(re)STARTUP425’s Business Response Team can provide free technical advising to assist in accessing financial options (like grants and SBA loans), becoming loan-ready, and retaining employees. They’ve partnered with Business Impact NW, a community-development financial institution and nonprofit, to bring Eastside businesses one-on-one advising from local experts in small business resilience.
Comcast Rise: Comcast Rise is a multi-year commitment to provide marketing, creative, media and technology services to Black, Indigenous and People of Color (BIPOC)-owned small businesses. Comcast Rise is accepting applications from eligible small businesses that are BIPOC-owned. Selected businesses could receive one or more of the following business services through Effectv, the advertising sales division of Comcast, and Comcast Business, a leading provider of technology for businesses: Advertising and Marketing Consulting; Media; Creative Production; Technology Makeover; Monetary Grants (coming in 2021). Apply Here
Loans & Grants
New resource for information and technical assistance for small businesses: A new website created by the Washington State Small Business Recovery Working Group aims to simplify and supplement details provided by the U.S. Small Business Administration (SBA) and provide current information on available relief programs for Washington's small businesses and eligible non-profits, as well as the organizations that assist them. Funding for this resource was provided via a $250,000 grant from the state’s Department of Commerce.
The goal is to help as many Washington small businesses and non-profits as possible access the help they need. Information will be added and updated as new guidance is released and as new resources become available.
Visit the Events & Trainings page to learn about upcoming training opportunities, including an information session on Friday, Jan. 26 at 1 p.m. about SBA Round 2 COVID-19 relief funds and the Paycheck Protection Program.
2nd Draw Paycheck Protection Program (PPP): The Small Business Association is now accepting applications for a Second Draw of PPP Loans. Applicants must work with participating Community Financial Institutions (CFIs). Borrowers can be matched with qualified PPP lenders using SBA Lender Match. This new round of PPP forgiveable loans is both for businesses that received a PPP in 2020 as well as for those who have not taken one before. The window to apply for the Second Draw PPP Loans is January 13, 2021 - March 31, 2021.
For help understanding the process and whether you qualify, contact the Startup 425 Business Response Team.
Find detailed information on PPP Loans and Eligibility here.
Click to download the Paycheck Protection Program Second Draw Borrower Application Form
Click to download the Paycheck Protection Program First Draw Borrower Application Form
The Shuttered Venue Operators Grant program was included in the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act signed into law by President Trump on Dec. 27, 2020. Eligible organizations with a reduction in revenue due to the COVID-19 pandemic will soon have the opportunity to receive up to a $10 million grant under the program. In total, the Economic Aid Act allocates $15 billion for the Shuttered Venue Operators Grants. Learn more about this SBA grant opportunity here.
COVID-19 Economic Injury Disaster Loans provide economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue. Learn more about these SBA loans here.
Gov. Jay Inslee recently signed House Bill 1368, which appropriates $2.2 billion in federal funding that has been allocated to states in response to the ongoing COVID emergency. The legislation takes effect immediately.
The bill provides:
$714 million in assistance for K-12 schools.
$618 million for public health’s response to COVID, including testing, investigation and contact tracing; and funding for vaccination efforts.
$365 million for emergency eviction, rental and utility assistance.
$240 million for business assistance grants.
$50 million for child care.
$26 million for food banks and other food programs .
$91 million for income assistance, including $65 million for relief for the state’s immigrant population.
Read the full bill here. The business assistance grants will be administered by the state Department of Commerce. Commerce is working on the application portal and expects it to open late March. Information will be posted at commerce.wa.gov/bizgrants.
The Kirkland Small Business Relief Fund was created by Google, the City of Kirkland, the Greater Kirkland Chamber of Commerce, and Banner Bank’s Kirkland branch to provide immediate grants to qualifying small businesses and small nonprofits in Kirkland impacted by COVID-19. The second round of grants closed in August. For more information, including application details and information on contributing to the fund, please visit the Chamber’s website.
Seattle Foundation has established a COVID-19 Response Fund, which will initially assist nonprofit organizations that work with communities disproportionately impacted by COVID-19 and its consequences. Please note that this fund will not initially assist nonprofits that have lost revenue, though this may be considered in the future.
Facebook has established a Small Business Grants Program to assist businesses in addressing the impacts of COVID-19. These grants will include both cash grants and ad credits.
The Seattle Metro Chamber, which serves as the King County Associate Development organization, is working to ensure that $580,000 in federal funding reaches king County small businesses. This is part of the $10 million that Washington state received for small business support from the federal CARES Act. The application process is open through 5 p.m., Monday, September 28. For more information about the grants, including eligibility requirements, visit the King County Associate Development Organization website.
King County's Hazardous Waste Management Program offers a Voucher Incentive Program for eligible businesses to purchase personal protective equipment (PPE) and hazardous waste improvements like safe storage for cleaning products and other chemicals. 75 percent of expenses can be reimbursed, up to $599. Expert staff can recommend improvements that will help keep staff and customers safe.