BUSINESS RESOURCES
The City of Tacoma is highlighting information on important resources to assist you and your employees. Additional resources may be accessed at Make It Tacoma
FINANCIAL RESOURCES
- Paycheck Protection Program (PPP) Loan Forgiveness. Recently, the SBA launched a streamlined application portal to allow borrowers with Paycheck Protection Program (PPP) loans of $150,000 or less through participating lenders to apply for forgiveness directly through the SBA. The new forgiveness platform is now accepting applications from borrowers. Learn More.
- SBA Economic Injury Disaster Loan (EIDL) Has Expanded Eligibility to Millions More Small Businesses and Non-Profits. The $25 billion Targeted EIDL Advance and Supplemental Advance Programs are open to the hardest hit businesses by the COVID-19 pandemic, including sole proprietors and independent contractors, and private non-profits that meet the following eligibility criteria:
* Targeted EIDL Advance
* Up to $10,000 that does not have to be repaid
* Must first apply for a COVID-19 Economic Injury Disaster Loan (EIDL)
* Be in a low-income community
* Can demonstrate more than a 30% reduction in revenue, and
* Have 300 or fewer employees.
* Supplemental Advance
* $5,000 supplemental payment that does not have to be repaid
* Complete the Targeted EIDL Advance application
* Be in a low-income community
* Can prove more than a 50% economic loss, and
* Have 10 or fewer employees.
* For More Information