained in this application to verify that the Applicant is an eligible entity to receive the advance, and that the Applicant is providing this self-certification under penalty of perjury pursuant to 28 U.S.C. 1746 for verification purposes.

Please go to: https://covid19relief.sba.gov/#/ to start the application process.

The estimated time for completing this entire application is two hours and ten minutes, although you may not need to complete all parts. You are not required to respond to this collection of information unless it displays a currently valid OMB approval number.

Program Overview
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

The Paycheck Protection Program will be available through June 30, 2020.

This information is available in: Japanese / Korean

Who Can Apply
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.

Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 500 workers. This means each store location could be eligible.

How to Apply
Download your application here. Starting April 3, you can submit your application (and required documentation) to a participating lender. You should consult with your local lender as to whether
 it is participating. Applications close on June 30, but we encourage you to apply as quickly as you can because there is a funding cap. 

Japantown branches of Union Bank and California Bank & Trust have confirmed their participation in this program.

Additional information for borrowers can be found here and full terms here.

Loan Details and Forgiveness
The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll). Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels.  Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

This loan has a maturity of 2 years and an interest rate of .5%.

Please notethe changes in operating hours for the Japan Center Garage. Please share this information with your staff and customers.

SF Assessing Local Business Needs
Please take the time to fill this survey out. It only 5 minutes to complete. It will provide the Office of Small Business, OEWD, SBA, and other CIty departments info as to specific help our small business owners need now and how to reach them.