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.
Please Share Your Views!
Your perspective is very important to us. This is a new survey, updated on May 11th, requesting information that is relevant to now and moving forward. By filling out our short survey, you'll help us to better develop the programs you currently need to support your business.
Thank you for your time and assistance!
Resource Matrix
We have created a matrix of resources at the local, state, and federal levels that we are updating as we find new information. Within this spreadsheet, there are separate sheets for different types of resources. Within each sheet, you can find resources focused on different audiences (e.g. businesses, employees, etc; column D, “Who’s it for?”) or scroll down the columns on the right to find ones that provide specific services (e.g. loans, counseling, etc.).
Are we missing a resource or program that Island County businesses need to know about to prepare themselves for COVID19 and mitigate its economic fallout? If so, please contact us at Business@edcislandcounty.org.
SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
WASHINGTON—Today, the U.S. Small Business Administration, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020. In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:
- Are self-employed and have no employees; OR
- Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
- Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.
The EZ application requires fewer calculations and less documentation for eligible borrowers. Details regarding the applicability of these provisions are available in the instructions to the new EZ application form.
Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period. These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.
Click here to view the EZ Forgiveness Application.
Click here to view the Full Forgiveness Application.
EIDL Loan and Advance Portal Reopened!
The U.S. Small Business Administration has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants experiencing economic impacts due to COVID-19 today.
With the reopening of the EIDL assistance and EIDL Advance application portal to all new applicants, additional small businesses and non-profits will be able to receive these long-term, low interest loans and emergency advances – reducing the economic impacts for their businesses, employees and communities they support. To meet the unprecedented need, the SBA has made numerous improvements to the application and loan closing process, including deploying new technology and automated tools.”
SBA’s COVID-19 Economic Injury Disaster Loan (EIDL) and EIDL Advance
- The SBA is offering low interest federal disaster loans for working capital to small businesses and non-profit organizations that are suffering substantial economic injury as a result of COVID-19 in all U.S. states, Washington D.C., and territories.
- These loans may be used to pay debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact, and that are not already covered by a Paycheck Protection Program loan. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
- To keep payments affordable for small businesses, SBA offers loans with long repayment terms, up to a maximum of 30 years. Plus, the first payment is deferred for one year.
- In addition, small businesses and non-profits may request, as part of their loan application, an EIDL Advance of up to $10,000. The EIDL Advance is designed to provide emergency economic relief to businesses that are currently experiencing a temporary loss of revenue. This advance will not have to be repaid, and small businesses may receive an advance even if they are not approved for a loan.
- SBA’s EIDL and EIDL Advance are just one piece of the expanded focus of the federal government’s coordinated response.
- The SBA is also assisting small businesses and non-profits with access to the federal forgivable loan program, the Paycheck Protection Program, which is currently accepting applications until June 30, 2020.
As of May 24, 2020 – A total of 21 counties have now been approved to move to Phase 2
Adams, Asotin, Columbia, Cowlitz, Ferry, Garfield, Grant, Grays Harbor, Island, Jefferson, Lewis, Lincoln, Mason, Pacific, Pend Orielle, San Juan, Skamania, Spokane, Stevens, Wahkiakum and Whitman.
As more details come out we will continue to communicate through our website, social media, and email.
Links:
Phase 2 Limited In-Store Retail Operations COVID-19 Requirements:
Phase 2 Professional Services COVID-19 Requirements:
https://www.governor.wa.gov/sites/default/files/COVID19Phase2ProfessionalServicesGuidance.pdf
Reopening phases in Washington state (Seattle News Times):
SBA Releases PPP Loan Forgiveness Application and Detailed Instructions
The SBA, in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.
The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The SBA will soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.
The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers including:
- Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles.
- Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan.
- Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness.
- Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30.
- Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined.
The documents released May 15 will help small businesses seek forgiveness at the conclusion of the eight week covered period, which begins with the disbursement of their loans.
All other available forms and documents related to PPP Loans can be found here: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses.
New Eligibility for Economic Injury Disaster Loan and Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories were able to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance is designed to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. This loan advance will not have to be repaid. SBA will begin accepting new Economic Injury Disaster Loan (EIDL) and EIDL Advance applications on a limited basis only to provide relief to U.S. agricultural businesses.
The new eligibility is made possible as a result of the latest round of funds appropriated by Congress in response to the COVID-19 pandemic.
- Agricultural businesses includes those businesses engaged in the production of food and fiber, ranching, and raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).
- SBA is encouraging all eligible agricultural businesses with 500 or fewer employees wishing to apply to begin preparing their business financial information needed for their application.
At this time, only agricultural business applications will be accepted due to limitations in funding availability and the unprecedented submission of applications already received. Applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. For agricultural businesses that submitted an EIDL application through the streamlined application portal prior to the legislative change, SBA will process these applications without the need for re-applying.
Eligible agricultural businesses may apply for the Loan Advance here.
Paycheck Protection Program (PPP) Has Helped More Than 3.8 Million Small Businesses ... And Counting
Since the launch of the PPP April 3, the SBA has processed more than 3.8 million loans for more than half a trillion dollars of economic support.
In the second round of PPP funding, smaller lenders and smaller businesses are leading the way. Since the SBA resumed processing PPP loans April 27:
- 2.2 million loans have been approved, which surpasses round one
- $175 billion in loans have been approved
- The average loan size is $79,000 compared to $206,000 in round one
Locally in the Pacific Northwest, the following PPP loans have been approved in round two so far:
- Alaska: 3,920 loans worth $338.7 million
Combined with round one: 8,762 loans worth nearly $1.3 billion - Idaho: 12,411 loans worth $719.8 million
Combined: 26,038 loans worth nearly $2.6 billion - Oregon: 31,119 loans worth $3 billion
Combined: 49,851 loans worth $6.8 billion - Washington: 50,288 loans worth $5 billion
Combined: 80,709 loans worth $12 billion
Read more about PPP progress in this joint statement from SBA Administrator Jovita Carranza and Treasury Secretary Steven T. Mnuchin; or, in these reports.
Approximately $135 billion in PPP funding is still available for small businesses. Connect with a lender to learn more.
Unemployment benefits for self-employed workers, independent contractors, gig economy workers and individuals opened APRIL 19
The CARES Act expanded unemployment benefits for self-employed workers, independent contractors, gig economy workers and individuals unable to start a new job or contract due to COVID-19.
Here is what the Washington Employment Security Department says you need to do to be prepared to apply for benefits 
Sign up for COVID-19 Action Alerts 
Check your eligibility
Download the application checklist
Set up your account
Visit https://esd.wa.gov/ to prepare today
General questions? Call 833-572-8400
Claims questions? Call 800-318-6022
Daily webinars - https://esd.wa.gov/newsroom/introduction-to-unemployment-insurance-public-webinar
COVID-19 resource list for businesses and workers. This list will continue to be updated.
Businesses
Association of Washington Businesses: COVID-19 Employer Resources Webinar Series Link
Centers for Disease Control & Prevention: Interim guidance for businesses and employers Link
Chmelik Sitkin & Davis P.S.: Business interruption insurance for COVID-19 claims Link
Employment Security Department: For businesses affect by COVID-19 Link
Island County: Latest novel coronavirus outbreak information link
Small Business Administration: Export assistance Link
Small Business Administration: Disaster loan assistance Link
Small Business Administration: Lender Match helps you find lenders Link
Small Business Administration: Guide to the CARES Act Link
Small Business Development Center: Business survival strategies Link
Small Business Development Center: Business resiliency webinar Link
Spokane Regional Health District: Cleaning for health in a business Link
State Department of Financial Institutions: Financial resources for Washington residents impacted by COVID-19 Link
State Department of Commerce: Export assistance Link
State Department of Commerce: Small business crisis planner Link
State Department of Commerce: Insurance for businesses, events Link
State Department of Commerce: Working Washington Small Business Emergency Grants Link
State Employment Security Department: Layoff assistance Link
U.S. Chamber of Commerce Foundation: Small Business Recovery grant program Link
Washington Governor: Inslee statement on statewide shutdown of restaurants, bars and limits on size of gatherings expanded Link
Washington Governor: Essential Critical Infrastructure Workers Link
Workers
Employment Security Department: For workers affected by COVID-19 Link
Employment Security Department: Eligibility Checker Link
State Department of Health: What to do if you have confirmed or suspected coronavirus disease Link
State Labor & Industries: Novel Coronavirus Outbreak (COVID-19) Resources Link
State: Paid family and medical leave program Link
State Employment Security Department: Layoff assistance Link
Washington Connection offers a fast and easy way for families and individuals to apply for a variety of services such as Food, Cash, Child Care, Long-Term Care, and Medicare Savings Programs. Link
Retailers
Washington Retail Association: Retailer Resource Guide Link
National Resources
Federal and state government entities and nonprofits are working together to control the spread of the coronavirus and to support the businesses and individuals impacted by the virus and/or the protective measures being taken.
Resources for Businesses
- Federal Deposit Insurance Corporation (FDIC) is working with regulated financial institutions to help them meet the needs of their customers.
- Small Business Administration (SBA) is working with state Governors to provide low-interest loans to small businesses and nonprofits that have been severely impacted by the Coronavirus (COVID-19).
- Guidance for Businesses and Employers
- SBA Products and Resources
- Government Contracting
- Local Assistance
- The Economic Injury Disaster Loan Program is an SBA program that works directly with state Governors to provide targeted, low-interest rate working capital loans of up to $2-million to small businesses and nonprofits.
Federal COVID-19 Resources
Health and Safety
- Information on Coronavirus Disease 2019 (COVID-19) Prevention, Symptoms and FAQ
- Share Facts about COVID-19
- CDC Coronavirus Disease 2019 (COVID-19) Web page
- John Hopkins provides information on the virus, treatment and research.
- Visit the Mayo Clinic for information on symptoms and treatment.
- Administration for Community Living offers information for older adults, and people with disabilities.
- Centers for Disease Control and Prevention (CDC) is studying the virus worldwide and helping communities respond locally. Check the CDC’s Coronavirus Disease 2019 (COVID-19) page for news and guidance.
- Corporation for National and Community Service guidance for volunteers and programs.
- Defense Commissary Agency is ensuring the quality and safety of food available at commissaries world-wide.
- The Department of Energy is researching COVID-19 at the National Labs.
- The Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response (ASPR) is developing new medical treatments.
- The Department of Homeland Security is facilitating a whole-of-government response in confronting COVID-19
- The Department of Labor has information for employers and workers on preparing workplaces and responding to COVID-19 in the workplace.
- The Environmental Protection Agency has information about disinfectants that can kill COVID-19 and facts about water safety.
- The Food and Drug Administration is working with the medical industry to develop vaccines, drugs, and diagnostic tests. For healthcare professionals, they offer FAQs about diagnostic testing.
- The Military Health System offers health advice, and updates on travel restrictions for members of the military.
- The Navy and Marine Corps Public Health Center published guidance for healthcare providers.
- U.S. Department of Agriculture answers questions about food safety and pet safety.
- U.S. Fire Administration published infection control guidance for first responders.
Travel and Transportation
- Federal Aviation Administration (FAA) offers guidance for air travelers.
- Federal Transit Administration (FTA) offers guidance to transit agencies.
- Traveler Responsibilities
Money and Taxes
- Internal Revenue Service (IRS) advice for deducting COVID-19 costs from your taxes.
- Trump Administration to delay tax payments for most individuals.
Housing
- The Department of Housing and Urban Development (HUD) issued guidance for public housing authorities, landlords, shelters, non-profits, grantees, and stakeholders.
International Cooperation
- Department of State is working with international governments to combat COVID-19 and has also issued travel advisories.
- U.S. Agency for International Development (USAID) is providing funding to international organizations to combat COVID-19.
Workers
- OSHA COVID-19 Resources
- Some states are extending unemployment benefits to those quarantined or laid off due to COVID-19.