The Department of Health has reported that the virus has spiked in rural areas of WA. The report shows a significant increase in viral activity in Eastern Washington with concentrated spikes in Yakima, Spokane, Benton and Franklin counties. At this time, Clallam and Jefferson county have not experienced spikes. Due to these recent increases of…
PPP Loan Forgiveness Program
Paycheck Protection Program Flexibility Act Passes New modifications to the Paycheck Protection Program make it easier for businesses to have their loans forgiven. More time to use funds Businesses now have a longer period to spend the funds: up to 24 weeks from origination or through December 31, 2020. More non-payroll expenses allowed The forgiveness…
Start at the Beginning
This is the 4th in a series of posts sharing CIE’s 10 Principles for Redefining Entrepreneurship. Read the previous entry, Removing Barriers to Entrepreneurship. Challenge: With so many different types of people at so many different stages on the journey and with so many different types of businesses, how do you keep everyone moving forward…
SBA Gives PPP Borrowers Forgiveness Flexibility
The Small Business Administration on Friday announced new guidelines giving Paycheck Protection Program borrowers additional flexibility on the timing of forgivable payroll and utility payments. First, borrowers can choose to start their 8-week qualifying period on the date of their first payroll period after loan origination. Second, payroll and utility expenses incurred but not paid…
Get ready to apply for Pandemic Unemployment Assistance
Under the Pandemic Unemployment Assistance program, sole-proprietors or self-employed workers impacted by COVID-19 may be eligible for the new expanded unemployment assistance benefits enabled by the Federal CARES Act. The steps below will help you prepare to apply for these benefits. 1. Find out what you’re eligible for. Visit esd.wa.gov/unemployment and download the eligibility checker. …
Update from Employment Services
[We are sharing this message from Suzi Levine, Employment Security Commissioner. For the “just the facts” version, click here.] <A message to Washington State businesses from the Employment Security Department> Dear Employers, During these unprecedented times, we know that you are doing everything you possibly can to support your employees. That’s why we are reaching…
Removing Barriers to Entrepreneurship
This is the 3rd in a series of posts sharing CIE’s 10 Principles for Redefining Entrepreneurship. Read the previous entry, Respect: Yes. Gatekeepers: No. Challenge: How can we remove all barriers so that the ONLY barrier is a person’s individual choice or lack of motivation or lack of initiative? What barriers can we reduce or…
Field Report: Helping Businesses Survive Covid-19
I’m not gonna lie, I’m pretty beat tonight. All week I’ve been either helping small businesses through the process of understanding, selecting and applying for different kinds of relief or trying to keep abreast of every new development in a rapidly shifting environment. In the last week we’ve had three different online forms for the…
How to Avoid COVID-19 Scams
How to avoid COVID-19 scams! From our colleague Cindy Brooks with the Washington Small Business Development Center: It seems everyone is scrambling to apply for relief. Please, take a minute to think about what you are being asked for and use good judgment before sending your private information. Scammers are using the SBA name to…
Is COVID-19 killing your cash flow? 6 things you can do right now.
COVID-19 and “social distancing” are rocking the business community, especially retail, restaurants and bars. If your business is empty or closed, you need to do everything possible to reduce overhead and conserve cash. Here are six practical and common actions you can take TODAY to manage your cash flow: Defer Your Lease Deferring your rent…
On the Phone: What we’re learning from COVID-19 teleconferences
CIE and our local economic development partners are participating in a range of teleconferences regarding responses to COVID-19 economic impacts. I will provide near-real time updates from these calls to keep everyone informed, with the most recent call at the top: Senator Patty Murray’s Office and SBA Tuesday March 17, 2020 On the call: Key…
SBA Economic Injury Disaster Loan (EIDL) for COVID-19
The federal Small Business Administration (SBA) Economic Injury Disaster Loans program is expanding to cover impacts from COVID-19, per legislation passed last week. Details are still being worked out, but here’s what we know so far: Update March 16 Three meetings set for businesses to learn about the new SBA EIDL loans Learn about the…
