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
Come meet grant staff, ask questions, and learn from your fellow applicants. Workshops are informal and drop-in. This is a great opportunity to strengthen your application!
This workshop will cover our combined Recovery Fund for Individuals.
The workshop will take place on Zoom; once you register, you will receive an email with a link and passcode to join. Live captioning will be available. For additional access support such as language translation or ASL interpretation, please contact Jackie Mixon at jackie.mixon@4culture.org.
Register here
Come meet grant staff, ask questions, and learn from your fellow applicants. Workshops are informal and drop-in. This is a great opportunity to strengthen your application!
This workshop will cover our combined Recovery Fund for Individuals.
The workshop will take place on Zoom; once you register, you will receive an email with a link and passcode to join. Live captioning will be available. For additional access support such as language translation or ASL interpretation, please contact Jackie Mixon at jackie.mixon@4culture.org.
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.
