These are the best resources I have found on the 2020 CARES Act economic small business grants and payroll protection program. Click the buttons below for more info.
UPDATE as of 4/2/20: The Payroll Protection Program details are now available. I linked to a really good extensive resource about the program. This program covers almost all employers, including self-employed people with no other employees. You have to apply for the loan, which can be completely forgiven if used for payroll. Locally, I am using Umpqua Bank for this. Their portal is at: https://pages.umpquabank.com/cares-act-paycheck-protection-program
Additionally, the Kittitas County Chamber of Commerce announced they will manage our local state small grant program. More info on that application process is being released on April 6.
UPDATE as of 3/30/20:
The federal government passed a comprehensive bill to provide small business relief during COVID-19 closures and impacted time. I linked to a really good fact/info sheet from Senator Durbin below. I also linked to a webinar for small businesses. Finally, I linked directly to the (very easy) SBA application. You may qualify for FORGIVEN funds (funds you don’t need to pay back) for payroll and other expenses. It is definitely worth looking into, but do so quickly because the funds are capped based on first-come applicants, as far as I can tell.
I received the following from the Washington State Department of Commerce regarding extended availability of Economic Injury Disaster Loans from the federal Small Business Administration:
The Washington State Department of Commerce want businesses in our state to know that the U.S. Small Business Administration (SBA) has amended its original disaster declaration to apply to all Washington small businesses, regardless of county. These low-interest loans for working capital are now available to any small businesses suffering economic fallout from the COVID-19 outbreak. ...Eligibility for Economic Injury Disaster Loans is based on the financial impact of the COVID-19. The interest rate is 3.75% for small businesses. The interest rate for private non-profit organizations is 2.75%. ...
The SBA lists the following additional information about these loans on their website:
Substantial economic injury means the business is unable to meet its obligations and to pay its ordinary and necessary operating expenses. EIDLs provide the necessary working capital to help small businesses survive until normal operations resume after a disaster.
Tony Swartz is an experienced lawyer in Washington State. He has handled, start to finish, over 10,000 criminal cases. He has also dealt with various types of civil cases, including administrative law hearings, Superior Court cases, District Court cases, and more. He also has advised clients in transactional matters spanning topics such as business law, nonprofit law, and property law.