Capstone Advisors’ COVID-19 Response & Resources

During this unprecedented time, we remain committed to the health and safety of our tenants, their customers and our employees. We continue to educate our teams and implement the evolving strategies to assist in preventing the spread of the coronavirus. We are following the direction of the leading health authority, the Centers for Disease Control (CDC), and other health organizations to ensure we are doing everything possible to maintain a safe environment at all of our properties. In addition, we are heeding the instruction of local, statewide, and federal regulations.

We have instituted enhanced cleaning efforts throughout each of our properties. These actions include the frequent cleaning and disinfecting of hard surfaces and frequently touched areas throughout all public spaces. This focus on cleanliness and sanitation has always been imperative to our operation and is now, even more than ever, a top priority for our properties.

Many of our retail sites have restaurants that will remain open for take-out and delivery orders, and many of our other local tenants are adjusting their businesses to respond to the unique challenges presented by this pandemic. Please support the locally owned businesses in your area by continuing to patronize them in a safe and health-conscious manner.

The Capstone Advisors corporate team is now working in dispersed locations in order to practice social distancing and help limit the spread of Covid-19. However, we are fully staffed and available to assist you during these challenging times. You can reach us at our corporate office at (760) 804-6900.

Small Business Resources

To our tenants,

You are more than our customers – you are an important part of the fabric of our community. Your business is part of the backbone of this country, and it is critically important to our economy. We are with you during this challenging period and will be a resource and collaborative partner as we work together to get through this. Capstone Advisors is defined by the shops, restaurants, and operators that create vibrant and inspiring places. We are committed to cultivating strength and unity within our portfolio and have compiled the resources below to help support you during the struggles presented by COVID-19.

BUSINESS ASSISTANCE

The United States and state governments have established programs that may provide individuals and small and mid-sized businesses assistance to minimize the economic impact of the novel Coronavirus Disease 2019 (COVID-19). We encourage you to research any such programs that may be applicable to your situation or business. One of the major programs is through the U.S. Small Business Administration which will provide capital and liquidity to certain businesses affected by the coronavirus. Capstone has compiled this site for informational purposes only and recommends that users verify all posted information with the appropriate authority.

The U.S. Senate Committee on Small Business & Entrepreneurship has published a comprehensive guide to the Coronavirus Aid, Relief, and Economic Security (CARES) Act with resources as guided by the SBA and the Department of Treasury.

◈ Review the The Small Business Owner’s Guide to the CARES Act here.

◈ ICSC provides answers to some FAQ about the CARES Act

Please visit the SBA website for guidance for businesses and employers impacted by COVID-19. On the SBA website, you will find:

FINANCIAL RESOURCES

Local and national governments, in addition to financial technology companies, are offering loans to support disaster relief. Small Business Association (SBA) loans typically come with lower interest rates and are guaranteed by the government; alternatives such as Intuit QuickBooks Capital, Square Capital, Kabbage, and Toast are also options for small businesses. Facebook also announced they will be offering loans to qualifying businesses, with details to be updated here. We encourage you to research into what makes the most sense for your business, with several options listed below:

Small Business Association Disaster Loan Program: The SBA is working directly with state Governors to provide small businesses with working capital loans of up to $2 million to overcome temporary loss. These loans may be used to pay fixed debts, payroll, accounts payable, and other bills. Email disastercustomerservices@sba.gov, call 1-800-659-2955 or apply here.
- - Lender Match Program: Lender Match is a free online referral tool that connects small businesses with participating SBA-approved lenders. Find out more here.
  - SBA’s Local Assistance Directory: The SBA works with a number of local partners to counsel, mentor, and train small businesses. See what’s near you here.
  - A Summary of Additional SBA Funding Resources found here.

Intuit Small Business Funding (for QuickBooks customers): If you are a QuickBooks customer with personal and business credit history and revenue of at least $50,000 over the past 12 months, you may be eligible for a loan up to $100,000. Apply here.
Square Capital Financing: If you are a Square customer, Square Capital supports eligible businesses with loans between $500-$250,000. Log in to your Square Dashboard, or learn more here.
Toast Capital Financing: If you are a Toast customer, eligible restaurants can access capital without a credit score requirement via Toast Capital. Learn more here.
Kabbage Line of Credit: Kabbage provides small businesses with a simple online application that can be paid over 6, 12, or 18 months with no origination fees. If it makes sense for your business, you can explore applying to a line of credit up to $250,000 here.
Bank Relief: A list of some banks providing relief during this time can be found here.
Crowdfunding: Some businesses are appealing to crowds of loyal customers, donors, and communities that can contribute to their business via crowdfunding platforms. GoFundMe has compiled COVID-19-related efforts here.

MAINTAINING OPERATIONS

Restaurants and local businesses can appeal to loyal customers during this period via social media, virtual communication, and amended operations. The following might be options for your business:

Partner with Nonprofits Serving Communities in Need: Some organizations have launched to use donation money to purchase meals from restaurants that then get donated to doctors or people in need. Consider partnering with such organizations in your local community.
Pickup: Curbside or “contact-less” pickup can be a good way to distribute food without the delivery fees or hassle; exchange dry-cleaning items; deliver merchandise purchased online; or provide other goods and services. Additionally, pick-up can be facilitated for large meals or freezer-ready meals customers can store during their time at home. One way to do this is to promote phone-in or online orders via social media, or use tools like SwipeBy to setup food delivery.
Delivery (For Food & Beverages): More restaurants are opting into “no-contact” delivery. Among the many delivery options, it was announced that GrubHub and UberEats are waiving delivery fees; you can become a GrubHub partner to access fee-free delivery here or consider registering with UberEats here. You can also consider DoorDash or other local services. If you offer in-house delivery, be sure to specify to your customers and communicate clearly about delivery times.
Gift Cards: Consumers have demonstrated an interest in buying gift cards at local businesses to support them during closures and quarantine. Offering full-price or discounted gift cards can provide a way for loyal customers to support you. Supportrestaurants.org has launched a “dining bonds” program — learn how to participate here. If you are a Square customer, you can use the platform to create digital gift cards. Kabbage also launched a free gift card portal with immediate access to earnings here. Social media can be a powerful way to share offers.
Merchandise: Similar to gift cards, selling merchandise online such as hats, shirts, pins, bottle openers etc. can be a great way to generate customer support. Should delivery not be an option, merchandise might be “pre-ordered” to be reserved for pickup at a later date.
At Home Tutorials: Many businesses are offering livestream classes and sessions at discounted rates (such as $6 yoga classes via livestream or a $50 week-long cooking class subscription). Consider ways to bring your business experience into the home using video conferencing tools.

COMMUNICATION

Leverage Social Media: Use social media accounts to promote offerings or maintain customer contact. We have seen community and neighborhood accounts take action on behalf of a coalition of local businesses. Consider reaching-out to relevant groups that reach broader audiences. Examples include your local City pages, Chamber of Commerce, Restaurant or Business Associations, or other community groups. Resources like Instagram TV or Facebook Live are also being used by some businesses to create engaging and educational content such as a virtual workout or educational session.
Amex Small Business Resource Center: American Express-accepting businesses can access free communication and marketing resources through the Amex SMB Resources Center, such as advertising to Amex customers based on if they shop at similar businesses. Learn more here.
Update Customers: If you have mailing lists or websites, it may make sense to craft a message that informs customers of operations updates (e.g. takeout and delivery only), gift card and merchandise opportunities, virtual engagement, and social media. Toast posted their recommendations on how to best approach communication here.

EMPLOYEE MANAGEMENT

Manage Health and Safety: The CDC is continuously updating their recommendations for employers here.
Remote Work: If relevant, a guide for an emergency remote work policy can be found here.
Management Considerations: Management Consulting firm, McKinsey, publishes a brief on how to best manage actions, employee expectations, and business realities here.
Supporting Employee Families: Non-profits and crowdfunding sites are mobilizing to provide resources, meals, and relief to service industry families. Feeding America has launched a nationwide effort, and Meals on Wheels is a resource for seniors. Family members seeking employment might consider this list of retailers hiring temporary and full time roles during this time.

Additional COVID-19 Information

Health Resources

Please locate region-specific information via your city or county health department websites.

State Resources

Some states are offering specific guidance and assistance for businesses and individuals impacted by COVID-19. You can access this information through your local and state government websites. Below is a list of resources for the states in which Capstone Advisors operates.

Arizona

California

Nevada

Virginia

All resources compiled on this site are for general information only and do not constitute a formal recommendation by Capstone Advisors. We encourage everyone to independently research what options make the most sense for their businesses.