|Borrowers may be eligible for Paycheck Protection Program (PPP) loan forgiveness|
If you received the Payroll Protection Loan (PPP) make sure you are taking the necessary steps to apply for loan forgiveness.
A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
You can find more information on the SBA Website.
from the office of WA Govenor, Jay Inslee
The American Rescue Plan Act established the Restaurant Revitalization Fund to provide funding to help restaurants and other eligible businesses keep their doors open.
During this live webinar we will discuss:
- What is the Restaurant Revitalization Fund
- Who is eligible to apply
- How much money you can get
- How funds can be used
- How and when to apply
- Where to get help with your application
Staff from SBA will be answering your questions live throughout the presentation with dedicated Q&A time at the end.
Who should attend: Current small business owners who have experienced pandemic related revenue losses who own a restaurant, bar, and other similar places of business that serve food or drink.
What you should know about
April 9 deadline for Working Washington Grants: Round 4
The application portal is still open! This program is administered by the state Department of Commerce and focuses on brick-and-mortar for-profit small businesses, especially those that were required to close due to public health and safety measures. Grant awards will be up to $25,000. Visit commercegrants.com for information. Materials are available in multiple languages and technical assistance teams are ready to help with questions.
WSDA COVID-19 Relief and Recovery Grants for ag-related sectors
The Washington State Department of Agriculture (WSDA) is offering grants to small agriculture-related businesses in sectors that have suffered economically due to the coronavirus pandemic, but have been left out of earlier relief programs.
The WSDA Relief and Recovery grants, funded through a partnership with the state Department of Commerce, are intended to assist small businesses in four agriculture sectors, which include:
- Shellfish growers
- Farmers market organizations
- Agritourism farms
- Small breweries, cideries, wineries, and distilleries that depend on tap and tasting room sales
The application period for the WSDA grants will be open for two weeks, beginning as soon as Friday, April 9. Visit agr.wa.gov/grants to learn more.
- Businesses with lost revenue as a result of closure.
- Businesses with added expenses to maintain safe operations.
- Equitable distribution of grant funds across the state and to businesses owned and operated by historically disadvantaged individuals.
PPP loan borrowers including schedule C filers have until March 31st to submit 1st Draw or 2nd Draw PPP applications unless funds run out or congress extends the deadline.
Contact your local business lender. Visit smallbizhelpwa for additional info. Or call the new PPP Assistance Line 833.562.1078