The newest federal stimulus package has renewed and expanded financial support for small businesses across sectors. Key changes include:
- $284 billion for the renewed Paycheck Protection Program(PPP), including added flexibility.
- Economic Injury Disaster Loan (EIDL)is extended to December 31, 2021
- $20 billion has been added for additional Loan Advance grants
- $15 billion grants for shuttered live venues
The Paycheck Protection Program (PPP) offers forgivable loans to small businesses to pay their employees and other expenses during the COVID-19 crisis. The Economic Injury Disaster Loan (EIDL) programs offer low-interest working capital loans to help small businesses meet financial obligations and cover operating expenses. The Shuttered Venue Operators Grant provides help for live event venues, promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theatre operators, or talent agencies who were devastated by the COVID-19 pandemic.
OED provides free technical assistance to businesses applying for the Paycheck Protection Program (PPP) , Economic Injury Disaster Loan (EIDL), and Shuttered Venue Operators Grant. This includes helping businesses navigate the application process. For general inquiries, please email OED@seattle.gov or call (206) 684-8090.
COVID-19 Relief for Small Businesses
Washington Small Business Development Center (WSBDC) is hosting two webinars to support small businesses applying for a Paycheck Protection Program (PPP) Loan and Economic Injury Disaster Loan (EIDL).
Updates to PPP Loan Forgiveness Instruction
January 22, 10:00 – 11:30AM
Join WSBDC and the U.S. Small Business Administration to review the new coronavirus relief bill updates to the loan forgiveness application and related instructions.
SBA Round 2 COVID-19 Relief and PPP Applications
January 29, 10:00 – 11:30AM
New coronavirus relief provisions were signed into law on December 27th. This webinar will cover key elements of the legislation with a focus on the new round of Paycheck Protection Program (PPP) and the application process
Seattle Office of Economic Development is offering FREE technical assistance to small businesses applying for PPP, EIDL, and more. We have bilingual interpretation in Spanish, Vietnamese, Cantonese, Mandarin, Korean, Somali, Amharic, Tgrinya, and Thai. For technical support, contact OED at 206-684-8090 or OED@seattle.gov.