Covid-19 Financial Support
Examine Federal, State, local and private sector resources that may benefit businesses financially.
City of Tacoma Media and Communications Announcements
Visit this site to stay informed of what the city is doing to ensure continuity of services, learn of any changes or delays to services, and to read updates from the Mayor’s office.
Kiva Microloans in Tacoma
In an effort to help underserved entrepreneurs and small business owners gain access to much-needed capital, Spaceworks joins forces with Kiva and the City of Tacoma to offer 0% interest microloans to Tacoma small business owners. These crowdfunded loans fill a critical lending gap for businesses that are too young, too small, or too innovative to receive loans from traditional lenders. Loans range from $1,000 to $15,000 with terms of 1-5 years to pay them back. The process requires no credit score, collateral pledges, or U.S. citizenship documentation.
Learn more about Kiva Microloans in Tacoma
Tacoma Partners with Pierce County to Expand Rental Assistance Program-Applications (opened March 8, 2021)
There are documents and information you can start collecting now to prepare for submission. Additional information may need to be collected by the provider upon intake to determine eligibility, but before you start the application you should have:
· Household information, including birthdays, for all household members
· Income verification for all household members for each income source including 2020 tax return for entire household OR household W-2’s, Unemployment statements, Alimony, child support, disability, retirement or VA benefits, Current or past pay stubs
· COVID impact documentation including Proof of unemployment, Loss of wages, Loss of job, Unexpected increase in costs of childcare, etc.
· Landlord name, email and phone number
· Copy of lease or rental agreement
· Statement from landlord with past due balance
· If you’re requesting utility assistance, provide copies of past due utility bills
Utilities paid directly to your landlord will need to be included in the rent past due amount and a payment will be made to the landlord directly.
Apply Now for the Rental Assistance Program
In keeping with the City’s Welcoming Cities Policy, we will not be tracking or providing information to Immigration and Customs Enforcement about immigration or citizenship status.
Contact Information for the Rental Assistance Program
Visit piercecountywa.gov/housinghelp for more information about the program, eligibility and how to apply.
Foreclosure Prevention and Mortgage Assistance Program.
In partnership with Pierce County and Habitat for Humanity, the City’s new program provides foreclosure prevention counseling and up to four months of mortgage assistance – with a $6,000 cap – paid directly to the loan servicer, bank, or mortgage company of households who live in the city limits of Tacoma, have experienced loss of employment or reduction in wages due to COVID-19, and have an income at or below 80 percent Area Median Income for Pierce County.
Applications for the City’s Foreclosure Prevention Counseling and Mortgage Assistance Program can be submitted online. They will be accepted on a rolling basis with applicants being reviewed on a first come, first served basis until all funds have been awarded.
Requests for general information, information in alternate formats, or for technical assistance with the online application, can be directed to Habitat for Humanity Director of Homeowner Services Deena Giesen at (253) 627-5626 ext. 106, Monday through Friday, from 9 AM to 4 PM or dgiesen@tpc-habitat.org.
COVID-19 Tax Relief for Tacoma Businesses
To Access the Minority Business Development Agency (MBDA) Tacoma Business Center PPE Grants and One-On One Technical Assistance to Support Your Business with the COVID-19 Business Recovery Efforts.
To request PPE and or technical assistance for your business continuity and or business assessment; please apply here https://mbda-tacoma.com/mbda-tacoma-launches-cares-act-program/ or contact
Ivan Golovkin
MBDA-Tacoma Business Center
igolovkin@cityoftacoma.org.
T: (253) 591-5240
Pierce County Department of Emergency Management
- Guidance on Federal Disaster Loans for Small Businesses and Private Nonprofits
Governor Jay Inslee’s Office
Current state requirements for employers and individuals are posted on the Governor’s website
Rental Housing Association of Washington
COVID-19 Resources and Information for Housing Providers and Renters.
Washington State Department of Commerce
Washington State Department of Commerce Economic Resiliency Team (ERT) Business Response Center
The team is currently able to answer questions as quickly as they are received. If you’re a business owner or operator with a question, Ask Your Question Here.
Department of Commerce Small Business Flex Fund
Borrow up to $150,000 at 3-4.5% for 60 – 72 months if you are a Washington headquartered small business.
Eligible businesses will have fewer than 50 employees, annual revenues of less than $3 million and prove a direct negative financial impact from Covid-19. Businesses must have their headquarters or main office in Washington State. Collateral is not required however there are other security requirements. Payday loan stores, fortune tellers, adult bookstores, strip clubs and track wagering facilities, regardless of headquarters location, are not eligible. You can apply even if you received other Covid-19 assistance.
Eligible uses include: payroll; utilities and rent; marketing and advertising; building improvements or repairs and; other business expenses.
To access information on this non-forgiveable loan fund, please visit: https://smallbusinessflexfund.org/
Startup Washington Small Business Resiliency Assistance
Technical assistance for small business owners from culturally and historically disadvantaged communities.
Technical assistance can include:
- Finding and help applying for assistance to help your business right now, whether you are open or closed
- Translation assistance
- Navigating local, state and federal resources
- Business coaching
Click here to learn more and to connect with a partnering organization.
Impact Washington
Impact Washington is providing no-cost guidance to manufacturers to
- review existing procedures
- conduct an assessment, and
- advise on how to implement controls to protect workers.
Manufacturers may request assistance by calling (425) 438-1146 or e-mailing info@impactwashington.org. The information provided in the files below may be useful to other businesses in addition to manufacturers.
COVID-19 Emergency Back to Work Prevention Measures
Impact Washington Preventive Manufacturing Back to Work Measures
Aerospace Manufacturers Jobs Protection Program opens 3rd and Final Round for funding
November 8, 2021
https://www.transportation.gov/AMJP/apply
Contact the Economic Development Board of Tacoma-Pierce County for more information or assistance. Maddie Merton, 253-317-1903
PPP Loan Forgiveness
On July 28, 2021, the SBA launched a streamlined application portal to allow borrowers with Paycheck Protection Program loans of $150,000 or less through participating lenders to apply for forgiveness directly through the SBA.
EIDL Loans program updates
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- Increasing the COVID EIDL Cap. The SBA will lift the COVID EIDL cap from $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.
- Implementation of a Deferred Payment Period. The SBA will ensure small business owners will not have to begin COVID EIDL repayment until two years after loan origination so that they can get through the pandemic without having to worry about making ends meet.
- Establishment of a 30-Day Exclusivity Window. To ensure main street businesses have additional time to access these funds, the SBA will implement a 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.
- Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.
- Simplification of affiliation requirements. To ease the COVID EIDL application process for small businesses, the SBA has established more simplified affiliation requirements to model those of the Restaurant Revitalization Fund.
To learn about eligibility and application requirements and how to apply, visit sba.gov/eidl. The last day that applications may be received is December 31, 2021. All eligible applicants should file their applications as soon as possible.
Thanks to vaccines, small businesses across America have opened back up. Keep the momentum going by getting vaccinated. Find a vaccine provider near you. Learn how businesses can get tax credits for allowing employees to get vaccinated.
Do you own a small business in the construction or service industry? There’s a good chance you’ll need a surety bond for public contracts. SBA guarantees bid, performance and payment surety bonds issued by certain surety companies. Watch this short video to learn more about the SBA Surety Bond Guarantee Program.Thinking about government contracting opportunities for your small business? Register for the ChallengeHER webinar on September 23, 2021 for information and resources to help you get started.
Helpful Links
- Click here to view a summary of the new federal stimulus package
- From the SBA: Coronavirus Recovery Information in Other Languages (sba.gov)
- SBA Lender Match helps you find lenders – Small Business
- WEDA-Small-Business-Resources-Mobilization-Campaign-Technical-Assistance-Deck-1-19-21.pdf
- U.S. Small Business Administration announced that the deadline to apply for the Economic Injury Disaster Loan (EIDL) program for the COVID-19 Pandemic disaster declaration is extended to Dec. 31, 2021.
- Employee Retention Tax Credit
- SBA Express Bridge Loan Pilot Program
- National Council of Nonprofits
- Visit this site for guidance on the CARES Act specific to charitable nonprofit organizations. Resources include a CARES Act Loan Options matrix and webinar titled: Federal Coronavirus Relief Bills: What Do They Mean for Nonprofits?
- Export/Import Bank of the United States
- EXIM is offering the relief measures outlined on their fact sheet
- Northwest Trade Adjustment Assistance Center
United States Government
Comprehensive Official verified and updated Information of all aspects of the Federal Covid-19 Response.
Government Response to Coronavirus, COVID-19. Learn about international travel restrictions, how you can prepare for coronavirus, and what the U.S. government is doing in response to the virus.
Comcast RISE program in Washington.
In addition to continuing to offer media, marketing, and technology upgrades, Comcast RISE will provide one million dollars in grants to small businesses owned by people of color in King and Pierce counties (where the highest concentration of small businesses owned by people of color in Washington are located). One hundred businesses will each receive $10,000. The application window is October 1-14 and eligible small business will be able to apply online at www.comcastrise.com. Winners will be notified on November 23, 2021.
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Tacoma Urban League
- Directory of Youth Resources & Programs
- Transportation Support for Food & Essential Workers
- Small Business Owners & Entrepreneurs Emergency Funding Application Help