Financial Assistance


SBA Loans

SBA Loans

For more information visit:

Economic Injury Disaster Loan (EIDL): SBA direct loan
  • Process is now streamlined if you have an unfinished application through the online portal or a printed version, you will need to log in and apply using the new streamlined process.  Helpful steps for applying:
  • Go to
  • Select the appropriate entity-most practices should select business with not more than 500 employees
  • Review and confirm if your state and county have been designated as a “disaster zone” due to COVID-19
  • Proceed with the submission based on your business and ownership structure
  • Important note: you will not request a specific loan amount. Once your application is received, your SBA case partner will work with you to determine your economic losses and working capital needs
  • The process should not take longer than 30 minutes to complete.
  • Practice patience and persistence as there is a lot of traffic on the site, which may create delays.
  • On March 27, 2020, President Trump signed into law the CARES Act, which provided additional assistance for small business owners and non-profits, including the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven.
  • Eligible applicants for an EIDL can receive a $10,000 emergency grant within three days of application (through Dec. 31, 2020)
  • There is no obligation to repay the grant.
  • To receive the $10,000 emergency grant, it is not necessary to have an approved EIDL loan. However, if you are able to secure a PPP loan, the $10,000 grant will be subtracted from the forgiveness amount
  • NOTE: The Paycheck Protection Program (PPP) created by the CARES Act prohibits borrowers from taking out two loans for the same purpose. For more information on PPP loans, visit
  • RESOURCES: Guide to SBA’s Economic Injury Disaster Loans 
Paycheck Protection Program (PPP):

Due to the unprecedented demand for Paycheck Protection Program loans by the nation’s small businesses and to ensure equitable access and system integrity, SBA and Treasury are taking prudent and reasonable steps to protect SBA’s loan systems for the next phase of PPP loan processing.

SBA and Treasury are implementing the following measures:

      • Pacing the number of loans processed in the E-Tran system for participating lenders when processing resumes on Monday, April 27, 2020 at 10:30 am EDT;
      • Instituting a maximum dollar amount at 10% of PPP funding authority that any lending institution will be able to originate, exclusive of the additional $60 billion preserved for lenders with assets under $50 billion (i.e. $60 billion cap);
      • Implementing operational standards to ensure that lenders access PPP funds based on their asset size;
      • Ensuring the Paycheck Protection Program continues to operate on a first-come, first-serve basis so that every small business has access to PPP loans to sustain their business and retain their employees; and
      • Issuing the following guidance ( for lenders who have received a significant amount of loan applications.
      • SBA and Treasury value all lenders and their small business customers and will continue to provide updates to the PPP lending community as loan processing resumes this week.
      • How to calculate loan amount can be found here
  • Intention of this loan is to provide 8 weeks of payroll & certain overhead to keep workers employed.
  • Can request a loan up to 10 Million
  • Interest .5%
  • Maturity 2 years
  • No collateral or personal guarantees required
  • No lender fees apply
  • 100% Guaranteed from SBA
  • Loan Payments differed 6 months
  • Retroactive to 2/15/2020 through 6/30/2020
  • This loan is available through SBA Certified Banks, which means you would apply for financing through a financial institution.
  • Banks are awaiting formal guidance from the SBA regarding the lending parameters. SBA guidance will be required in order for any SBA certified lending institution to begin the formal application process.
  • PPP Loans can be obtained up to 2.5 times your monthly payroll.
  • SBA has 30 days to publish the rules regarding forgiveness
  • Loan amounts will be forgiven if used for employee pay, rent, utilities, mortgage interest and health insurance.
  • Not more than 25% can be forgiven for non-payroll costs
  • Eligibility:  All business including nonprofits a 501 (c ) (3), veterans organizations a 501 (c ) (19), tribal concerns from section3131 (B) (2) (c ), sole proprietorships, self employed and independent contractors with 500 or less employees no greater than the # of employees set by SBA as size standard for certain industries.
  • RESOURCES – US Treasury Memo: With $349 Billion in Emergency Small Business Capital Cleared, Treasury and SBA Begin Unprecedented Public-Private Mobilization Effort to Distribute Funds


PPP Borrower Application Form

PPP Loan Forgiveness Documentation (What You Need)

PPP Loan Forgiveness
May 27 – Changes and Clarifications are continuing.
Possible changes to 75% Payroll requirement, Clarification of start date, and more
Release Number:

Washington—Today, the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.

The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities.

The form and instructions include several measures to reduce compliance burdens and simplify the process for borrowers, including:

  • Options for borrowers to calculate payroll costs using an “alternative payroll covered period” that aligns with borrowers’ regular payroll cycles
  • Flexibility to include eligible payroll and non-payroll expenses paid or incurred during the eight-week period after receiving their PPP loan
  • Step-by-step instructions on how to perform the calculations required by the CARES Act to confirm eligibility for loan forgiveness
  • Borrower-friendly implementation of statutory exemptions from loan forgiveness reduction based on rehiring by June 30
  • Addition of a new exemption from the loan forgiveness reduction for borrowers who have made a good-faith, written offer to rehire workers that was declined

The PPP was created by the CARES Act to provide forgivable loans to eligible small businesses to keep American workers on the payroll during the COVID-19 pandemic.  The documents released today will help small businesses seek forgiveness at the conclusion of the eight week covered period, which begins with the disbursement of their loans.

Click Here for Application and Instructions.

List of Lenders to Help Apply for Funds

SBA Participating Lenders – Organized by Location

Local Loans and Grants

City of Tacoma COVID 19 Loan

City of Tacoma COVID 19 Loan

  1. Last day To Submit A COVID-19 Pre-Application To Be Considered For The Loan Is Tuesday, April 7, 2020, At 5 Pm
  2. City of Tacoma will be offering small loans that require no repayment for a year. Loan payments will be deferred for 12 months after loan closing. This means that if your business is approved for a loan and we close in April 2020, you will not have to make any monthly payments until April 2021. During that time, interest will accrue on the loan.
  3. You may borrow up to $15,000.
  4. Only small businesses with less than 10 or fewer employees who have a physical establishment (home-based businesses are not eligible) within Tacoma City limits are eligible to apply. The business must have been operating in Tacoma for at least a year. The business must be able to document a significant loss in revenue/sales due to COVID-19.
  5. Use the funds for Working capital.
  6. Lack of equity and collateral will not disqualify a business from being eligible for this loan. Equity and collateral requirements will vary based on the assets, and net worth of the business and borrower.
  7. Loans are 5-year amortization period at a fixed interest rate of 75% of Wall Street Journal prime rate (As of 3/27/20, the interest rate offered to applicants is 2.44% and is subject to change as prime rate changes). No pre-payment penalties.
  8. To apply: Complete the COVID-19 Pre-Application Form. Staff will review your intake form and notify you of your eligibility within 2 business days.
  9. Eligible applicants will receive an email with a DocuSign link containing the loan application. Once the application is completed and all required documents are attached, the application will be reviewed April 3rd. Make sure to submit all documents by April 2nd end of day if you wish to make the first round of review.
  10. Those that submitted an application by end of day April 2nd, will receive notification of approval or rejection by April 14.
  11. Once an application has been approved staff will prepare the loan closing documents to be signed digitally. Applicants must have their signatures notarized, banks and financial institutions may have notaries available.
  12. Upon completion of loan, closing staff will issue payment via check or direct deposit.
  13. Please complete our COVID-19 Stabilization Loan Pre-Application.
  14. There is no cost to apply.

For Questions Email:

City of Tacoma Tax Credits

For more information visit: COVID-19 Tax Relief for Tacoma Business


Pierce County Loans

COVID-19 Emergency Small Business Relief Loan Program

  1. Application for the COVID-19 Emergency Small Business Relief Loan Program
  2. Loan amounts up to $10,000 will be awarded, based on number of employees. Loans will be offered to qualified applicants at no interest and no payments for 12 months.
  3. Businesses applying for loans under this program must:
    1. Be a business physically located in unincorporated Pierce County (not within city limits)
    2. Have 10 or fewer employees (including business owner)
    3. Be in operation for one or more years
    4. Demonstrate at least a 25% reduction in revenues attributable to the COVID-19 pandemic
  4. Only one loan per business owner or owner group, regardless of the number of business locations an ownership may have. Applications will be accepted on a first come, first served basis, subject to available funds.

Apply online at or for more information contact the Pierce County Economic Development Department at (253) 798-6150 or

Working Washington Small Business Emergency Grant program (WWSBEG)
  • Washington State Governor Jay Inslee announced a new grant program to assist small businesses impacted by the COVID-19 pandemic. 
  • This program was created to help very small businesses (ten or fewer employees) who have been in business for over one year.
  • Up to $5 million in funds are provided through the Governor’s Strategic Reserve Fund and administered by the State Department of Commerce.
  • The grant program will provide a limited number of businesses in Washington’s 39 counties with a grant up to $10,000. 
  • Only apply for one grant per business.
  • Allow 4 to 6 weeks for processing.
  • Pierce County businesses should apply by completing the application available and email it to 
  • Download Application
  • Small businesses that qualify for the grant program will submit applications through their local county/regional economic development organizations please visit this website to find out where to process your loan application
  • County/regional economic development organizations will prioritize applications based on the severity of the impact the business is facing due to COVID-19, including from being forced to close by the government-mandated closures, social distancing measures or illness.
  • Recommended awards will be sent to the Department of Commerce for review and vetting.
  • Qualifying applications will be forwarded to the Governor for review and signature.
  • Your local ADO will administer approved awards to the successful company.
  • Awards will be approved on a case-by-case basis and are dependent on the availability of funds. The objective is to support businesses through the crisis and enable them to retain as many employees as possible.
  • Funding is not meant to help launch a business, but to support existing businesses who are specifically affected by the COVID-19 crisis and are vital members of their local community.
  • Applicants are eligible to receive one Working Washington Grant award during the current budget cycle, which ends on 06/30/2021.
U.S. Chamber Save Small Business Fund ($5000 Grant)

Small businesses are the foundation of our communities and our economy. Employing nearly half the American workforce, companies like yours keep our neighborhoods running and make them feel like home.

We know you’re facing multiple challenges right now, and every dollar counts.

Funded by corporate and philanthropic partners, the Save Small Business Fund is a collective effort to provide $5,000 grants to as many small employers as we can. We hope these supplemental funds will help you get through the next days and weeks.   

To Qualify You Must

  • Employ between 3 and 20 people
  • Be located in an economically vulnerable community
  • Have been harmed financially by the COVID-19 pandemic
  • See if your zip-code is eligible

Applications open April 20, 2020, 12:00pm Pacific Time

It will take about 10 minutes to complete.
  • All you will need is your business’s W-9 form.
  • Grants will be awarded on a weekly basis, but you only need to apply one time to be eligible for funding.

To apply, click here

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