Federal Relief Programs Update:
The Paycheck Protection Program opened this morning roughly an hour ago with an additional $310 billion dollars in funding. The Economic Injury Disaster loan and grant program received an additional $60 billion.
As of April 20:
- 1,794 Washington businesses had been awarded $311.4 million in Economic Injury Disaster Loans
- 28,691 Washington businesses had been awarded $115.7 million in Economic Injury Disaster Loan Advances
As of April 16:
- 30,421 Washington businesses had been awarded $6.9 Billion in Paycheck Protection Program funds
Working Washington Small Business Emergency Grant Update:
This grant program has $10 million in funding for the entire State, with awards of up to $10,000 per business.
Over the weekend, YCDA submitted a batch of 96 applications to the department of Commerce for this program. We received and processed over 780 applications from businesses throughout Yakima County which means roughly 88% of those that applied, did not get forwarded to Commerce to move on in the process. This is a depressing statistic and a testament to how much need there is for financial relief for ALL of the small businesses in Yakima County.
The applications that were forwarded to Commerce will be reviewed this week and next week and submitted to the Governor’s office which will approve somewhere between 30 and 40.
A list of the applications that were forwarded to commerce can be found here: https://www.chooseyakimavalley.com/covid19/wwsbeg/
Statewide, there were over 26,000 applications submitted for this program.