SBDC Questions and Answers
I am a small business owner who can’t pay my commercial rent. What are my options?
Answered 1 year ago
Per GO-Biz (Governor’s Office of Small Business Development): “Is there any relief for small business owners who pay rent for their space but have had to close due to the coronavirus? ANSWER: Governor Newsom’s March 16th executive order suspends all state laws that would prevent local governments from enacting policies to protect you as a resident or business owner from eviction because of nonpayment of rent due to COVID-19. As a resident or business owner, a financial institution holding your home or commercial mortgage is requested to implement an immediate moratorium on a foreclosure involving you, when the foreclosure or foreclosure-related eviction arises from economic hardship caused by COVID-19 conditions. In order to protect renters, homeowners and commercial tenants during this pandemic, Governor Newsom’s executive order has removed state-law limitations on local governments to halt evictions in the midst of the outbreak.”