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MEMBER NEWS

SBA Offers Disaster Assistance to Washington Small Businesses Economically Impacted by the Coronavirus (COVID-19)

3/16/2020

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​The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Washington small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Jay Inslee on March 13, 2020.
 
The disaster declaration makes SBA assistance available in Adams, Asotin, Benton, Chelan, Clallam, Columbia, Franklin, Garfield, Grays Harbor, Island, Jefferson, King, Kitsap, Kittitas, Klickitat, Lewis, Lincoln, Mason, Okanogan, Pacific, Pierce, San Juan, Skagit, Skamania, Snohomish, Spokane, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima counties in Washington; Benewah, Latah and Nez Perce counties in Idaho; and Gilliam, Hood River, Morrow, Sherman, Umatilla and Wasco counties in Oregon.
 
“SBA is strongly committed to providing the most effective and customer-focused response possible to assist Washington small businesses with federal disaster loans. We will be swift in our efforts to help these small businesses recover from the financial impacts of the Coronavirus (COVID-19),” said Administrator Carranza.
 
SBA Customer Service Representatives will be available to answer questions about SBA’s Economic Injury Disaster Loan program and explain the application process.
 
“Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus (COVID-19) since Jan. 31, 2020, may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred,” said Carranza.
 
“These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. Disaster loans can provide vital economic assistance to small businesses to help overcome the temporary loss of revenue they are experiencing,” Carranza added.
 
Eligibility for Economic Injury Disaster Loans is based on the financial impact of the Coronavirus (COVID-19). The interest rate is 3.75 percent for small businesses. The interest rate for private non-profit organizations is 2.75 percent. SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years and are available to entities without the financial ability to offset the adverse impact without hardship.
 
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email [email protected] for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.
 
The deadline to apply for an Economic Injury Disaster Loan is Dec. 16, 2020.
 
For more information about Coronavirus, please visit: Coronavirus.gov.
 
For more information about available SBA resources and services, please visit: SBA.gov/coronavirus.
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Copyright © Tri-City Regional Chamber of Commerce. All rights reserved.
7130 W Grandridge Blvd., Suite C, Kennewick, WA 99336 USA
Phone: (509) 736-0510
[email protected]
Hours
Monday - Thursday: 8 am - 5 pm
​(closed for lunch 12 - 1 pm)
​Friday: 8 am - 12 pm
​Closed Weekends

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  • MEMBERSHIP
    • Membership Directory
    • Member Login
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    • Membership Features
    • Sponsorship Opportunities
    • Stakeholder, Leader, & Growth Level Members >
      • Stakeholder and Leader Profiles
  • EVENTS
    • Chamber Calendar
    • Annual Events >
      • Annual Meeting & Awards Luncheon
      • Women in Business Conference >
        • Call for Speakers - Tri-Cities Women in Business Conference
        • ATHENA Awards
      • Tri-Cities Diversity Summit
      • State of the Cities
      • Elected Leaders Reception
      • Tri-Cities Day at the Capitol
      • Bridging Partnerships Small Business Symposium
    • Monthly Membership Luncheon
    • Business After Hours
    • Ribbon Cutting Request
  • PROGRAMS & SERVICES
    • Ambassador Club
    • Ask the Experts
    • Business Builders Resource Roundtable
    • Business Resource Navigator
    • LEARN Groups
    • Member Advertising Opportunities
    • myTRI 2030
    • Office Depot Savings Program
    • Washington APEX Accelerator >
      • Meet the Buyer
      • Yes, You Can! Contracts with the Government
    • Workforce & Education >
      • Tri-Cities Regional Career Signing Day
      • Washington Workforce Portal
      • Job Board
  • Advocacy
    • Legislative Action and Advocacy
    • Business Advocacy Letters
    • 2025 State Budget
    • Vote for Business
    • 2024 Legislative Score Card
  • NEWS
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  • ABOUT US
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    • Our Leadership
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    • Committees
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    • Tri-Cities Strategic Alliance Partners >
      • Benton-Franklin Council of Governments
      • TRIDEC
      • Visit Tri-Cities
    • Tri-Cities Community Map
    • Built for Prosperity - Strategic Plan 2024-2026