Featured post

SCORE News You Can Use

Take a look at the sidebar on the right side of this page (or scroll down on your phone). Look for NEWS BY CATEGORY. You can select a category in the pull down menu or in the category cloud. If you’re looking for something more specific, there’s a search box above the cloud. If you still can’t find what you need, scroll up in the sidebar and CONTACT US by phone or email. Of course, you can always request a face-to-face meeting with a mentor. We’re here to help.


Introducing edg3 FUND 2020.

Edg3 Fund 2020.jpg

Kitsap Bank’s edg3 FUND is back and better than ever with more prizes and additional benefits!
This small business competition is for entrepreneurs dedicated to growing their community
economically, socially and environmentally. And in 2020, the competition will also recognize small
businesses that have demonstrated innovation and resiliency during the COVID-19 pandemic.

Prizes –

  • $25,000 edg3 FUND Grand Prize Winner
  • $10,000 Innovation Award
  • $5,000 #causegood Community edg3 Award
  • $5,000 Public Favorite Award

2020 edg3 FUND Timeline –

  • Nomination Period: August 3 – 31
  • Application Period: August 15 – September 15
  • Finalists Announced: October 1
  • Finalist Pitches/Interviews: October 2 – 23
  • Public Vote: October 26 – November 6
  • Winners Announced: November 20

Please note, this is not a needs-based competition; recipients are selected based upon how well they meet the competition criteria. Must be a for-profit business based in Western Washington. All businesses must comply with federal and state laws. Entities that are tax-exempt organizations, non-profits, or charitable trusts are not eligible to participate. Businesses may self-nominate.

Nominate ( Yourself? ) Today

How Your Business Can Respond to Racism in a Social Media World

UpLift Kitsap logo

Date:  July 21, 2020
Time:  3 p.m.
Via: Zoom (link to be provided)
Register Here

As business owners and community leaders, we can make a difference in racism that continues in everyday experiences—the hurt, the pain, the injustices, and the microaggressions. In our digital world, information moves rapidly. We all have a voice. How can we join in the conversation and make a difference? In this Uplift Kitsap, Valarie Harris will share her social media expertise and ideas. Continue reading

Small Business Resilience Hub

While you may be facing uncertainty, there is one thing you can be certain of: SCORE is here for you.

During these difficult times, everyone is talking about survival, uncertainty, and loss—loss of revenue, relationships, and resources. It’s normal and human to feel fear and uncertainty, to wonder about the future of your business.

At SCORE, we get it. And we’re also here to remind you that you are stronger than you think and more powerful than you know.  You are a small business owner, the person who dared to ask what if? The leader who had the courage to take that first step to build a business and a future you believe in.

Visit our Small Business Resilience Hub here

Stuff Happens, Be Prepared

by Kelly Deis of SoundPoint Consulting

If you are a co-owner of a business, let’s hope that you have a buy-sell agreement in place.

Why, you ask? Well, “stuff” happens. The kind of “stuff” that triggers a buy-sell agreement generally falls into five categories, otherwise known as the four D’s and an R:

Death, Disability, Divorce, Disagreement and Retirement.

And when that “stuff” happens, something else also occurs: interests of you and your partner(s) diverge. Inevitably one (or more) owners will be buying – and one will be selling shares of the company.

The problem is that as of today, you do not know which side of the fence you will be on. Wouldn’t it be nice to have a plan in place that both parties understand, deem fair and equitable, and agree on – before either becomes the buyer or the seller?

Don’t think that “stuff” will happen to you or your partner(s)?  Read on and consider the risk if you happen to be wrong.

Continue reading

KEDA Partners with Kitsap County to Administer Small Business Rental Relief Grants

The Kitsap Economic Development Alliance (KEDA) is partnering with Kitsap County to administer KITSAP CARES Small Business Rental Relief Grant Program a small business grant program made possible by federal CARES funds.

Kitsap County has committed up to $880,000 for small business assistance using federal CARES funding. $750,000 to be awarded to businesses in Unincorporated Kitsap County and $130,000 to be awarded to those within incorporated Kitsap County cities. (Incorporated cities in Kitsap County may offer separate funding opportunities.) These funds must be fully distributed by October 31, 2020. The intent of this grant is to reimburse business related commercial rent or lease expenses paid between March 1, 2020 and date of grant application. Continue reading

Should I advertise in a down economy?

by Ken Sethney, Volunteer Business Mentor, SCORE Kitsap

A recent article on money.com dealt with a couple of difficult questions: “What Is a recession, and are we in one?” Three experts answered the questions. From a technical perspective we’re not there yet, but we could be very soon. 

OK, fine. I’m not a college professor, a manager of economic research, or an investment strategies advisor, but from my perspective, we’re smack dab in the middle of a recession. The question we all face is what do we do about it?

If you own a business, you want to cut costs, but where? For some companies the decision is easy… the first cut they make is advertising. But you’re not so sure. Continue reading

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. 

Newest Posts:

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. Continue reading