Register here
The Washington State Small Business Flex Fund is a new loan program for the smallest Washington businesses and nonprofits affected by COVID-19. To be eligible to apply, small businesses and nonprofits must employ 50 or fewer full-time equivalent (FTE) employees, have annual revenues of less than $3 million per year, and experience a direct economic disruption as a result of COVID-19.
Should you apply? What should you prepare if you decide to apply?
This webinar will provide information about the loan program and application process and help you prepare to apply.
Some of the topics covered will be:
- The Flex Fund
- Eligibility
- Loan Size
- Use of Funds
- Term & Interest
- Step by step in the pre-application portal and moving to the lender’s application
- What is and is not required to apply
- What will cause a declined application
- Key Parts of a Loan Application
- Underwriting Tips
- What does a lender look for
Questions will be answered as time allows.
Register here: https://pxlme.me/EIDLupdate2
We will provide simultaneous interpretation to assist non-English speakers. Indicate language preference when registering.
Small businesses and nonprofits still have time to apply for long term 30-year, low interest loans and small grants through the SBA’s Economic Injury Disaster Loan (EIDL) Program.
Join representatives from the U.S. Small Business Administration (SBA) as they provide updates and share everything you need to know about these EIDL programs. Translated versions of the EIDL application will also be available for notetaking during the webinar.
General EIDL Program Overview:
- 30-year loans for up to $500,000 at a 3.75% fixed interest rate (2.75% for nonprofits) with no pre-payment penalty
- Two grant programs, the $10,000 – Targeted EIDL Advance and the $5,000 -Supplemental EIDL Advance are earmarked for businesses in low-income communities. To be considered for these grants, an organization must apply for a loan. Organizations can be awarded grants even if they are denied a loan or decide not to accept it
Expected updates to the EIDL Program include:
- Raising the maximum loan amount from $500,000 up to $2 million while also increasing the aggregate loan cap up to $10 million
- A waiver of affiliation rules (that mirrors that of the Paycheck Protection Program)
- Funds can now be used to pay down prior commercial debt and make monthly payments towards federal debt (including principal and interest payments)
We will host a Q&A session as time allows – feel free to submit your questions in advance when registering. If you are unable to attend the live webinar, please register to receive an email link to the recording.
Register here: https://pxlme.me/PPPPortal2
Join us to learn more about the SBA’s New PPP Forgiveness Portal which was launched on Wednesday, August 4th. This portal allows businesses with Paycheck Protection Program (PPP) loans of $150,000 or less to submit simple forgiveness applications directly to SBA, as long as their specific lender participates in the portal. Over 600 banks have opted in, enabling over 2.17mm borrowers to apply through the portal — this represents 30% of loans $150,000 or less that have not yet submitted for forgiveness.
The webinar will review:
- Who is eligible to use the SBA PPP Direct Forgiveness Portal
- What information you will need
- How to create a login and apply for forgiveness
- Where to get help with your application
NOTE: all PPP borrowers are required to submit forgiveness applications within 10 months of the last day of your covered period in order to convert your loan to a grant that does not need to be paid back. For loans above $150,000, you will need to submit your forgiveness application directly to your bank lender.
We will host a Q&A session as time allows – feel free to submit your questions in advance when registering. If you are unable to attend the live webinar, please register to receive an email link to the recording.
Register here: https://pxlme.me/smartwa1
Washington state’s economy fully re-opened on June 30, but businesses continue to be impacted by the ongoing pandemic. A new tool can help businesses see which health protocols such as employee vaccination, cleanliness measures, and safety certification are likely to increase consumer confidence and foot traffic in customer-facing industries, like restaurants, retail, and personal services.
View the SmartWA Decision Support Tool
Click here to watch an informational video
Speakers will provide a demo of the tool and show how it can be used to inform business re-opening policy.
About the Smart WA Decision Tool
The SmartWA tool uses data and artificial intelligence to provide small businesses most impacted by the pandemic with real-time outlooks about public health, economic and community conditions by county and industry. The tool is currently available in English, Spanish, Tagalog, Simplified Chinese, Vietnamese, and French.
The Washington State Department of Commerce launched the SmartWA tool, which was developed by Restart Partners and its partners ChoiceFlows and Tanjo.ai. The state Departments of Health and Labor & Industries also contributed to its development.
Speakers include:
Sandra O. Archibald
Founding Member, Restart Partners
Dean Emerita and Professor, Evans School of Public Policy & Governance, University of Washington
Lisa Goodman
Founding Member, Restart Partners
Register online https://www.business.wa.gov/site/alias__business/1560/sbrr.aspx
60 min. webinar has brief presentations, with time for Q&A, from WA state business liaisons on resources and impacts affecting businesses.
The COVID-19 pandemic has created a new path forward. This webinar provides an overview of some of the state responses, resources, and other impacts affecting small businesses. No cost registration.
The webinar includes brief presentations from several state agency small business liaisons with dedicated time for questions and answers.
We invite you to join us!
