COVID-19 BUSINESS INFO QUICK LINKS

FINANCIAL HELP FOR BUSINESSES

There are several federal and state financial relief programs for businesses impacted by the COVID-19 pandemic. There are also unique programs available for those that are government contractors, sole proprietors, and for some businesses with unique situations. Please take a look below at all the programs available and click the program that best fits your needs to learn more or to apply.

For a quick overview of programs you are eligible for based on your business structure, click your business category.

Small Business Administration Economic Injury Disaster Loan

*AG BUSINESSES ONLY* Can provide up to $2 million of financial assistance. Repayment terms are determined by your ability to repay the loan.

ELIGIBILITY

  • Must be a small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.

APPLY: SBA.gov

Small Business Administration Economic Injury Disaster

$10,000 Emergency Advance Grant

*AG BUSINESSES ONLY* Up to a $10,000 advance upon a successful application. The advance does not need to be repaid.

ELIGIBILITY

  • Must be a small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.

APPLY: SBA.gov 

Paycheck Protection Program

A loan equal to 2.5 times your average monthly payroll up to $10 million. Part of loan can be forgiven if used for specific expenses.

ELIGIBILITY

  • Must be a small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.

APPLY: SBA.gov

Pandemic Unemployment Assistance

Expansion of unemployment insurance providing up to 39 weeks of benefits, which are available retroactively. The systems are being updated and self-employed workers and independent contractors should be able to start claiming in mid-April.

ELIGIBILITY

  • Self-employed workers, freelancers, independent contractors, and part-time workers impacted by the coronavirus pandemic in 2020.

MORE INFORMATION: WA State Employment Security Department

Employee Retention Tax Credit

A payroll tax credit of up to $5,000 per employee.

ELIGIBILITY

  • Business must have fully or partially suspend operations, or had a decrease in revenue of 50% over the same quarter in 2019.

MORE INFORMATION: U.S. Internal Revenue Service

Deferral of Payroll Taxes

Beginning in April 2020, businesses may elect to defer payment of the 6.2% employer social security tax through December 31, 2020. Deferred tax amounts will be paid in equal amounts over two years with payments due on December 31, 2021 and December 31, 2022.

MORE INFORMATION: U.S. Internal Revenue Service

Government Contractor Relief

Contractors can be reimbursed for up to 40 hours per week of any paid leave, including sick leave. Contractors can also work with Government Agencies to modify the terms and conditions of contracts.

MORE INFORMATION: Holland and Knight CARES Act Contractor Relief

Existing Small Business Administration Debt Relief

The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months – and for any new 7(a), 504, and microloans issued prior to September 27, 2020.

MORE INFORMATION: SBA.gov

Express Bridge Loans Of Up To $25,000

Only for small businesses that currently have a business relationship with an SBA Express Lender.

MORE INFORMATION: SBA.gov