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: April 6, 2021
Updates from SBA – Pacific Northwest Regional SBA Office
Read latest SBA bulletin for these updates: April 6, 2021 – EIDL limit increases to $500,000; April 8, 2021 – Shuttered Venue Operators Grant portal opens for applications; Late April 2021 – Community Navigator Pilot funding opportunity announcement will be issued; May 31, 2021 – New extended PPP application deadline.
Working Washington Small Business Grants – Round 4 Now Open Until April 9, 2021 – Washington State Department of Commerce
The Washington State Department of Commerce will award a total of $240 million to small for-profit businesses impacted by COVID-19. The maximum grant will be $25,000, which must be applied toward expenses incurred between March 1, 2020 through June 30, 2021 (HB 1368). See more information and apply at the WA State Commerce Department website.
SBA Round 2 COVID-19 Relief and PPP Information Webinars, April 8 – April 29 – Small Business Administration
Various dates, 1:00 PM – 2:00 PM PDT
Join SBA to get your questions about the new PPP loans answered. The focus will be on the new round of Paycheck Protection Program (PPP) loans. Learn where to apply for PPP funding and who is eligible to receive PPP funds. Recurring webinar, click the desired date to be directed to the webinar registration: April 8 | April 15 | April 22 | April 29
April 7: COVID-19 BUSINESS INFO SERIES Webinar, Wednesdays 11am – 12pm PDT – Tacoma-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 Wednesday 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.
The Port of Seattle continued its investment in an equitable recovery today announcing a new accelerator for women- and minority-owned small businesses looking to innovate and grow. The Port’s first-ever PortGen Accelerator begins accepting applications for this intensive two-month business development program today. Businesses accepted into this inaugural cohort will access mentorship and programming from the Seattle entrepreneurship community and increase their contracting opportunities from the Port.
Applications for the PortGen Accelerator are open through May 15. Interested applicants may select this link to learn more about the accelerator and apply for the 2021 opportunity.
In order to sell goods and services to the government, you’ll have to register your small business.
Before you can bid on government proposals, you need to get a Dun & Bradstreet (DUNS) number. A DUNS number is a unique nine-digit identification number for each physical location of your business.
When registering for your DUNS number, you’ll need to have the following on hand:
To apply for a DUNS number, visit DUNS Request Service.
You’ll also need to match your products and services to a North American Industry Classification System (NAICS) code. NAICS codes classify businesses based on the particular product or service they supply. A business will generally have a primary NAICS code, but it can also have multiple NAICS codes if it sells multiple products and services.
To find your NAICS code, view the NAICS code list at the U.S. Census Bureau.
To be eligible for government contracts reserved for small businesses, your business must meet size requirements set by the SBA. These size standards define the maximum size that a business — and its affiliates — can be to qualify as a small business for a particular contract.
The SBA assigns a size standard to each NAICS code. Most manufacturing companies with 500 employees or fewer, and most non-manufacturing businesses with average annual receipts under $7.5 million, will qualify as a small business.
However, there are exceptions by industry. You can view these in Title 13 Part 121.201 of the Code of Federal Regulations (CFR) or in the SBA’s table of small business size standards.
To determine if your business qualifies as “small” for government contracting purposes, use the SBA’s Size Standards Tool.
To participate in government contracting, you must register your business in the federal government’s System for Award Management (SAM). SAM is a database that government agencies search to find contractors.
Using SAM, you’ll able to certify that your business is eligible for contracts that are reserved for small businesses. You’ll also be able to represent if your business is eligible for contracts under an SBA contracting program because it is disadvantaged, women owned, veteran owned, or located in an underutilized area.
Your small business’ profile in SAM is like a résumé. Creating a profile that’s accurate and appealing is important to winning a government contract. Make sure to use accurate, descriptive terms about your business so that contracting officials will be able to find you in search results.
System for Award Management entity registration training WEBINAR. Providing step by step guidance on registering your entity, be it a business, individual, or organization, in the System for Award Management, also known as SAM.gov for Federal Assistance Awards Only.
Click here to watch the training provided by SBA.gov
The Shuttered Venue Operators (SVO) Grant program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, signed into law on December 27, 2020. The program includes $15 billion in grants to shuttered venues, to be administered by the SBA’s Office of Disaster Assistance.
Eligible applicants may qualify for SVO Grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
Eligible entities include:
Other requirements of note:
Grant amount will be either:
SBA is in the process of setting up the grant program and is not yet accepting applications. Those who have suffered the greatest economic loss will be the first applications processed under the following schedule:
Note: On January 20, 2021, SBA updated the proposed plan for issuing Shuttered Venue Operators Grants during the first and second priority periods. To clarify, priority awardees will not need to satisfy the small employer set-aside. During the first 59 days of opening the SVO Grants, SBA will reserve no less than $2 billion of program funding for grants to entities that have no more than 50 employees.
1st 14 days of grant awards
Entities that suffered a 90% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.
Next 14 days of grant awards
Entities that suffered a 70% or greater revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.
Beginning 28 days after First & Second Priority Awards are made
Entities that suffered a 25% or greater earned revenue loss between one quarter of 2019 and the corresponding quarter of 2020.
Available after all Priority Periods have passed
Recipients of First, Second, and Third Priority round awards who suffered a 70% or greater revenue loss for the most recent calendar quarter (as of 04-01-21 or later)
Funds may be used for specific expenses, which include:
Grantees may not use award funds to:
Grantees will be required to maintain documentation demonstrating their compliance with the eligibility and other requirements of the SVO Grant program. They must retain employment records for four years following their receipt of a grant and retain all other records for three years.
Application and additional guidelines will be posted when available.
WASHINGTON – The U.S. Small Business Administration announced extended deferment periods for all disaster loans, including the COVID-19 Economic Injury Disaster Loan (EIDL) program, until 2022.
Existing SBA disaster loans approved prior to 2020 in regular servicing status as of March 1, 2020, received an automatic deferment of principal and interest payments through December 31, 2020. This initial deferment period was subsequently extended through March 31, 2021. An additional 12-month deferment of principal and interest payments will be automatically granted to these borrowers. Borrowers will resume their regular payment schedule with the payment immediately preceding March 31, 2022, unless the borrower voluntarily continues to make payments while on deferment. It is important to note that the interest will continue to accrue on the outstanding balance of the loan throughout the duration of the deferment.
“Small Businesses, private nonprofits and agricultural enterprises, including those self-employed individuals, contractors and gig workers, continue to navigate a very difficult economic environment due to the continued impacts of the Coronavirus COVID-19 pandemic, as well as historic Severe Winter Storms in 2020,” SBA Administrator Tami Perrillo said.
“The COVID-19 EIDL program has assisted over 3.7 million of small businesses, including non-profit organizations, sole proprietors and independent contractors, from a wide array of industries and business sectors, through this challenging time,” continued Perrillo.
SBA continues to strive to make available all previously approved Coronavirus Pandemic stimulus funding and administer the new targeted programs related to provisions in the 2020 Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) as quickly as possible.
“The American people and the nation’s Small Business owners need our tireless effort and dedication to get this essential funding to those in great need, and SBA will not rest until we implement President Biden’s “American Rescue Plan” and its’ additional targeted programs and funds allocated for America’s small business and nonprofit communities,” said SBA Senior Advisor Michael Roth .
COVID-19 EIDL loans are offered at very affordable terms, with a 3.75% interest rate for small businesses and 2.75% interest rate for nonprofit organizations, a 30-year maturity. Interest continues to accrue during the deferment period and borrowers may make full or partial payments if they choose.
In mid-February 2021, SBA reached a milestone in the success of the COVID-19 EIDL program, by approving over $200 billion in emergency funding in low-interest loans, providing working capital funds to small businesses, non-profits and agricultural businesses to survive the severe impacts of this catastrophic and historic period within the entire United States of America and its territories. SBA continues to approve over $500 million each week for the COVID-19 EIDL program.
Questions on SBA COVID-19 EIDL and disaster loan payments can be answered by email at [email protected] or by calling SBA’s Customer Service Center at
1-800-659-2955 (TTY: 1-800-877-8339).