Loans – PPP & More

Statewide Resource – No-Cost Accountant Services:   The Seattle Metro Chamber’s REACH program and the Business Health Trust are sponsoring accounting consulting services for small businesses to help employers navigate PPP forgiveness, Employee Retention Tax Credits, the Shuttered Venue Operators Grant and financial record-keeping for the Restaurant Revitalization Fund. The CPA assistance is available to Washington businesses with 100 employees or fewer. Employers can reach out to Leigh ( to get connected with an accountant at Clark Nuber. Many thanks to the Seattle Metro Chamber for offering this amazing resource statewide!

Small Business Flex Fund

(All information was found on the SBA website here.)

The Small Business Flex Fund is a new resource to help you grow your business.

Supported by the Washington State Department of Commerce, the Fund helps small businesses and nonprofits access the financial support they need to thrive.


The pandemic has impacted all of our communities, but it has been especially hard on Washington’s smallest businesses and nonprofits. This loan program is designed to help them access funds they need at a competitive interest rate to bounce back stronger than ever.

Apply now for:
flexible working capital loans
low interest rates
60- or 72-month repayment timelines

Small businesses and nonprofits can borrow up to $150,000 and the money can be spent flexibly, including on payroll, utilities & rent, supplies, marketing & advertising, building improvements or repairs, and other business expenses.

Loan terms


Borrow up to $150,000
3% – 4.5% Interest rates
No fees & interest-only payments for the first year
60-month & 72-month loan terms
72-month loan term only available until 12/31/21


Fewer than 50 employees
Annual revenues of less than $3 million
Experienced direct economic hardship due to COVID-19


Utilities & rent
Marketing & advertising
Building improvements or repairs
Other business expenses


  1. The Small Business Flex Fund is different from other COVID-19 recovery programs because of its network of nonprofit, community-based lenders that have decades of experience helping Washington’s small businesses and nonprofits thrive. Through every step of the loan process, these community lenders are there to assist with the application and can make connections to business support services in your community.
  2. The Small Business Flex Fund is NOT a forgivable loan. This program is not associated with the Federal Paycheck Protection Program ( PPP) or any other SBA program. The borrower will need to pay back the full amount of the loan with interest over a 5 or 6 year term.

Apply Here Now!

PPP loan currently closed

Slideshow about PPP, EIDL, and PPP Forgiveness from Steve Burke, subject matter expert for WA State SBDC

The SBA put out this webinar explaining the Shuttered Venue Operators Grant that has some great info on the difference between the SVOG, EIDL, and PPP.

PPP Loan Forgiveness Application

Covid 19 EIDL

Small business owners and qualified agricultural businesses in all U.S. states and territories are currently eligible to apply for a low-interest loan due to COVID-19.

Agricultural businesses with 500 or fewer employees are now eligible as a result of new authority granted by Congress in response to the pandemic.

Agricultural businesses include those businesses engaged in the production of food and fiber, ranching, raising of livestock, aquaculture, and all other farming and agricultural related industries (as defined by section 18(b) of the Small Business Act (15 U.S.C. 647(b)).

FAQ Regarding Covid-19 EIDL


Targeted EIDL Advance

Applicants for the COVID-19 Economic Injury Disaster Loan (EIDL) may be eligible to receive up to $15,000 in funding from SBA that does not need to be repaid. These “advances” are similar to a grant, but without the typical requirements that come with a U.S. government grant.

To receive an advance, you must first apply for a COVID-19 Economic Injury Disaster Loan. You do not need to accept the loan or be approved for the loan to receive an advance. Once you apply for the loan, SBA will invite you via email to apply for one of the advance programs if your business is located in a low-income area (see below for more detail).

Before you apply, please check the map to ensure you are in a low-income area and review the eligibility criteria below.

Please do not submit duplicate COVID-19 EIDL applications. If you have already applied or cannot find your invitation email, instructions on how to have your application updated or reevaluated are below.

Apply Here

EIDL Loan Applications Extended Until the End of 2021!

Loans are offered at affordable terms, including a 3.75% interest rate for small businesses and 2.75% for non-profit organizations, a 30-year maturity, and an automatic deferment of one year before monthly payments begin. All eligible small businesses and nonprofits are encouraged to apply.
This week, SBA announced that the deadline to apply for a COVID-19 pandemic Economic Injury Disaster Loan has been extended to December 31, 2021.To date, SBA has approved $197 billion in low-interest loans, which provide U.S. small businesses, non-profits, and agricultural businesses working capital funds.
Economic Injury Disaster Loan applications will continue to be accepted through December 2021, pending the availability of funds.
Click here to learn more and apply for an Economic Injury Disaster Loan
More information will be shared as new programs are rolled out.

The American Rescue Plan Act added 15 Billion in available funds for the EIDL payments, including 5 billion for supplemental for those hardest hit.

Coastal Communities Loan Fund: 
Great loan option for small businesses impacted by Covid-19 if you need accessible, low- interest, deferred loans.
–Loans up to $25,000 for working capital 
–Streamlined application and approval process 
–Low interest rates, deferred loan payments
–Located in Clallam, Jefferson, Grays Harbor, Pacific or Wahkiakum County 
–Operating business, not a passive real estate entity 
–In business for a minimum of one year, and able to provide a 2018 Federal Tax Return 
–Viable, demonstrating profitability before disruptions from COVID-19
–Have a plan to recover post-disruption 
–Current on federal income taxes
Size and Terms: Loan Size: up to $25,000 (must justify amount in application) Interest Rate: 2.44% (variable; 75% of WSJ Prime) Term: 7 years Repayment Schedule: Principal and interest payments will be deferred for six (6) months. Interest will accrue during deferral period. Deferral may be extended based on demonstrated need. Loans may be prepaid, in part of whole, at any time without penalty. Fees: No application fee; a closing fee of up to $500 can be amortized in the loan. 
Uses of Funds: Loan proceeds may be used for working capital (examples include but are not limited to payroll, rent, insurance, utilities, etc.). 
1. A UCC lien on business assets
2. All owners owning 20% or more of the business will be required to execute a personal guarantee 
For more information or to apply, contact: Melissa LaFayette

Main Street Lending Program: The MSLP is intended to provide support for small and mid-sized businesses through four-year term loans (the “Main Street Loans”) from eligible lenders to eligible US businesses, which together with their affiliates, have up to 15,000 employees or revenues of up to $5 billion. First Federal and other local community banks are participating in the US Federal Reserve program.

SBA 7(a) Business loans7a loan proceeds can be used for short-term or long-term working capital and to purchase an existing business, refinance current business debt, or purchase furniture, fixtures and supplies.

SBA 504 loans A 504 loan may be used to purchase fixed assets such as: land and improvements, including owner-occupied buildings, grading, street improvements, utilities, parking lots and landscaping; construction of new facilities, or to modernize, renovate or convert existing facilities; or to purchase long-term machinery and equipment with a useful life of at least 10 years. Soft costs like architectural and legal fees, environmental studies, appraisals, and interest and fees on the construction and/or interim bank financing can also be rolled into the loan. Financing for other needs such as working capital, inventory, debt consolidation or refinancing are eligible through a separate SBA 7(a) Loan Guaranty Program.
SBA Microloans – The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000.
The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.
For more information go to: SBA 7(a), 504 and microloans
SBA Seattle District Office phone number: 206-553-7310

Craft3 Business Resiliency loans:

  • Loan size of $15,000 to $50,000
  • Interest rate is 5% fixed
  • Term is 48 months (4 years)
  • Payments are:
    • Fully deferred for months 1, 2, 3
    • Interest-only for months 4, 5, 6
    • Principal & interest on the balance amortized over the remaining 42 months
  • Fees:
    • are 2 percent
    • no other closing costs required
    • There is no penalty for early repayment
  • Minimum Eligibility:
    • In business in Clallam County 2+ years
    • Profitable in 2019
    • Personal credit score of 640+
    • Business negatively impacted by Covid-19
  • Learn more:

UDSA Loan Programs:
USDA Business & Industries Loan
Fact Sheet >> Click here
Checklist >> Click here
Pre-Application Guide >> Click here

Our local Washington Small Business Development Center (SBDC) Advisor is Mike Rieckhoff.  He can be reached at
We do our best to keep this page updated but if none of these programs work for your needs contact us @ or there are sometimes programs that may fit a niche industry need at:
SBA Programs – Scams and Fraud Alerts–sba-programs-scams-fraud-alerts?utm_medium=email&utm_source=govdelivery

As mentioned in the video CIE employees would love to help you with this process if you have questions.

Mike Rieckhoff: 360.417.3375

Micah Jonet: or you can click HERE to make an appointment with him.

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