Business Resources

The City of Irvine remains committed to providing helpful resources and information to assist our business community. If you have questions or need assistance regarding these programs, please contact Kaitlyn Nguyen, Economic Development Manager, at 951-295-5574 or In addition, please visit our FAQ page

Orange County Business Council ReOpen OC Safely General Guidelines

Requirements and Best Practices for Reopening Your Business Safely and Within Current Guidelines
ReOpen OC Safely was developed in collaboration with Greater Irvine Chamber of Commerce, North Orange County Chamber of Commerce, Anaheim Chamber of Commerce, Santa Ana Chamber of Commerce, and Visit Anaheim as a resource to prepare to safely reopen for business as the county continues to respond to the COVID-19 crisis. 

To help keep workers employed amid the pandemic and economic downturn, the Small Business Administration (SBA) is currently providing two (2) essential financial resources, including the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP).

Companies in Irvine are encouraged to apply for the EIDL and PPP. A PPP loan can be used to cover payroll costs (forgivable) while the EIDL can be used for non-payroll expenses. These critical financial resources provide much needed cash-flow for businesses and income for employees during the worst of the crisis.
Below is a summary of both programs.
This loan program provides financial assistance to small businesses/companies (including sole proprietors, self-employed individuals, and independent contractors) as a vital economic support to help overcome the temporary loss of revenue they are currently experiencing. The loans may be used to pay debts, payroll, accounts payable, and other bills that cannot be paid because of the COVID-19 impact.
If anyone applied for an EIDL “before” Monday, March 30th, please reapply here. If you applied “on” March 30th, or after, there is no need to reapply.
Below are the Terms & Conditions of the EIDL:
  • Eligible Businesses in existence on January 31,2020:
All businesses with fewer than 500 employees
Veterans organizations
Tribal businesses
Sole proprietors
Self-employed individuals
Independent contractors (1099 individuals)
  • Loan Amount: Up to $2 million (SBA decides how much they will loan)
  • Loan Deferment: Payments on COVID-19 EIDL loans are deferred for one (1) year
  • Interest Rate: 3.75% (2.75% for non-profits)
  • Term: Up to 30 years
  • Collateral is required (Exception: No collateral is required for loans of $25,000 or less.)
  • Personal guarantee is required – The approved amount will depend on type of company and the character of the entity (Exception: Up to $200,000 can be approved without a personal guarantee)
  • Approval can be based on a credit score and no first-year tax returns are required
  • Borrowers do not have to prove they could not get credit elsewhere
  • Processing Time: from 14 to 21 days
Emergency Grant:
  • Applicants of an EIDL can receive up to $10,000 forgivable funds.
  • Applicants must check the $10,000 box at the bottom of the online COVID-19 ECONOMIC INJURY DISASTER LOAN APPLICATION (This is where you apply for a loan).
  • There is no obligation to repay the approved amount.
  • Funds can be received within three (3) days of application.
  • Funding is available through December 31, 2020.
  • Please Note: If you secure a PPP loan, the EIDL grant amount (up to $10,000) will be subtracted from the PPP forgiveness amount.
Companies with existing SBA loans can apply for a deferment to end of 2020 and apply for a new EIDL.
All applicants must provide all the information required on the web page.
PPP (To Apply: Contact a bank or a credit union, here is a sample Paycheck Protection Program Application Form):
This initiative provides 100% federally guaranteed loans to help companies (and others, including sole proprietors, self-employed individuals and independent contractors) maintain payroll during this crisis. Importantly, these loans may be forgiven if borrowers maintain their payrolls during this emergency or restore their payrolls afterward.
Companies can borrow up to $10 million to cover ALL payroll related expenses (salaries, wages, commissions, health, benefits, incentives, etc.). Additionally, funds can also be used to pay interest on mortgages, rent, and utilities. There is no obligation to repay funds spent on payroll costs and other qualified expenses. However, payroll costs are capped at $100,000 on an annualized basis for each employee. It is anticipated that at least 75% of the forgiven amount (non-taxable grant) must have been used for payroll costs, and not more than 25% of the forgiven amount may be for non-payroll costs.
This program covers eight (8) weeks of payroll time between the retroactive dates of February 15, 2020 and June 30, 2020. Any excess expenses will go into an EIDL if you applied. Here is a formula for calculating an estimated payroll cost: 12 months of payroll expenses divided by 12 equals monthly average multiply by 2.5.
There is no SBA online loan application for PPP, but the loans are federally insured. SBA has a network of at least 1,800 approved lenders to process small business loans. Applicants are encouraged to contact their personal or business banker. If your bank is not an SBA-approved lender or you do not have an existing banking relationship, you can contact the SBA to find one. Banks and credit unions may require an account to be set up.
Below are the Terms & Conditions of the PPP:
  • Eligible Businesses in existence on January 31, 2020:
All businesses with fewer than 500 employees
Veterans organizations
Tribal businesses
Sole proprietors
Self-employed individuals
Independent contractors (1099 individuals)
  • Loan Amount: Up to $10 million (SBA decides how much they will loan)
  • Loan Forgiveness: Proceeds used for payroll costs and other designated business operating expenses in the 8 weeks following the date of loan origination (between the retroactive date of February 15, 2020 through June 30, 2020)
  • Interest Rate: 0.5%
  • Term: 2 years
  • Payment Deferment: First payment will be deferred for six (6) months
  • 100% guarantee by SBA
  • No collateral
  • No personal guarantees
  • No borrower or lender fees payable to SBA
When can I apply?
  • Starting April 3, 2020, small businesses and sole proprietorship can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
  • Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses through existing SBA lenders.
How to Apply?
Contact your personal bank or business banker, a credit union, or any SBA-approved lenders.
Below is a the list of documents you will need to apply for a PPP loan: