Help for small businesses
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OLYMPIA–The Small Business Administration (SBA) has updated its website to include some new resources for small businesses affected by COVID-19 including:
•Paycheck Protection Program
•Economic Injury Disaster Loans and Loan Advance
•SBA Debt Relief
•SBA Express Bridge Loans
•Guidance for Businesses and Employers
•SBA Products and Resources
•Government Contracting
•Local Assistance
One of the new temporary programs is the Paycheck Protection Program. It’s a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The Paycheck Protection Program will be available through June 30, 2020. Another good collection of links to business relief information, is located at coronavirus.wa.gov website.
