King County Business Clients Affected by COVID-19 Resources

For those business in King County affected by COVID-19, below is information on potential resources/information gathering options available for affected businesses.

King County’s Small Business Task Force is holding webinars to help small businesses in our area understand, navigate, and access resources to weather the impacts of COVID-19 and social distancing.

Join our next webinar

Friday, April 10, 2:30-3:30 (via Zoom)

Topic: CARES Act Paycheck Protection Program (SBA Loans)

Speaker: Joe Sky-Tucker, Executive Director, Business Impact NW

Participants will be able to ask questions and share concerns.

Business Impact NW is one of Washington’s leading community development and business assistance organizations. It specializes in helping small and micro businesses achieve financial stability. Joe will present on Small Business Administration loan details and implications and loan forgiveness.

----- Register in advance for this meeting: https://kingcounty.zoom.us/meeting/register/tJYtfuGsrzMi_71F7lHCdYjl9bJcPZW_Xg After registering, you’ll receive a confirmation email with information about joining the meeting. -----

Assistance available from the U.S. Small Business Association (SBA)

Economic Injury Disaster Loans and Emergency Economic Injury grants

The SBA is offering an emergency advance of up to $10,000, within three days of application, to small businesses and private nonprofits harmed by COVID-19. First, apply for an Economic Injury Disaster Loan, and then request the advance. The advance does not need to be repaid under any circumstance, and may be used to keep employees on payroll, to pay for sick leave, to meet increased production costs due to supply chain disruptions, or to pay business obligations, including debts, rent, and mortgage payments.

Paycheck Protection Program loans

The SBA is offering forgivable loans for up to eight weeks of payroll to employers who maintain their payrolls during this emergency. These loans have no Small Business Administration fees and have deferrals of between six months and one year. Small businesses can apply if they were or will be harmed by COVID-19 between Feb. 15 and June 30 of this year. These loans can help bring workers who have already been laid off back onto payrolls. Loans are available through June 30, 2020. All current SBA 7(a) lenders are eligible lenders for these loans. We encourage interested businesses to check with their local banks to see if they offer this product.

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Contact the King County Small Business Task Force Send email: business.outreach@kingcounty.gov Or call: Hugo Garcia, Economic Development Program Manager, 206–263-2821