Riverside, California 2021-01-13 21:40:08 –
A riverside SME hit by a coronavirus pandemic has the opportunity to receive financial relief on Tuesday night, January 12, after a city initiative built around deposits in electricity and water businesses has passed. There is.
The Riverside City Council voted 7-0 to temporarily apply utility deposits to companies with 50 or less workers to pay unpaid invoices or the next service between now and March 31. I was allowed to. The city provides electricity and water services on the riverside.
City council member Ronaldo Fiero said he introduced the initiative because pandemic-related regulations are stricter on riverside businesses, especially small businesses.
“When COVID began, it became clear that the impact on SMEs would be enormous,” he said. “This kind of turmoil can destroy many of our small businesses overnight.”
According to Fiero, the city has set a temporary ban on utilities, allowed businesses to operate outdoors and in city parks, and distributed federal coronavirus bailouts to ease the burden from spring. We are taking measures. But he said he needed to do more.
Fiero’s field representative, Caleb Lagan, said business owners would be readily available.
According to Ragan, owners can call the Riverside Public Utilities Call Center (951-782-0330 or 311) or send an email to callcenter @ riversideca.gov. He added that the program’s web page is located at riversideca.gov/utilities/residents/rebates-assistance.asp.
According to city records, there are 3,253 companies on the riverside with less than 50 employees. And he said small businesses typically deposit deposits in the range of $ 2,500 to $ 3,000.
Fiero suggested that their plight was reflected in the soaring delinquency rates.
As of December 15, the city reported that all utility customers, housing and commercial delinquency totaled $ 20 million, an increase of $ 15 million over the previous year.
According to the report, 57% of commercial customers are delinquent for at least 60 days.
Fiero has proposed using the $ 3.7 million utility deposits that the city holds for commercial accounts to help businesses catch up and curb delinquency rates.
He said he chose to focus on moms and pops and other small operators. Because they are particularly vulnerable to restrictions, many are at risk of closing their doors.
“SMEs, unlike large commercial companies, do not have the ability to survive such a storm alone,” Fiero told a colleague, according to a videotape of the conference.
Fiero said some owners approached him about applying deposits to bills.
One is Rico Alderette, owner of the Magnolia Center’s MADE shop, which provides a place for more than 150 artists and product makers to sell their products.
According to Alderett, he has three employees (he, his wife, and another worker), and 2021 is his sixth year of business operations.
He said earnings are growing at an annual rate of 20% and that 2020 is expected to be the year in which he will ultimately make a profit. He said a pandemic then broke out and instead revenue plummeted 32%.
According to Alderett, it’s difficult to reach the goal. He said cash flow challenges would be eased if a deposit of about $ 2,000 could be used for the next utility bill.
To be eligible for credit, you must have 50 or less full-time employees as of December 31, 2019, have been damaged by COVID-19 restrictions and are not classified as mandatory employers. , You must prove in writing that you have paid. The report said it would charge utility bills on time before the pandemic.
The deadline for applying for relief is March 31st.
Riverside offers utility bill relief to small businesses hit by coronavirus – Press Enterprise Source link Riverside offers utility bill relief to small businesses hit by coronavirus – Press Enterprise