Dear neighbors,
I know many of you are self-employed, independent contractors, or small business owners who are struggling to make ends meet due to the COVID-19 response. Here are some resources that may help you through these tough times.
Paycheck Protection Program
The federal government has funded the Paycheck Protection Program with $349 billion intended to help organizations keep employees on payroll between now and the end of June 2020.
Applications can be filed starting April 3 and funds will be distributed on a first-come, first-served basis, so it’s important to get your application in early.
The program is for any 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 organization affected by the COVID-19 crisis. Some businesses with more than 500 employees may also be eligible.
Learn more about the program and how to apply at https://www.sba.gov/ppp.
State and Federal Resources for Small Businesses
Visit the following links for more information about resources and programs to provide relief to small business owners:
- Click here for a detailed list of available programs for Washington’s small businesses, updated on April 1.
- Federal Coronavirus (COVID-19) Small Business Guidance & Loan Resources website at http://www.sba.gov/coronavirus
- Washington State Department of Commerce’s COVID-19 Crisis Planning Tools & Resources website at http://startup.choosewashingtonstate.com/links/crisis/covid-19-resources/
Please know the challenges you face weigh heavily on the minds of your state legislators. In addition to legislative action we took to provide an initial investment of $200 million for the COVID-19 response, we support Gov. Jay Inslee in his executive responses and stand ready to provide additional help as events continue to evolve.
Please do not hesitate to contact my office if you have questions not addressed by these resources.
Sincerely,
Sen. Derek Stanford
