More State Business Funding Opens Nov. 30

By the EDC

Last week, Gov. Jay Inslee announced an additional $70 million for business grants, and $50 million of that is for a new round of Working Washington business grants.

The remainder will go toward funding all qualified businesses that applied in earlier rounds of our resiliency grant program. Businesses who applied for the resiliency grant program will not need to take any action.

The application portal and additional information will be posted at www.commerce.wa.gov/bizgrants.

Who can apply?

These grants are prioritized for:

  • Small businesses with annual revenues of $5 million or less in 2019 AND
  • Businesses in the sectors that are most impacted by the recent public health measures as well as businesses in sectors that have experienced significant, cumulative impacts. Examples include full-service restaurants, fitness centers, bowling alleys and music and event venues.
  • Certain nonprofits may also be eligible if they have a primary business activity that falls into a similar category as noted above, for example, a nonprofit full-service restaurant or nonprofit music venue.
  • If the Washington State Department of Commerce is able to fund all the eligible applicants from the priority pool, and funds remain, commerce may be able to provide grants to additional businesses or nonprofits from other sectors or who have annual revenues larger than $5 million.

What does the grant pay for?

The maximum grant award will be up to $20,000.

The grant can only cover expenses or costs incurred due to COVID-19 and that were necessary to continue business operations.

How can I apply?

The online application portal will open the week of Nov. 30.

The portal link will be available at commerce.wa.gov/bizgrants. Additional information about eligibility and prioritization will also be posted there.

Priority will be given to applications received by Dec. 10.

If commerce is able to fund all the eligible applicants who submit by that time, we may be able to consider eligible applicants who submit after Dec. 10.

Checklist of the information you’ll need to have ready:

  • Applicant W-9 Request for Taxpayer Identification Number
  • Copy of valid government-issued photo I.D.
  • For Tribal-member owned businesses: license or certification if business activity is conducted outside the tribal jurisdiction; letter or certification from the tribe recognizing you as a business if business activity is within the tribal jurisdiction.
  • Copy of 2019 Tax Return or other confirmation of Business Gross Revenues for 2019.
  • For businesses with a physical location, evidence of that location, such as lease, tax statement, utility bill, etc.
  • NAICS code or clear description of your primary business activity. A NAICS code is helpful, but not necessary. If you have never used a NAICS code, you can learn more here: What is a NAICS Code? and explore NAICS codes to see which one fits your business.

This round of applications will go directly through the commerce department, not the EDC. We will pass on more information next week as it becomes available from commerce.

Posted on November 28, 2020 at 5:00 am by

Categories: Business, Government

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