Category Archives: COVID-19

Things You Should Know About the Paycheck Protection Program (PPP)

SBA and Treasury Announce New EZ & Revised Full Forgiveness Applications for the Paycheck Protection Program

Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness applicationimplementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

  • Are self-employed and have no employees; OR
  • Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
  • Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.

The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form. 

Also see SBA Finally Clarifies PPP Loan Forgiveness Rules: Full Forgiveness For Self-Employed Borrowers

New information about PPP forgiveness — and EIDL reopens.

Keep an eye on the Kitsap Economic Development Alliance blog for breaking news about changes in COVID recovery programs. 

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SBA’s Economic Injury Disaster Loans and Advance Program Reopened

To further meet the needs of U.S. small businesses and non-profits, the U.S. Small Business Administration reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.

“The SBA is strongly committed to working around the clock, providing dedicated emergency assistance to the small businesses and non-profits that are facing economic disruption due to the COVID-19 impact.With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency grants –reducing the economic impacts for their businesses, employees and communities they support,” said SBA Administrator Jovita Carranza.“

Since EIDL assistance due to the pandemic first became available to small businesses located in every state and territory, SBA has worked to provide the greatest amount of emergency economic relief possible. Tomeet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”

Learn more

5 Things You Should Know About the Paycheck Protection Program (PPP)

1. There is more than $130 billion in PPP funding still available … and now, more flexibility too.

PPP funds are still available for small businesses, independent contractors, nonprofits and tribal businesses whose operations were impacted by the Coronavirus outbreak. And with the enactment of the Paycheck Protection Program Flexibility Act, there is more flexibility, such as the extension of time to spend loan proceeds from eight weeks to 24 weeks and the expansion in the percentage of funds that can be used for non-payroll expenses. Read more in this joint statement from SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin.

New PPP Flexibility 

2. The last date on which a PPP loan application can be approved is June 30, 2020.

While many extensions and flexibilities were enacted with recent legislation, one date still remains: the last day a PPP loan application can be approved is June 30, 2020. That means now is the time to apply for a PPP loan before time runs out. Find a PPP lender — or even review PPP materials in 17 languages — by visiting www.sba.gov/paycheckprotection.

Find a PPP lender

3. SBA Resource Partners can help you with the PPP application or loan forgiveness process.

Through webinars, virtual meetings and phone calls, business advisers from the SBA Resource Partner Network are helping small businesses navigate through the PPP process. Plus, they are working with businesses on their individual recovery plans. Connect with a SBA Resource Partner near you or one of the many other helpful resources from the Federal Resources for Small Business website.

Connect with an adviser

4. We want to know how the PPP has helped your business. 

We’ve been answering a lot of questions from businesses about the PPP process along the way. Now we want to hear the end result. Tell us your story of how the PPP has helped your business and your employees.

Tell us your story

5. Report fraud to the SBA Office of Inspector General.

While new programs are helping people through difficult times, unfortunately, it comes with new avenues for scams and fraud. If you suspect fraud on an SBA program or want to learn more about known scams and alerts, visit the SBA Office of Inspector General website.

Report fraud, waste or abuse 


From the SBA Pacific Northwest Regional Office

COVID-19 Reopening Guidance for Businesses and Workers

For the latest COVID-19 information and resources visit coronavirus.wa.gov.

On May 4th, 2020 Governor Inslee signed Proclamation 20-25.3 and outlined the “Safe Start” plan, a phased approach to re-open Washington’s economy. Under the plan, businesses and activities will re-open in phases with adequate social distancing measures & health standards in place. Businesses may also need to meet additional requirements developed specifically for their industry.

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The Impact of COVID-19 on Startups – April 2020

Infographic: The Impact of COVID-19 on Startups - April 2020

SCORE surveyed pre-startups and startups in early April 2020 about how they think how coronavirus could affect their business, and this infographic highlights the findings.

Data from a SCORE survey conducted from April 3-16, 2020. 492 business owners responded with 125 respondents identified as thinking of starting a business or in their first year of business ownership.

  • 65% of those surveyed are solopreneurs
  • 28% have 2 to 5 employees
  • 5% have 6 to 10 employees
  • 2% have 11 to 20 employees
  • 2% have 21+ employees

The respondents owned businesses in the industries below:

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PPP or Paycheck Protection Program Q&A

The Paycheck Protection Program was established by the CARES Act. The US Treasury website outlines all of the policies on one page and it’s the best resource for getting questions answered. For a quick reference, I’m including all of the topics below including the  Frequently Asked Questions (5/6/2020) which you will find under the program rules.

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How can I keep my business going during and after this pandemic?

by Ken Sethney, Volunteer Business Mentor, SCORE Kitsap

Every business owner I’ve had a conversation with in the last month or so is struggling to answer that question. It doesn’t matter what they sell, products or services, they are struggling to find answers to very difficult questions. Almost everyone in start-up mode has simply stopped. 

So, what should they do? What should you do? My suggestion is to keep moving forward. 

One of my SCORE clients owns a well established business with several employees. She and her team provide therapeutic services, but they don’t qualify as “essential.” 

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How can I keep my business going?

by Ken Sethney, Volunteer Business Mentor, SCORE Kitsap

Every business owner I’ve had a conversation with in the last month or so is struggling to answer that question. It doesn’t matter what they sell, products or services, they are struggling to find answers to very difficult questions. Almost everyone in start-up mode has simply stopped. 

So, what should they do? What should you do? My suggestion is to keep moving forward. 

One of my SCORE clients owns a well established business with several employees. She and her team provide therapeutic services, but they don’t qualify as “essential.” 

After giving the shelter-in-place problem some thought, she decided to focus on the sale of complimentary products the customers used to purchase at the front counter as they left her facility. 

The products are promoted online. Orders are placed online or by telephone, and they are delivered by a very essential delivery service. Her team is working. Revenue is being generated. Her client base feels like they are being served by people who really care. 

A friend of mine owns a coffee shop/café. She didn’t have to close her doors, but she had to stack up the tables and chairs. People walk up, place orders, and take their coffee and treats out the door. Sales aren’t normal, but they are a lot better than zero. 

Many years ago, I had to deal with an emergency. The fellow I worked for gave me a call and told me that he was closing his advertising agency for medical reasons. There wasn’t a pandemic, but he lost his company and 36 people lost their jobs. I wasn’t a happy guy. 

That said, after two days of wondering what I should do, I had a plan. I couldn’t afford to buy the agency, so I would create my own. I decided to create a virtual ad agency staffed by creative people willing to be independent contractors. 

I knew lots of artists, illustrators, photographers, and more, that didn’t want to work for anybody full time. I would call the VP’s of Sales & Marketing for the top 50 companies in Orange County California and see if I could get some projects. 

I had never made a sales call in my life, but I know I would have to do it. In three weeks, I had my first job. In a few months, I didn’t have time to make any more sales calls. I had lots of projects and my clients were calling me to see if I could help with something new. 

As a volunteer business mentor, I’ve met with hundreds of people in Kitsap County over the last 5 or 6 years. Many have started businesses or grown the ones they owned. 

If you asked me for advice, I would encourage you to find a new way to use your skills and abilities to serve your customers or find new ones. I would ask you what you might do differently now than you had done in the past. Maybe your idea would help a little while we’re all waiting to get our economy back up to speed. Or, maybe it would open a new path that would help you make your future bigger and better than it had ever been. 

If you would like to meet with an experienced business person who has volunteered his or her time to help people like you, reach out to a SCORE mentor today!

Ken Sethney is a volunteer business mentor and branch manager for SCORE Kitsap. He started his first business in 1976, and several more after that. Contact him by email at ken.sethney@scorevolunteer.org.