Financial Resources

The City of Ventura’s Economic Development Division strives to connect Ventura businesses with local, state and federal financial resources, programs and relief options.

Financial Resources Button

Grant & Loan Opportunities

PPP, EIDL & Expanded Unemployment Benefit Information 

Paycheck Protection Program (PPP)
The PPP will be re-opening the week of January 11, 2021 for new borrowers and certain existing PPP borrowers. If you have already received PPP, you may be eligible for a second drawPlease contact the same lending institution you previously received PPP through if you are able to. 
Important Dates:
  • January 11, 2021: Participating Community Financial Institutions will be able to accept first draw applications. 
  • January 13, 2021: Participating Community Financial Institutions will be able to accept second draw applications.
  • Shortly Thereafter: All additional participating financial institutions will be able to accept applications.
  • March 31, 2021: Loans are available through March 31, 2021 OR until all allocated funds are exhausted. 

CLICK HERE to learn more.

Economic Disaster Injury Loans (EIDL)
This low-interest federal disaster loan for working capital to small businesses suffering substantial economic injury as a result of COVID-19 is available now. New Extended Deadline: December 31, 2021.

CLICK HERE to learn more.

Expanded Unemployment Benefits
  • Pandemic Unemployment Assistance (PUA, for those self-employed, freelancers or independent contractors, is extended until March 14, 2021, and the maximum number of weeks of eligibility is extended from 39 weeks to 50 weeks. 
  • Federal Pandemic Unemployment Compensation (FPUC), an additional payment for those collecting certain unemployment insurance benefits (including regular unemployment compensation, PUA and PEUC), is reinstated at $300 per week from the week after December 26, 2020 and runs through March 14, 2021.
  • Pandemic Emergency Unemployment Compensation (PEUC), for those who have exhausted their regular unemployment compensation benefits, is extended until March 14, 2021 and the number of weeks of eligibility is extended from 13 weeks to 24 weeks.
Please note the following: 
  • Many accounts were suspended due to a high volume of fraud. The EDD is working to address these issues before the new federal funding rolls out. If your account was suspended, please continue to certify as usual. They will send you an email between January 6, 2021 and January 14, 2021 to upload your personal ID documents.
  • If you were receiving Unemployment Insurance/Pandemic Unemployment Assistance and have not received monies, please continue certifying your unemployment as usual. The EDD hopes to begin sending out the new federal funds the week of January 11, 2021 or January 18, 2021. The additional $300/week will continue for 11 weeks. 
  • If there has been no movement on your account for 2 weeks, your claim will need to be directed to your local assembly member’s office. Please reach out to us at 805.409.9159 (ENGLISH) or 805.309.5874 (SPANISH).

CLICK HERE to learn more.

Employee Retention Tax Credit (ERTC) 
The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% to 70% of qualified wages up to $10,000 in the aggregate for all calendar quarters to $14,000 per calendar quarter for 2021 paid by an eligible employer whose business has been financially impacted by COVID-19.

CLICK HERE to learn more.

State and Federal Programs

Small Business Administration (SBA)

  • SBA Paycheck Protection Program (PPP): Loan designed to provide a direct incentive for small businesses to keep their workers on payroll. 
  • SBA Economic Injury Disaster Loans (EIDL): Small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance up to $10,000.
  • SBA Express Bridge Loan: Loan allows small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. 

Economic Development Department (EDD) - State Unemployment

  • EDD Unemployment: Current unemployment benefits have been expanded to self-employed for those that have lost hours or wages due to the impact of Covid-19 you are encouraged to file for unemployment.
  • EDD Partial Unemployment:Employers that want to keep their employees. Employees are not required to look for a new job because the employer has certified that there will be a job for you at a future date. You are considered partially unemployed. 
  • EDD Workshare: Minimize or eliminate the need for layoffs.

State of California has released a Small Business Disaster Loan Fund Guarantee Program - This program, backed by IBANK, is intended to provide loans to businesses impacted by COVID19. Please note: IBANK is not a direct lender which means that businesses seeking capital will need to find lenders that are participating in this program.

Additional Resources

U.S. Chamber of Commerce - The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated almost $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. The U.S. Chamber of Commerce has issued this guide to help small businesses and self-employed individuals check eligibility and prepare to file for a loan.

California Association for Local Economic Development (CALED)

  • A clearinghouse for federal, state, and local resources that provide guidance as well as examples of what communities are doing to help their local businesses.

Labor & Workforce Development Agency:  Guidance for Employers & Workforce

  • In the face of the COVID-19, the Labor & Workforce Development Agency (LWDA) provides a centralized source of information for workers, employers, and co-workers.