Pierce County Update for Business: Business Accelerator Program Launch

In response to the pandemic and the adverse impacts on underserved communities in Pierce County, the County Council has allocated $5M of American Rescue Plan Act (ARPA) funding to launch the Pierce County Business Accelerator. The program will serve entrepreneurs and business owners throughout Pierce County with a focus on underserved communities to help foster innovation and create wealth-building opportunities.

The Pierce County Business Accelerator will provide direct access to business resources such as relevant training, coaching, technical assistance, and networking support to launch and grow micro businesses in Pierce County. Upon completion, participants will receive access to potential funding options, matching grant resources up to $10,000, a commercial rent stipend for one year up to $500/mo., and coaching/mentorship for one year.

First Round Application Deadline: September 10. Applications submitted after September 10 will be considered for a later cohort.
First cohort will kick off by the end of September.

Click here for more information and to apply

Questions? Contact [email protected]

Small Business Administration (SBA) COVID-19 Relief Options

SBA COVID-19 Economic Injury Disaster Loan
Did you know that an EIDL has a lower interest rate than most credit cards? An EIDL helps businesses meet financial obligations and operating expenses that could have been met had the disaster not occurred. The terms are for 30 years at a 3.75% fixed interest rate for businesses and 2.75% fixed interest rate for nonprofits. The deadline to apply is Dec. 31, 2021.

Increasing Your Existing EIDL
COVID-19 EIDLs can be modified by increasing the amount up to 24 months of economic injury or a maximum of $500,000, whichever is less. The SBA Disaster Customer Service Center is available to provide assistance seven days a week from 5 a.m. to 5 p.m. PDT by phone at 1-800-659-2955 (TTY/TDD: 1-800-877-8339) or email at [email protected].

SBA PPP Direct Forgiveness Portal
This portal is made available by the US Small Business Administration to streamline forgiveness processing for PPP Borrowers.

Small Business Flex Fund Loan Program

Small businesses and nonprofits can apply for a low-interest loan of up to $150,000 to finance expansion and growth as well as recover from the pandemic and subsequent economic slowdown through the Washington State Department of Commerce Small Business Flex Fund. Interested applicants pre-apply on the Flex Fund’s online portal and, if they qualify, will be matched with a lender.

SmallBizHelpWA.com New Online Hub for Small Business Recovery

On the SmallBizHelp.com website you’ll find answers to frequently asked questions regarding recovery resources, information on how to find individual technical assistance, how to find a lender, training opportunities and where to find more detailed program information.
.

Washington Ready & Reopened

Now that Washington state has reopened under the Washington Ready plan, all industry sectors previously covered by the Roadmap to Recovery or the Safe Start plan (with a few limited exceptions including spectator events) have returned to usual capacity and operations.

This does not include masking. See current guidance for employers and businesses/organizations based on vaccination. See also: L&I Requirements and Guidance for Preventing COVID-19.

SmartWA Dashboard Designed to Help Businesses Reopen Safely and Increase Customer Visits

To help small business owners identify the safety protocols most likely to be important to customers, the Washington State Department of Commerce has launched a new SmartWA business decision support system and COVID-19 dashboard. The decision support system features an interactive simulator that provide industry-specific predictions about which safety protocols are most likely to increase customer traffic in specific sectors.

Now Open Until September 1: Aviation Manufacturing Jobs Protection Program

The Aviation Manufacturing Jobs Protection Program can provide funding to eligible businesses to pay up to half of their compensation costs for certain categories of employees for up to six months. Click here for more information or to apply.

Recovery Assistance Funds for Small Manufacturers

Now Open: Recovery Assistance Funds for Small and Medium-Sized Manufacturers

Impact Washington is inviting Washington-based US small and medium-sized manufacturers (SME's) to apply for CARES Act Recovery Assistance funds. These funds provide services that directly support a manufacturer's ability to recover from the coronavirus.

Download funding one-sheet or click here to learn more.

Back to Work Pierce County Resource Guide

As Pierce County businesses continue to adapt during the COVID-19 pandemic, we've created a roundup of resources to help your business continue to operate under new guidelines or prepare to re-open.

View the resource guide here.