Get Help for Your Business
We've all been impacted by Coronavirus/COVID-19. Business Impact NW is here for you.
Our mission is to grow businesses that create jobs in underserved communities with information, advice and lending to those who cannot get business loans at banks. If you have a small business that has been impacted by the COVID-19 pandemic, we can help.
All of our usual coaching, classes, and lending work has been moved online. We are open for business and ready with free to low-cost services and lending products.
We have added services specifically in response to the impacts of Coronavirus/COVID-19:
- Business Coaching Sessions for one-on-one help with COVID-19 resilience and recovery
- Webinars with information on all the resources available and what you need to access them
- Live Online Question and Answer Sessions about COVID-19 resources
- Bridge Loans, payment abatement and interest-only options for current lending clients
- Paycheck Protection Program Loans, which are forgivable and open to all small businesses who qualify. The second round of the Paycheck Protection Program opened on January 1th, 2021. For updates and to apply for the second round of PPP loans click here.
- COVID-19 Information Library for Small Businesses
To access these resources, please choose from the three paths below. If you would like to support our work to help small businesses in this time of great need, please visit our Support page.
Business Impact NW has been serving small businesses since 1997 and we will be here to serve small businesses through the current crisis and long after. Please join us. We are in this together.
- As of May 5, 2021, PPP has exhausted most of its appropriations and the SBA is no longer accepting applications from most banks and credit unions. If you have already added your name to our PPP waitlist, rest assured that it is not too late and we will get you your PPP loan. Our commitment is to serving everyone who has already submitted their name to us, so with the exception of TA referrals or exceptional referrals from some resource partners, we will not be accepting any more PPP loan requests for the time being. We will be working very hard to clear the waitlist as quickly as we can; if we have the capacity to take on additional clients before PPP ends on 5/31, we will do so – and we will let you know if/when that happens.
- Unsure what federal relief funding is the best fit for your business? Explore the SBA's Cross-program Eligibility Map to find out how which relief funding is right for you.
- PPP Extension Act of 2021, H.R. 1799, extends the filing deadline for PPP applications by 60 days and provides an additional 30 days for the U.S. Small Business Administration (SBA) to finish processing applications received by May 31. Learn more about how this may impact your eligibility for PPP funding here.
- President Biden signed the signed the American Rescue Plan Act into law on March 11th. The Act includes additional funding and expanding eligibility requirements for the Paycheck Protection Program, Shuttered Venue Operators Grant Program, and Economic Injury Disaster Loan Advance (EIDL). As well as a new Restaurant Revitalization Fund for restaurants impacted by the COVID-19 pandemic. Learn more here.
- The Restaurant Revitalization Fund (RRF) will offer $28.6 billion in grants to hard-hit restaurants and bars, with restaurants able to apply for grants based on lost revenue. Additionally, $5 billion of that total will be set aside expressly for businesses with 2019 gross receipts of less than $500,000. Most American restaurants and bars that lost revenue in 2020 versus 2019 will be eligible to apply for RRF grants. Applications opened May 3rd. Learn more to see if your restaurant or bar is eligible to apply for funding here.
- The Shuttered Venue Operators Grant (SVOG) program was established through the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act and amended by the American Rescue Plan Act to provide over $16 billion in economic relief to target industries. The Shuttered Venue Operators Grant (SVOG) application portal will open April 26th. Interested applicants should register for an account and apply through the portal here.
- The WSDA in partnership with the Washington State Department of Commerce are providing Recovery and Relief Grants for small food and agricultural businesses. The application period will be open April 9 - April 26, 2021. Learn more to see if you qualify and begin your application here.
- President Biden announced reforms to the current Paycheck Protection Program to benefit small businesses with no employees, located in low income neighborhoods, and/or sole proprietors, independent contractors, self-employed individuals, those with a felony record, delinquent on their student loans, and/or non-citizen US residents. Starting on Wednesday, February 24, 2021, there will be a 14-day period during which only businesses with fewer than 20 employees can apply for relief through the PPP. To apply with Business Impact NW, please register for our waiting list here. We also encourage you to schedule a one-on-one coaching session with your Business Impact NW coach to assist you as needed.
- Learn about the variety of COVID-19 relief funding opportunities for small businesses on the SBA COVID-19 Small Business Guidance and Loan Resources page.
- Find funding opportunities for your small business or farm through the SBA Funding Options Portal here.
- Starting the week of April 6, 2021, the SBA is raising the loan limit for COVID-19 Economic Injury Disaster Loan (EIDL) program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000. Learn more about the EIDL program and this recent adjustment here.
- WA State is now in Phase 3 of the Healthy Washington - Roadmap to Recovery, to learn more about the associated regulations and guidelines that may impact your business visit the WA State Coronavirus Response page here.
- Join ADP for a special on-demand webinar on COVID-19 Legislative Updates – New COVID-19 Legislation: Latest Developments on the Paycheck Protection Program (PPP), Employee Retention Credits, and More. Register here!
- Federal Pandemic Unemployment Compensation (FPUC): Effective January 15th, those that are receiving unemployment will be receiving an additional $300 to their weekly benefits. They need to contact ESD if they are not receiving these funds. More info can be found here.
- The Division of Occupational Safety and Health (DOSH) is conducting business visits and inspections at random to ensure compliance with the new regulations. There is a $10,000 penalty if you are in violation of new regulations. Along with carrying out inspections proactively or as a result of complaints, L&I offers free consultations to help employers find and fix workplace safety and health issues. Employers who want assistance can request an L&I safety consultation online. It’s free and confidential.
- Working Washington Grants are currently being processed, for those that have applied you should have heard a response by 12/31. If you have applied and not received a response about the status of your application you need to reach out to unemployment. Click here for more information about the Working Washington Grants.
- The Small Business Liaison Team is offering Small Business COVID-19 Requirements and Resources Webinar on January 28th. Click here to register. Equipo De Enlace De Pequeñas Empresas (SBLT) ofrecerá el seminario web sobre requisitos y recursos de COVID-19 para pequeñas empresas el 28 de enero. Pulse aquí para registrarse.
- Those that are a part of the Pandemic Unemployment Assistance Program are getting a one-time Pandemic Relief Payment of $550. Click here for more details.
- The SharedWork Program provides flexibility to retain employees at reduced hours. Washington’s SharedWork program helps businesses and employers avoid layoffs by paying employees partial unemployment benefits when their work hours are reduced. Consider if the SharedWork Program is right for you and your business. More information here.
- Learn more about Washington states regional multi-stage recovery roadmap which will go into effect on January 11th, 2021 here.