COVID-19 Resources for Businesses and Workers

Beyond its direct health implications, the COVID-19 (coronavirus) pandemic is causing massive disruption to organizations large and small worldwide. We at the Economic Development Council for Island County (EDCIC) take seriously the economic hardships faced by Island County businesses. We’ve compiled the following list of resources to stay on top of the latest developments as it pertains both to well-being of your employees and the operations of your business. This list of resources is being continuously updated.

 

Paycheck Protection Program Opens today, April 3rd!

>> Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.  Check with your bank to see if they are participating in this program. <<
The CARES Act establishes a new $349 billion Paycheck Protection Program. The Program will provide much-needed relief to millions of small businesses so they can sustain their businesses and keep their workers employed. Businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day.  The loans will be forgiven as long as the funds are used to keep employees on the payroll and for certain other expenses. The new loan program will help small businesses with their payroll and other business operating expenses. It will provide critical capital to businesses without collateral requirements, personal guarantees, or SBA fees – all with a 100% guarantee from SBA. All loan payments will be deferred for six months. Most importantly, the SBA will forgive the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest. For more information visit SBA’s webpage.

 

SBA COVID-19 Disaster Loan Program Open for Applications!

Small businesses in Island County are now eligible to apply for low‑interest U.S. Small Business Administration (SBA) Economic Injury Disaster Loans. Applicants may apply online, receive additional disaster assistance information and download applications at https://www.sba.gov/funding-programs/disaster-assistance.

PLEASE COMPLETE EDCIC’s COVID-19 ECONOMIC SURVEY!

We are requesting Island County businesses to complete a survey in an effort to collect information.  The clearer the picture we can gather on the economic impact in Island County, the better we can communicate to the state government our level of need.  https://www.surveymonkey.com/r/M6RDSTW

UPDATES

04/01/20
SBA disaster loan applications are already being accepted. And starting April 3, 2020, small businesses and sole proprietorships can apply for loans under the SBA Paycheck Protection Loan (PPPL) program. Businesses interested in a PPPL have been advised by the U.S. Treasury Department to apply as quickly as they can because there is a funding cap.

03/30/20
Stay tuned for an announcement from the WA Department of Commerce of the Small Business Emergency Grant Program which will use $5 million from the governor’s Strategic Reserve Fund. This statewide grant program is target at small businesses impacted by the COVID-19 including those in Island County.  Grants will be $10,000 or less, to provide bridge assistance with operating expenses. The EDCIC will administer this program in Island County.

03/25/20
USDA Implements Immediate Measures to Help Rural Residents, Businesses and Communities Affected by COVID-19. Read full announcement: https://www.rd.usda.gov/sites/default/files/USDA_RD_SA_COVID19_ProgramImmediateActions.pdf

03/25/20
On Sunday March 23, Governor Inslee issued a Stay Home, Stay Healthy proclamation. The order takes effect immediately and will remain in place for a minimum of two weeks. This proclamation will:
• Require every Washingtonian to stay home unless they need to pursue an essential activity
• Ban all public and private gatherings for social, spiritual and recreational purposes
• Close all businesses except essential businesses
The order states that Washingtonians can still participate in outdoor activities like bike rides, hikes, and working in their yard, as long as they maintain proper social distancing or at least six feet from each other. Essential businesses will remain open including grocery stores and pharmacies. Many tourism-related businesses were also deemed essential including hotels, rental car companies and many transportation organizations, as well as restaurant take-out and curbside services.
By this evening, March 25, all non-essential businesses must close. Teleworking from home is still allowed.
Businesses can visit the Washington State Business Re-Entry Registration website to clarify or certify status, or to petition their non-essential status.

RESOURCES


ADDITIONAL GENERAL RESOURCES


EDUCATION AND ENTERTAINMENT

      Stuck indoors or without social contact for the next foreseeable days?   Enjoy exploring these:

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