MBDA-Tacoma Business Center: COVID-19 Business Information & Resources

See the following news and information compiled by MBDA-Tacoma Business Center related to COVID-19 business resources. You can also follow us on our Facebook page for more updates.
Last update: May 27, 2020 

FedEx #SupportSmall Grants  – FedEx
FedEx is offering 200 grants of $5,000 each plus a $500 credit for packing and printing. The grant application process opens on May 25, 2020, and ends on June 12, 2020, at 11:59:59 p.m. ET. Apply promptly at FedEx #SupportSmall Grants.

General Business and Return to Work InquiriesWashington State Department of Commerce
Washington State Department of Commerce Economic Resiliency Team (ERT) Business Response Center. Business owners and operators may obtain answers to general business inquiries regarding financial assistance, return to work or other business questions related to recovery efforts. Ask your question here.

May 29th: COVID-19 BUSINESS INFO SERIES Webinar, 11am – 12pmTacoma Pierce County Chamber
Please join Tacoma Pierce County Chamber’s panel for an in-depth discussion of issues for our businesses that have arisen due to the COVID-19 outbreak. This series of calls will continue each Monday, Wednesday, & Friday as long as there is a need.
Missed a Previous Call? Need next call info? Visit the Chamber’s COVID-19 Resource Page for more information.Read More

Update: Available Resources, Grants, and Loans for Small Businesses

As you may have already heard, SBA EIDL applications that have been submitted to the SBA but not approved due to lack of funding are being reviewed, processed and submitted during this second release of appropriations.  They are NOT accepting any new applications online.  The only application available is the regular Disaster Loan that you can apply for — but not the EIDL loan or $10,000 grant advance.

Good News! There are still other free grants, loan programs, and resources available to assist your business:

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Sole Proprietors and LLCs Applying for Paycheck Protection Program

Question: “I had a small business operator get denied for a PPP stating that the application was incomplete because they did not submit payroll documents. This individual pay’s herself (I assume draws from Owner Equity) and casual laborers; in this context, the owner/operator does not have a payroll register available to submit. What are banks/SBA requiring in lieu of 941’s and payroll registers?
I initially thought a Profit and Loss and a Balance Sheet can indicate draws from Owner Equity. Do these reports offer the approver the proof that a Sole Proprietor or LLC owner pays themselves the equivalent of a salary?”

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April 23rd Webinar: How to Become a Seller on the Amazon Business Marketplace 10am – 1pm PDT

April 23rd: How to Become a Seller on the Amazon Business Marketplace 10am – 1pm PDT Amazon Business & Minority Business Development Agency
MBDA invites you to an overview of the Minority Business and Technology Initiative, a collaboration between Amazon Business and the U.S. Department of Commerce, Minority Business Development Agency (MBDA) that seeks to accelerate the inclusion of minority owned enterprises in e-commerce and to improve the use of digital technology for domestic and global sales. All small businesses are welcome to participate in this webinar.

Click here to view recorded webinar.

Visit the MBDA Minority Business & Technology Initiative webpage to learn more and see other webinar dates available.

Tacoma Challenge – Win $100K to locate your business in Tacoma

$100K to locate your business in Tacoma? If you’ve got a good idea, you might qualify!

The TACOMA CHALLENGE is intended to drive awareness of Tacoma as an outstanding place to grow your product, idea, or creation. Tacoma wants YOUR company and has the resources, network, space, and funding that you need to flourish. Visit Tacoma Challenge on their Facebook Live Stream or in person to meet the mentors and founders to learn how YOUR COMPANY can win it all.

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Businesses in 32 counties in Washington state can now apply for SBA’s Economic Injury Disaster Loan Program

The federal Small Business Administration (SBA) may be able to provide assistance through the Economic Injury Disaster Loans program to businesses that have suffered substantial economic injury in an eligible disaster area. Congress approved up to $7 billion in low-interest disaster loans specifically to assist small businesses impacted by COVID-19. These loans can help small businesses meet financial obligations and cover operating expenses.

Businesses in 32 counties in Washington state can now apply for SBA’s Economic Injury Disaster Loan Program – disaster relief loans up to $2 million with interest rates between 2.75% and 3.75% depending on the type of business. The funds can be used for paying debts, bills, accounts payable, payroll, among other reasons. 

See links below for information on how to apply:

Small Buisiness Guidance for SBA COVID-19 loans
SBA Disaster Loan Application Portal

See WA State Department of Commerce webpage for more details and links to state, regional and federal updates regarding Coronavirus. 

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