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Jake’s Takes

President & CEO Update

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Relief Bill to Bring Additional Financial Aid to Businesses

I sure wish I was sharing with you that we were celebrating a return to normal as we begin 2021. It is not a surprise that COVID-19 has continued to rear its ugly head. It is a novel virus after all, meaning most of the population must develop an immunity, either from a vaccine or from joining the herd of COVID survivors. When you are in business, and your numbers aren’t sustainable, patience is not a virtue, it can mean financial peril.

PPP LoanIt is my aim in life to stand my ground where hope can be found. I see a bit of hope in the recent passing into law a $900 billion dollar relief bill, which will provide $325 billion dollars in provisions for small businesses mostly in the form of a second round of Paycheck Protection Program (PPP) forgivable loans and Economic Injury Disaster Loans (EIDL). Now is the time to get in touch with your business banking partner to be sure that your business is in position to be considered for funding. You can read more about what is included in this relief bill by clicking HERE.
Below you will see details on another potential funding opportunity through the State of California. Your business may qualify for a grant of up to $25,000.
Finally, I had the privilege of having lunch outside at From the Hearth with Redding’s new mayor, and local business owner, Erin Resner. She has a number of objectives planned for this year, which are focused on making it easier to do business in the city. We are committed to supporting her efforts. She also has agreed to deliver a message to our members through this enewsletter periodically. Mayor Resner is also about to have her 4th baby, a boy, any day now. Though she was wearing sunglasses, I detected a gleam in her eye when she told me she plans to be the first mayor in Redding’s history to nurse her baby while conducting a city council meeting. Here’s hoping there is a diaper changing station in the city council’s restroom.
This year is young, don’t lose hope!
Jake Mangas
President & CEO
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