Business Continuity Resources
Western Washington University's Small Business Development Center is closely monitoring the impacts to our local businesses caused by the pandemic and its aftermath. We update this page as resources and information become available. We are here to help our small business community thrive during challenging times.
As we move forward, it’s more important than ever to connect with your Western SBDC team of certified business advisors. Your SBDC team can help you plan your responses to business challenges and help you grow. Call your SBDC at (360) 778-1762 or email us at email@example.com and start your journey towards reaching your goals.
Loans, Grants and Other Resources
RESOURCE LISTS UPDATED NOVEMBER 20th, 2021
Working Washington grants for businesses
Another round of grants is expected early next spring, so stay tuned...
Washington State Department of Commerce is offering an array of business assistance to support recovery and growth. Please visit the department's COVID-19 Tools and Resources page for details.
The National Development Council (NDC) and the Washington Economic Development Association (WEDA) host a collection of small business resources at smallbizhelpwa.com
Comcast RISE: Comcast RISE (second phase) offers help to small businesses owned by Black, Indigenous, and People of Color (BIPOC) across Washington state. Today’s announcement opens the program to all business owners in the BIPOC community in Washington state to apply for grants and other forms of assistance. For more details, check our the Comcast RISE website.
GoFundMe and YELP! have created a Small Business Relief Initiative, more details can be found on their Small Business Relief Initiative and Fund FAQs.
Hello Alice with the support of Verizon, Silicon Valley Bank, Ebay, and others is offering a variety of tools and resources. Visit the Hello Alice website for more information.
SBA Lending Options
EIDL Loan & EIDL Advance
Updated November 19th, 2021
The U.S. Small Business Administration (SBA) announced updated guidance for COVID Economic Injury Disaster Loan (EIDL) program applicants to better serve small business owners in need, while funding remains available.
EIDL loan and Targeted Advance applications will be accepted until December 31 and will continue to be processed after this date until funds are exhausted.
Supplemental Targeted Advance applications will be accepted until December 31, eligible small businesses should apply by December 10 to ensure adequate processing time.
Borrowers can request increases up to their maximum eligible loan amount for up to two years after their loan origination date, or until the funds are exhausted, whichever is soonest.
The SBA will accept and review reconsideration and appeal requests for COVID EIDL applications received on or before December 31
COVID Economic Injury Disaster Loan (EIDL) and EIDL Advance programs still have billions of dollars available to help small businesses hard hit by the pandemic.
Major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program include:
Increased COVID EIDL Cap. The SBA lifted the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying off debt.
Implementation of a Deferred Payment Period. The SBA will ensure small business owners will not have to begin COVID EIDL repayment until two years after loan origination.
Expansion of Eligible Use of Funds. COVID EIDL funds are now eligible to prepay commercial debt and make payments on federal business debt.
How to apply
Eligible small businesses, nonprofits, and agricultural businesses in all U.S. states and territories can apply. Visit www.sba.gov/eidl to learn more about eligibility and application requirements. For additional information on COVID EIDL and other recovery programs, please visit www.sba.gov/relief.
Small business owners may call SBA’s Customer Service Center 1-833-853-5638 (855-440-4960 for the deaf and hard-of-hearing) or email DisasterCustomerService@sba.gov for additional assistance. T
Small business owners may also contact SBA’s Resource Partners by visiting www.sba.gov/local-assistance.
Targeted EIDL Advances (grants)
Eligible Whatcom County businesses in low-income areas can apply for up to $14,000 in grant funding through the COVID EIDL Targeted Advance and Supplemental Advance programs.
Interested businesses that already applied for the EIDL advance in 2020 can apply for all three programs at once through one streamlined application.
Businesses located in the certain parts of the Downtown Core, Lettered Streets, York, Sehome, Rosevelt and Cordata neighborhoods, as well as parts of Ferndale and Birch Bay qualify, as do certain other specific areas of the County.
Visit https://sbaeidl.policymap.com/newmaps#/ and input your address to find out if your business is located in a qualifying neighborhood.
Visit https://www.sba.gov/funding-programs/loans/covid-19-relief-options/eidl/targeted-eidl-advance-supplemental-targeted-advance to learn more about these programs.
The SBA EIDL program offers long-term (up to 30 years), low-interest assistance for a small business or nonprofit. These loans can provide vital economic support to help alleviate temporary loss of revenue. Applications are quick and easy to submit.
If an applicant accepted a loan for less than the full amount originally offered, the applicant will have up to two years after the date of the loan promissory note to request additional funds. Applicants may continue to request additional funds even after the application deadline of December 31, 2021.
Visit the COVID-19 Relief page for more information.
Paycheck Protection Loan Program
(Notice: the Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness.
SBA PPP Direct Forgiveness Portal
Register and Apply for PPP Forgiveness
This portal is made available by the US Small Business Administration to streamline forgiveness processing for PPP Borrowers. After registration, you may use this streamlined process to automatically submit your forgiveness request to your lender. Visit the SBA PPP Portal for more information and to register.
The SBA also offers live customer service to borrowers at 877-552-2692.
SBA-Backed Express Bridge Loan
These loans allow small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing and can be a term loans or used to bridge the gap while applying for a direct Economic Injury Disaster Loan. Visit the SBA Pilot loan programs page for more information
Alternative Lending Platforms
Following are some alternative sources of funding but borrowers should use care when working with online lenders.
Working with an SBDC Certified Business Advisor is highly recommended (and free of charge) when considering a business loan.
Inclusion in this list is not an endorsement or a recommendation:
- Prosper (Personal loans up to $40K)
- Lending Club (Personal and business loans)
- OnDeck (Business loans up to $500K, also taking PPP applications)
- Kabbage (Up to $250,000 lines of credit)
- Square (if using Square Point-of-Sale)
- Amazon (for Amazon sellers)
- BoeFly (FinTech platform connecting borrowers to commercial lenders)
Tax Relief Options
Both Federal and State taxing authorities are developing programs to offer deferral of the payment of taxes which can help businesses retain cash to meet operating expenses.
Unless Congress acts, CARES Act and other federal programs that expanded and extended unemployment benefits expire the week ending Sept. 4, 2021.
You can get more information at: https://esd.wa.gov/newsroom/covid-19
Washington State Paid Family & Medical Leave
Financial relief for workers who are themselves sick, subject to quarantine or caring for family members.
You can find out more at https://paidleave.wa.gov/coronavirus.
Labor and Industries also has a great FAQ summary.
Employer Paid Leave Requirements and Tax Credit Provisions
The IRS offers two guides to tax credits for Federal paid leave:
The IRS recently published new information on the generous Employee Retention Credit.
This ERC is one of the most overlooked pandemic financial relief options out there - get some soon!
Small Business Guides
Federal Resources for U.S. Small Businesses:
- Visit the official Federal resource website for U.S. small businesses affected by COVID-19 (Coronavirus). View relevant federal agency resources, access the latest news, and search for specific answers.
- For free tools and resources for the business community, curated by experts in business, health and communications, visit The Health Action Alliance site.
From the State of Washington:
- The Department of Labor and Industries has several guides to help businesses in recovery. all are available at the Novel Coronavirus Outbreak (COVID-19) Resources site.
- Information for re-opening
- Labor and Industries work place safety guidelines.
More Guides and Resources
- Pandemic human resources help from ComplyRight.com, expert solutions to help businesses comply with employee-related laws. Vaccinations, masks, remote work, employee reviews and more, all at the ComplyRight Covid HR Resources site.
- Industry information, startup info and much more, at www.sbdcnet.org/
Additional Business Resources
- Washington Governor's Office - Financial Assistance & Employer Assistance Info
- Preparedness for Businesses & Non-profits (guidelines, checklists & video)
- Business Re-Opening Toolkit (from WA Association of Washington Businesses)