BUSINESS INFORMATION FOR ALL YOUR NEEDS

NEW INFORMATION

Small Business Provisions in Coronavirus Aid, Relief, and Economic Security (CARES) Act

Congress has reached a bipartisan compromise on a $2 trillion economic stimulus package to address the economic impact caused by the COVID-19 outbreak titled the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Division A of the bill, which provides more than $377 billion in support to small businesses, includes prominent measures from the Keeping American Workers Employed and Paid Act as well as the COVID-19 RELIEF for Small Businesses Act of 2020. CLICK HERE to read the description of the small business provisions included in the stimulus. For the full section by section summary, CLICK HERE.

The Small Business Owner’s Guide to the CARES Act

This guide provides information about the major programs and initiatives that will soon be available from the Small Business Administration (SBA) to address these needs, as well as some additional tax provisions that are outside the scope of SBA. CLICK HERE to access the guide.

Paycheck Protection Program

The Paycheck Protection Program is 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. CLICK HERE to access the Paycheck Protection Program application.

Small Business Administration & Small Business Development Center

Strategies for Busines Survival (PDF)

Strategies for Busines Survival (Powerpoint PDF)

Small Business Tips:

  • Keep yourself and staff healthy
  • Focus on reducing cash flow loss/cutting operating expenses
  • Consider temporarily reducing hours for employees/apply for shared work/partial unemployment
  • Reduce business operating hours
  • Contacting vendors and suppliers to negotiate adjusted terms
  • Work with your landlord to defer rent/lease payments
  • Reach out to a lender for a line of credit or working capital
  • Keep good records

Small Business Loan Information:

Guidance for Businesses and Employers to Plan and Respond to Coronavirus

SBA to provide disaster assistance loans for small businesses impacted by Coronavirus

10 Tips for protecting your Small Business from COVID-19

Disaster Planning and Recovery

Business Resiliency and COVID-19 Resources (PDF)

Planning and response to COVID-19 impacts in the workplace

Governor Jay Inslee’s Office

Proclamation by the Governor – Stay Home. Stay Healthy. (March 23. 2020)

Washington State creates website for all COVID-19 related information that includes:

  • Resources available to families, workers and businesses
  • Health recommendations
  • Statistics
  • Emergency actions and more

Inslee announces statewide shutdown of restaurants, bars and expanded social gathering limits (March 16, 2020)

 

Washington State Department of Commerce

SBA COVID-19 Resources

When trouble strikes: A small business crisis planner

 

Washington State Employment Security Department

For worker and businesses affected by COVID-19

SharedWork Program: A voluntary business sustainability program that provides flexibility to retain employees at reduced hours.

COVID-19 Scenarios and Benefits Available (PDF)

 

Washington State Department of Health

Workplace and Employer Resources and Recommendations

United States Department of Labor

United States Deparment of Labor recently released a question and answer (Q&A) for employers and employees in regards to the new laws enacted in response to the Coronavirus.