Gov. Jay Inslee approved House Bill 1368 which includes a new round of small business grants. The program provides $240M in additional grants solely to small businesses impacted by COVID-19 through the Working Washington grant program. Businesses are eligible for grants up to $75,000. The application portal should open by late March.
Business must meet the following criteria:
- Reported annual gross receipts of $5,000,000 or less to the state department of revenue for the Calendar year 2019
- Occur Expenses necessary to continue business operations. In addition, the expense is not a federal, state, or local tax, fee, license, or other government revenue
- Self–attest the expense is not funded by any other government or private entity
- Experienced a reduction in business income or activity related to COVID-19 or state or local actions in response to COVID-19
- Agree to operate in accordance with the requirements of applicable federal, state, and local public health guidance and directives
Of the $240M in grants, $90M “is provided solely to assist the reopening of businesses that temporarily totally closed their operations.” This can cover the following:
- Upgrading physical workspace to adhere to new safety or sanitation standards
- Personal Protection Equipment (PPE)
- Employee costs including Payroll, Training, and Onboarding
- Rent, Mortgage, Insurance, Utilities
- Supplies and Services for Operations
Understand, expenses for ‘Supplies and Service for Operations’ are similar to those allowed in the Second Draw of Paycheck Protection (PPP) Loans.
It is important to note, these grant funds cannot overlap with expenses funded by other grants or programs. These programs include PPP, Economic Injury Disaster Loans (EIDL), or previous Working Washington Grants.
In addition to these new funds, there may be separate business support programs coming from local governments. Information on additional relief funding by county is available on the County Business Resources page.
Get in touch with one of our specialists to review your future needs and get you a quote. This way you to include it in your Working Washington grant request amount.
To learn ways in which we can help your organization best take advantage of the upcoming round of grant funding, contact Time Equipment Company at firstname.lastname@example.org or 800-997-8463.
*This document simplifies complex Acts as it is understood by Time Equipment Company. It is not to be taken as legal advice. The regulations for this program are changing. For further information about the Working Washington Grants please visit startup.choosewashingtonstate.com.