Local Cities are evaluating a number of measures to ease impacts to local businesses. Among them are allowing businesses to defer first quarter taxes until July 31, 2020 and not assessing interest or late fees on utility bills while the Emergency Declaration remains in effect. Check with your local municipality to see what relief options are available in your area.
Starting March 26, the Chamber will host a COVID-19 response talk show every Thursday starting at 2:00 pm. After presentations, which cover everything from cash flow strategies to the most recent resources available for recovery, participants can engage experts in a Q+A dialogue to get additional details and advice. Register at: https://zoom.us/webinar/register/WN_oQvL9YuPQpaFAOlaXuTgYg
To view a list of essential businesses or request a clarification, visit https://coronavirus.wa.gov/whats-open-and-closed/essential-business.
Up to $5 million of in the Governor’s Working Washington Fund will be made available as micro-grants to small businesses across the state to help prevent closure due to COVID-19. Commerce will distribute these funds. Check coronavirus.wa.gov for updates on the funding timeline and follow Commerce on Twitter @WAStateCommerce for an announcement when funds are available.
The Federal Reserve announced it will be expanding investment in a variety of credit backing institutions. The goal is to make it easier for lenders to work with companies, student loan holders and other individuals impacted by COVID-19. The stimulus will be accompanied by guidance encouraging banks to be flexible with customers experiencing financial challenges. For more information: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm