Copy
View this email in your browser
Resources for Microenterprise Development Organizations (MDOs) in Washington State

Every day entrepreneurs with disabilities bring us products and services that are vital to our lives and our communities.  When we support these business owners with appropriate business tools and resources, they grow stronger and strengthen our communities. This webinar will present information and resources to help organizations and staff provide relevant business training, technical assistance and financing to business owners with disabilities. 

Join WSMA on Thursday, October 21 at 2:00pm for this engaging webinar to become an organization that helps business owners with disabilities. 

Our featured speakers: 
~ ChrisTiana ObeySumner
- Epiphanies of Equity Principal and Owner 
~ Emerson Sekins – NW Access Fund Executive Director 
~ James O’Brien - Washington State Division of Vocational Rehabilitation Vocational Rehabilitation Supervisor

CLICK TO REGISTER

New Enhancement to SBA COVID Economic Injury Disaster Loan (EIDL) Program

 

This week, the Administrator of the U.S. Small Business Administration announced major enhancements to the COVID EIDL program to better support small businesses impacted by the pandemic. Key changes include the following:
  • 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.
More than $150 billion in COVID EIDL funding is still available through the end of the year. Plus, eligible businesses in low-income areas can apply for up to $15,000 in grant funding through the COVID EIDL Targeted Advance and Supplemental Advance programs. Interested businesses can apply for all three programs at once through one streamlined application. Visit www.sba.gov/eidl for more information about all COVID EIDL programs.
Resources for Washington State Microenterprises

The Tax Structure Work Group wants to hear from you to understand your priorities when it comes to taxes. The Tax Structure Work Group invites individual taxpayers and business owners to share their opinions about the state tax structure during a virtual Tax Town Hall for your region.

The virtual Tax Town Hall agenda includes:

  • Purpose and goals of the Tax Structure Work Group
  • Background information on the current state tax structure
  • Interactive breakout sessions where you explore scenarios for changes to the state tax structure and share your feedback                    

CLICK to learn more and find your local Tax Town Hall


Working Washington Grants: Border Business Relief Program (WWBBR)

Thursday, October 14 from 1:00pm to 2:00pm

This webinar will provide information and instrutions regarding upcoming Washington Department of Commerce grants specifically targeted for small businesses that continue to be adversely impacted by the extended US-Canadian border closures as a result of the Covid-19 pandemic. Only Nonprofit or for-profit businesses located in Whatcom, Skagit, Island, San Juan, Clallam, Jefferson, Okanogan, Stevens, Ferry and Pend Oreille counties will qualify.

These targeted grants are aimed at providing support to customer-facing businesses that generate significant revenue from Canadian visitors or businesses that require access to the US-Canadian border crossings. These grants are intend to help mitigate the added hardship experienced by businesses due to the continued U.S.-Canadian border restrictions.

Grants are up to $50,000 and take into account whether the business has received a previous Working Washington grant. The portal is now OPEN! Information on eligibility and detailed FAQs can be found at www.commercegrants.com.

CLICK TO REGISTER for the October 14 webinar!

Watch Recent WSMA Sponsored Workshops & Webinars
Twitter
Instagram
YouTube
Facebook
Website

Strengthening Washington’s Smallest Businesses

At the Washington State Microenterprise Association, we support Microenterprise Development Organizations (MDOs), which are regional leaders that assist Washington businesses with five or fewer employees. MDOs help entrepreneurs earn more, innovate, grow, and contribute to the Washington State’s economy through services such as training, technical assistance, microloans, and advocacy.
© 2021, Washington State Microenterprise Association. All Rights Reserved.

Want to change how you receive these emails?
You can update preferences in your account or unsubscribe from this list.