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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. 


MBDA-Tacoma Business Center Staff Working Remotely

By recommendation of City of Tacoma City Manager, starting Monday, March 16, staff of MBDA-Tacoma Business Center will be working remotely.

Our staff can still be reached through email and phone:
Linda Lee Womack, Program Director
[email protected], (253) 591-5239

Ivan Golovkin, Project Specialist
[email protected], (253) 591-5240

Capacity Building Mentorship Program contact:
Brenna Deegan, Administrative Assistant
[email protected], (253) 573-2435

The MBDA-Tacoma Business Center is operated by the City of Tacoma and will follow the health guidance and directives of the jurisdiction of the State of Washington and the City of Tacoma.

The Centers for Disease Control (CDC) has issued mitigation strategies for King, Pierce and Snohomish Counties and, as risks relating to COVID-19 in Washington state increase, employees are advised to observe precautionary measures recommended by both Tacoma-Pierce County Health Department and the CDC, which include practicing social distancing strategies.


3 Things to Know: SBA Support for Businesses Impacted by Coronavirus

1. SBA to Provide Disaster Assistance Loans for Small Businesses Impacted by Coronavirus (COVID-19)

2. Financing, Exporting and Advising Resources to Support Small Businesses Impacted by COVID-19

3. Continue to Get Updates from the SBA on COVID-19 Support for Small Businesses

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Rep. Kilmer Votes to Support COVID-19 Emergency Funding Supplemental

Kilmer-led Provision to Include Relief to Small Businesses
Washington, DC – On March 4, Rep. Kilmer voted to support H.R. 6074, the Coronavirus Preparedness and Response Supplemental Appropriations Act, which provides $8.3 billion in new funding to establish a robust response to this public health emergency. The legislation, which passed the House 415-2, includes $950 million for state and local health agencies to conduct vital public health activities, including surveillance, laboratory testing, infection control, contact tracing, and mitigation.

The legislation also includes a provision championed by Rep. Kilmer that allows $1 billion in loan subsidies to be made available to help small businesses, including shellfish growers, trade-dependent manufacturers, and others that have been impacted by financial losses as a result of the coronavirus outbreak. This funding could enable the Small Business Administration to provide an estimated $7 billion in loans to these entities and provides $20 million to the SBA to administer these loans.

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City of Tacoma Proclaims State of Emergency in Response to COVID-19

MBDA-Tacoma Business Center COVID-19 response!
The MBDA-Tacoma Business Center is operated by the City of Tacoma and will follow the health guidance and directives of the jurisdiction of the State of Washington and the City of Tacoma.

Tacoma City Manager Elizabeth Pauli and Tacoma Mayor Victoria Woodards proclaimed a state of emergency in response to COVID-19 at 1 p.m. on Thursday, March 12, 2020 in accordance with the Tacoma Municipal Code Chapter 1.10. The proclamation of emergency will be confirmed by the City Council at the earliest practicable time.

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Pierce Transit Bus Rapid Transit Project FAQ

Pierce Transit, along with its planning partners, are in the final stages of planning an improved service called Bus Rapid Transit (BRT) along a 14.4-mile corridor on Pacific Avenue/State Route 7 between downtown Tacoma and Spanaway.
Read on for BRT project details and Frequently Asked Questions.

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SBA – 10 FAQs of 2019

The US Small Business Administration Office of Advocacy provided a reflection of the top 10 most frequently asked questions of 2019. In a recent newsletter, they reviewed the current economic climate that makes today one of the best times to start a new business.

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