Financial Assistance and Relief During COVID-19

March 26, 2020

Businesses searching for relief from the financial impact of the Coronavirus should consult the following resources:

The Small Business Administration (SBA) offers Economic Injury Disaster Loans to qualifying small businesses. Congress has approved up to $7 billion in low-interest loans to small businesses impacted by COVID-19. More information about loans available through SBA can be found here.
The Washington State Department of Revenue is offering relief to businesses. Businesses who are unable to make their tax payments may request an extension. Additionally, DOR may waive BLS delinquency fees for late renewals through April 17, 2020. DOR has stated that it is committed to helping “businesses stay in businesses” and has expressed a desire to work with businesses on a variety of issues to the extent possible within the law. More information about the options offered by WA DOR can be found here.
The Washington State Department of Commerce’s Export Assistance Team division can provide export assistance. Additional information can be found here.
The Washington Department of Commerce is coordinating applications for up to $5M of the governor’s Strategic Reserve Funds to be used for small grants to small businesses affected by COVID-19. Additional information can be found here.
The Washington Insurance Commissioner and Idaho Department of Insurance can provide information concerning coverage for business losses. The Washington Governor’s Office provides businesses with resources at its website which can be found here.
The Idaho Department of Commerce provides businesses with resources at its website which can be found here.
The Southwest Idaho Manufacturer’s Alliance (SWIMA) allows members to share best practices, sourcing needs and other resources at its website which can be found here.
Facebook has announced that it is offering $100M in grants and advertising to businesses affected by COVID-19. Few details are available currently, but additional information will be made available here.
Yelp is offering $25M in relief in the form of waived advertising fees, advertising, products, and services. Yelp has explained that the relief is focused on supporting independent local restaurants and nightlife businesses. More information about Yelp’s offer can be found here.