News and Updates | Issued on April 13, 2020

News Briefing

The Port of Benton publishes news updates for its tenants, lessees, and partner organizations. To view more about the Port of Benton and other news please visit our website.

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Inslee Announces Relief for Businesses, Workers, Renters and More...

Working Washington Small Business Grant Program/Strategic Reserve Fund Grants Governor Inslee announced substantial measures for Washington state businesses and workers, as well as renters and other residents who may struggle financially to pay utility bills while dealing with loss of income during the COVID-19 outbreak. This is in addition to the state support for workers and businesses, and the state financial, export, insurance and unemployment assistance that has already been made available. “These are unprecedented times,” Inslee said. “We must do everything we can to support the resiliency of Washington workers and employers.” For more information: RELIEF FOR BUSINESSES

WEDA supporting your local Employers and Workers

WEDA COVID-19 ADO & WEDA Member Conference Calls/Virtual Meetings These meetings will include reports and engagement with WA State Commerce leaders and the SBA/SBDC, featured WEDA members’ best practices/ideas for supporting your local employers and workers, and an idea exchange amongst ADOs/EDOs/economic development professionals and supporters. http://www.wedaonline.org

Paycheck Protection Program (PPP )

PPP which could make a tremendous impact in preserving companies and jobs if fully leveraged. These forgivable loans require that employee and compensation levels be maintained. While the rollout of the program has been far from perfect, it is important to note that loans will be provided on a first-come, first-served basis. Businesses should reach out to their bankers and/or lenders to apply immediately. For a top-line overview of the PPP program CLICK HERE Information for prospective borrowers can be found HERE  The application for borrowers can be found HERE Applications for Economic Injury Disaster Loans are eligible for a grant of  up to   (note: it is important to include those two small words as grants may be less than $10K)  $10K which can be available within 3-5 days. Here is the  new , streamlined application: https://covid19relief.sba.gov/#/ N ew  SBA  Express Bridge Loans  enable small businesses who already have a relationship with an SBA lender to access up to $25K quickly.

The International Economic Development Council (IEDC)

IEDC is conducting free webinars on most upcoming Mondays. new Yesterday’s April 6 program, “A Ten Point Action Plan for Economic Developers”  was outstanding, and is  well-worth watching through this link . IEDC has set up a website with valuable resources, including a “Leadership in Times of Crisis” Tool Kit:  https://restoreyoureconomy.org/index.php Federal tax credits are available through the IRS for small and mid-size businesses  IRS.gov/Coronavirus Facebook Small Business Grants:   Facebook is offering small business grants  –   they have announced that $8.5M will be available in the Seattle region .