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COVID-19 Clark County Businesses Resources & Guidance

If your business has experienced a loss due to CoVID-19, federal and State legislation has opened up the possibility for small businesses to receive assistance for economic loss.

Small Business Administration Assistance

Update: 3/20/2020 – 12:50pm

We have been informed that we no longer need Economic Injury Disaster Loans and that Clark County has qualified for the SBA’s disaster declaration. We are currently awaiting to be added to the official declaration.

You can find resources for business assistance at Columbia River Economic Development Council’s CoVID-19 resource website: http://www.credc.org/covid19businessresources

Original Post:

While the Small Business Administration is still figuring out the details of the program, they have reached out to collect information on eligibility from the various jurisdictions.  If you have experienced business losses due to COVID-19, you can apply for the Economic Injury Disaster Loan (EIDL) program.

  • If a small business has suffered substantial economic injury as a result of COVID-19, it may be eligible for financial assistance from the U.S. Small Business Administration.
  • Small businesses and small agricultural cooperatives that have suffered substantial economic injury may be eligible for the SBA’s Economic Injury Disaster Loan (EIDL) Program.
  • Substantial economic injury is the inability of a business to meet its obligations as they mature and to pay its ordinary and necessary operating expenses.
  • An EIDL can help meet necessary financial obligations that a business could have met had the disaster not occurred.
  • It provides relief from economic injury caused directly by the disaster and permits the business to maintain a reasonable working capital position during the period affected by the disaster.
  • The SBA provides EIDL assistance only to those businesses that SBA determines are unable to obtain credit elsewhere.  
  • The loan amount will be based on the business’ actual economic injury and financial needs.
  • The interest rate on EIDLs cannot exceed 4 percent per year.
  • The term of the loans cannot exceed 30 years.
  • Terms and conditions will be determined by the business’ ability to repay the loan

If you have questions or concerns, connect with Anthony Vendetti, the Recovery Unit Leader, at 360-992-6271.

Photo by Ali Yahya on Unsplash

State Employment Security Assistance

The Washington State Employment Security Department has updated guidance on their Paid Sick & Safe Leave and Paid Family & Medical Leave programs and provided Emergency Rules to the Unemployment Insurance Program.

A couple examples:

  • Workers may receive unemployment benefits and employers may get relief of benefit charges if an employer needs to shut down operations temporarily because a worker becomes sick and other workers need to be isolated or quarantined as a result of COVID-19.
  • Standby will be available for part-time workers as well as full-time workers, as long as they meet the minimum 680 hours.
  • Workers that are asked to isolate or quarantine by a medical professional or public health official as a result of exposure to COVID-19 may receive unemployment benefits and work search requirements will be waived, so long as they have a return date with their employer. The return to work date can be the date the isolation or quarantine is lifted.
  • If a worker falls seriously ill and is forced to quit, they cannot collect unemployment benefits while they are seriously ill but may be eligible once they recover and are able and available for work.

A visual guide is available here.

Additional Resources

Small Business Administration CoVID-19 Guidance:
https://www.sba.gov/page/guidance-businesses-employers-plan-respond-coronavirus-disease-2019-covid-19

Information on Small Business assistance: http://startup.choosewashingtonstate.com/links/crisis/covid-19-resources/

Information on Employment Security: https://esd.wa.gov/newsroom/covid-19

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