ADDITIONAL FINANCING FOR SMALL BUSINESSES 

The City of Tacoma is highlighting information on important resources, including funding, to assist you and your employees.  Additional resources may be accessed at https://makeittacoma.com. 

Financial Resources 

• DEADLINE APPROACHING:  Nonprofit Community Relief Grants Open Until May 24, 2021.  The Washington State Department of Commerce in cooperation with the Arts Fund is providing over $10 million in grants to help community organizations impacted by the pandemic.  Grants range from $2,500 to $25,000.  Awards must be used to pay for expenses incurred between March 1, 2020 and June 30, 2021, but cannot cover COVID-19 related expenditures for which public or private funding sources have already been received.  In order to be eligible, organizations must meet all of the following criteria:
  • Arts, culture, science and heritage organizations
  • Neighborhood organizations
  • Sports and recreation organizations
  • Veterans organizations.
• 501(c)(3) status or fiscal sponsorship by a 501(c)(3) with appropriate documentation since FY2019, and
• A 2019 annual operating budget greater than $25,000, and
• Operate in one or more of the following areas:
• Please click here to review Frequently Asked Questions.
• Explore the website here.

• DEADLINE APPROACHING:  U.S. Small Business Administration (SBA) Restaurant Revitalization Fund Applications Open Until May 24, 2021.  This program provides restaurants, bars and other places of business that serve food and/or drink with non-taxable funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location.  Minimum amount is $1,000.  Recipients are not required to repay the funding as long as funds are utilized for eligible uses no later than March 11, 2023.  The American Rescue Plan allocated a total of $28.6 billion nationwide.  Eligible entities include:

• Restaurants
• Food stands, food trucks and food carts
• Caterers
• Bars, saloons, lounges and taverns
• Snack and non-alcoholic beverage bars
• Bakeries (on-site sales to the public must comprise at least 33% of gross receipts)
• Brewpubs, tasting rooms, taprooms (onsite sales to the public must comprise at least 33% of gross receipts)
• Wineries and distilleries (onsite sales to the public must comprise at least 33% of gross receipts), and
• Licensed facilities or premises of a beverage alcohol producer where the public may test, sample or purchase products.

• Allowable uses of funds are:
• Business payroll costs (including sick leave)
• Payments on any business mortgage obligation
• Business rent payments (excludes prepayment of rent)
• Business debt service (both principal and interest; excludes prepayment of principal and interest)
• Business utility payments
• Business maintenance expenses
• Construction of outdoor seating
• Business supplies (including protective equipment and cleaning materials)
• Business food and beverage expenses (including raw materials)
• Covered supplier costs, and
• Business operating expenses.
• Linked here is an SBA presentation (as of April 27, 2021) focused on the Restaurant Revitalization Fund. 
• A sample application in various languages is available here.
• Access the Washington Hospitality Association's new RRF toolkit here.
• Tax statements and other information will be required in order to apply.  However, registration with SAM.gov is not required, nor are DUNS or CAGE identifiers.
• Further information is available through this link.
• Sign up to receive email alerts from SBA as additional information becomes available. Click here.
• Access call center support at (844) 279-8898.

Register for the SBA application portal - click here

Restaurant Revitalization Fund This program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impacted by COVID-19. http://www.sba.gov

• CONTINUING:  Shuttered Venue Operators Grant Open.  The SBA Shuttered Venue Operators Grant (SVOG) Program is designed to assist live venue operators (fixed seats, ticket sales, public promotion) or promoters, theatrical producers, live performing arts operators, museum operators, motion picture operators and talent representatives who demonstrate a revenue reduction due to COVID-19.  A total of $16.2 billion is available nationwide.  To learn more, access the links below. 

• SVOG Portal (Apply here)
• FAQs
• Application Checklist
• Eligibility Requirements Chart

• CONTINUING:  Opportunities Remain to Access SBA Paycheck Protection Program (PPP) Loans.  Most of the PPP funds across the U.S. have been depleted.  However, there is still capacity by our some of state's Community Development Financing Institutions (CDFIs) to process applications.  Washington State businesses have obtained nearly $5.7 billion with approval of 82,227 forgivable loans.  Across the U.S., the average loan size in 2021 is $45,487.  Reach out to the CDFIs and others still accepting PPP applications by finding a lender at https://www.smallbizhelpwa.com/lenders.

• CONTINUING:  PPP Application Deadline Extended for All Eligible Businesses until May 31, 2021. On March 30, 2021, President Biden signed into law H.R. 1799 - the PPP Extension Act of 2021.  This action extends the PPP application deadline to May 31, 2021 or until funds are exhausted and allows the SBA to process loans through June 30, 2021.
• SBA programs are highlighted below:
• Up to a $10 million First Draw Paycheck Protection Program (PPP) Loan, 
• Loan forgiveness for First Draw Paycheck Protection Program Loans up to $150,000, 
• Up to a $2 million Second Draw Paycheck Protection Loan, 
• Economic Injury Disaster Loan (EIDL) Advance for 30-year working capital loans, 
• Debt relief for SBA 7a, 504 (SBA portion) and microloans, 
• Up to a $10 million Shuttered Venue Operators grant, 
• Employee Retention Tax Credit, and
• Additional support, including technical assistance for non-English speakers and underserved communities.
• PowerPoint presentations, guidance, interim rules and other information are available on www.MakeItTacoma.com as follows:
• Applying for the PPP loan and forgiveness (here)
• SBA SAM Registration Guide (here)
• Contact the PPP Assistance Line at (833) 562-1078 regarding questions about PPP.
• There are several other helpful links on MakeItTacoma.com from the SBA here (See Federal Resources section).

• CONTINUING:  National Development Council (NDC), a Community Development Financial Institution, Continues to Process First and Second Draws Paycheck Protection Program Loans.  NDC is a Community Development Financial Institution (CDFI) with whom the City of Tacoma has worked closely with for several decades.  It is processing loans for existing and new clients. Learn more and apply here. The National Development Council has prepared a list of Frequently Asked Questions. Highlights include:  
• The Paycheck Protection Program (PPP) is a fully forgivable loan to help businesses continue to employ their staff during the COVID-19 pandemic.
• If you have already received a PPP loan, you may be eligible for a Second Draw Loan--specifically, if your business saw a 25% reduction in revenues between comparable quarters in 2019 and 2020.
• You must use 60% of PPP funds for payroll, including benefits. The remaining funds can be used for mortgage interest, rent, utilities, COVID-related PPE and other specific costs.
• Access the National Development Council's PPP calculator and guidance here.
  
  
• CONTINUING:  Statewide PPP Lender List.  Research funding, technical assistance providers and lenders here.  
  
  
• CONTINUING:  SBA Lender Match.  The SBA Lender Match portal helps businesses find lenders, as not all SBA lenders are participating in the Paycheck Protection Program.  Lender Match is a free online tool that connects small businesses with SBA-approved lenders, even if there is no existing working relationship.  Find further information here.

• CONTINUING:  SBA Increased Economic Injury Disaster Loan (EIDL) Amounts for Small Businesses and Non-Profit Organizations.  As of April 6, 2021, the SBA raised the loan limit  for the COVID-19 EIDL Program from six months of economic injury with a maximum loan amount of $150,000 to $500,000 to cover up to 24 months of economic harm. Terms are 30 years with funds lent at 3.75% to for-profits and 2.75% to non-profits.  For further information, click here.    

• CONTINUING:  Impact Washington Recovery Assistance for Small- and Medium-Sized Manufacturers Now Open Until September 24, 2021.  Federal CARES Act funds are available to small- and medium-sized manufacturers to support their ability to recover from the coronavirus.  Funding is available based on a 50%:50% match up to a $4,000 grant.  There is no formal application process.  It starts with your company's inquiry and a no-cost Recovery Assessment.  The business assessment will help you to:
• Discover insights into where your team is or isn't aligned; 
• Provide operational prioritization of areas to focus your resources; and/or
• Provide a foundation to a Recovery Plan.
• Applicants include manufacturers, producers and value-added processors in sectors such as agriculture, food and beverage, seafood processing, aerospace products and parts, wood and paper products, chemical manufacturing, pharmaceutical and medicine manufacturing, maritime, clean technology and more.
• For further information, contact bdevol@impactwashington.org or click here.
  
  
• CONTINUING:  No-Cost Accountant Services Statewide Now Available to Washington Businesses with 100 Employees or Fewer.  The Seattle Metro Chamber's REACH Program and Business Health Trust are sponsoring accounting consulting services for small businesses to help employers navigate PPP, the Restaurant Revitalization Fund, Shuttered Venue Operators Grant and Employee Retention Tax Credits.  CPA assistance is available to Washington businesses with 100 employees or fewer.  E-mail Leigh (leighj@seattlechamber.com) to get connected with an accountant at Clark Nuber.

Healthy Washington--Roadmap to Recovery  

• Healthy Washington--Roadmap to Recovery  

  • CONTINUING:  No Cost COVID-19 Vaccinations Readily Available.   For location options and information, visit the Washington DOH Vaccine Locator.
  • In addition, vaccine appointment opportunities may be found at https://www.tpchd.org/vaxtothefuture, and health-related guidance is available by consulting the Tacoma-Pierce County Health Department at https://www.tpchd.org. 
  • CONTINUING:  All Washington Counties Are Now in Phase 3.  Governor Inslee announced that the state is advancing toward a June 30, 2021 statewide reopening date.  Full reopening could occur earlier if 70% or more of Washingtonians over the age of 16 initiate vaccination.  Guidelines may be found here.

Details for specific types of businesses are linked below.

• Restaurants, Taverns, Breweries, Wineries, Distilleries
• Professional Services
• Personal Services
• Bowling
• Museums
• Movie Theaters
• In-Store Retail
• Miscellaneous Venues
• Real Estate

Employer/Employee Resources

• CONTINUING: City's 2021 Construction Projects Forecasting The City of Tacoma has created a forecasting schedule for planned construction projects in 2021. By reviewing the list of projects, firms can prepare for opportunities to form joint ventures and initiate contact with prime contractors and/or other subcontractors.  Click on the link above for a list of upcoming projects.  Contact our Purchasing Department at (253) 502-8468 for information on our procurement process.

Events & Training

UPCOMING SMALL BUSINESS DEVELOPMENT CENTER WEBINARS

• Restaurant Revitalization Fund Information Sessions:  Register at live webinars

Restaurant Revitalization Fund Information Sessions Join the SBA’s Seattle district office to learn about the Restaurant Revitalization Fund. Register here

• Other SBDC webinars:  https://wsbdc.ecenterdirect.com/events 

Updates to PPP Loan Forgiveness Instructions:

• May 28:  10:00 a.m. - 12:00 p.m., https://wsbdc.ecenterdirect.com/events/99271547 

OTHER WEBINARS/TRAINING:  There are several webinars, training and programs to participate in, such as: 

• Economic Development Board for Tacoma-Pierce County and Impact Washington Marketing for Success E-Commerce Technical Assistance Application.  Companies must be able to attend a one-hour training each day on June 1, 8, 15 and 22, 2021.  Apply here until May 23, 2021 at 11 p.m. PDT.
• National Development Council Cash Reigns Supreme webinar describing how financial statements can be used to make better business decisions; 
• Tacoma-Pierce County Chamber of Commerce presentations on The Progress Process:  A Path to Equity, Inclusion and Anti-Racist Business through September 30, 2021; 
• Click here for further information at MakeItTacoma.com and to learn about other events and training.

DOWNTOWN FARMERS' MARKET OPEN.  The Broadway Farmers Market located on Broadway between S. 9th and S. 11th Streets is open each Thursday from 10 a.m. - 3 p.m.  

Thank you for your efforts to take care of your businesses and employees. Please forward this newsletter to others who may find these resources useful. If you have specific questions or information to share, reach out to us directly by email at MakeItTacoma@cityoftacoma.org or by phone at (253) 591-2012.

(253) 591-2012 phone; (253) 591-5232 fax Jeff Robinson, Director Elly Walkowiak, Assistant Director  MakeItTacoma@cityoftacoma.org   Community & Economic Development Department 747 Market St., 9th Floor, Tacoma, WA 98402

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