– 12.01.2020 –
Round 3: Working Washington Small Business Grants
Applications for up to $20,000 in emergency funding opens early this weekVisit Website
Gov. Jay Inslee announced an additional $70 million for business grants. $50 million of this is for Round 3 of the Working Washington Small Business grants. The remainder will go towards funding qualified businesses that applied in earlier rounds of our resiliency grant program.
NOTE: Businesses that applied for the resiliency grant program will not need to take any action.
When the application process opens early this week, a link to the application and additional information will be posted on the StartUp Washington website.
Source: StartUp Washington
Be prepared with PDF versions of the following documents:
- Completed and signed IRS Form W-9
- Copy of valid government-issued photo I.D.
- 2019 Tax Return or other confirmation of Business Gross Revenues for 2019.
- Evidence of your business location, such as lease, tax statement, utility bill, etc.
- NAICS code or clear description of your primary business activity. A NAICS code is helpful, but not necessary.
– 11.03.2020 –
PPP Loan Forgiveness
On October 9th, 2020, the Small Business Administration (SBA) announced a streamlined forgiveness process for PPP loans $50,000 and under.*
Learn how to apply
The simplified process introduces a new form, Form 3508S, which will be made available in virtual form to our Borrowers through our Forgiveness Portal as soon as the SBA is prepared to receive the new simplified application.
We are working quickly to update our system. As soon as we are able, 1st Security Bank will invite borrowers with loans at or below the $50,000 threshold to apply via an email notice. Please note, while the process is simplified, borrowers still must upload supporting documentation demonstrating that the PPP loan funds were used for eligible purposes, and retain all documentation for a minimum of 6 years. Form 3508S details and instructions can be found here (PDF).
*If PPP Borrowers together with any affiliated entity obtained PPP loans that together exceed the $50,000.00 maximum, they will not be eligible to apply using the streamlined application.
Have questions about PPP loan forgiveness?
Learn More Contact Us
For Individuals and Families
– Check back regularly for updates –
Financial Resources for Washington Residents Impacted by COVID-19
The Washington State Department of Financial Institutions has developed a list of financial resources for Washington consumers impacted by the Coronavirus. They will add to this list as more resources become available.
Loan and Mortgage Relief
Guide to coronavirus mortgage relief options
For many homeowners with mortgages, there’s help, but first assess your situation.
Important things to know first
If you can pay your mortgage, pay your mortgage.
Don’t call your mortgage servicer if you aren’t facing an immediate issue. Mortgage servicers are getting a lot of calls and need to first help those who won’t be able to pay their mortgage. Check their website first for possible options.
If you can’t pay your mortgage, or can only pay a portion, contact your mortgage servicer immediately.
It may take a while to get a loan servicer on the phone. Loan servicers are experiencing a high call volume and may also be impacted by the pandemic. Please be sure to read this blog carefully so you are prepared for this conversation.
A new federal law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, puts in place two protections for homeowners with federally backed mortgages:
- A foreclosure moratorium
- A right to forbearance for homeowners who are experiencing a financial hardship due to the COVID-19 emergency
If you don’t have a federally backed mortgage, you still may have relief options through your mortgage servicer or from your state. For more information from consumerfinance.gov
For Employees affected by COVID-19
Employment Security Department (ESD) - Washington State
Visit WA ESD Website
Help Collecting your Unemployment Benefits
- Get ready to apply
- Before applying, download the unemployment application checklist to prepare.
Download Checklist Check Eligibility