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COVID-19: FINANCIAL RESOURCES FOR BUSINESSES

 

With the COVID-19 situation evolving so quickly, it may be difficult to keep up with the changing information while remaining focused on the daily operations of your business.  Here are some quick access links to helpful information:

 

  • As was announced Monday, businesses in Skagit County and 31 other counties in the state are now eligible to apply for Economic Injury Disaster Loans through the Small Business Administration (SBA). These loans are meant to provide working capital to pay staff, rent, bills, etc., and are not for general refinancing purposes. There is no barrier to receiving this loan if you already have an SBA loan (7a or 504).  The loan process generally takes 3 weeks for review and another week to receive money.   For information on these grants, visit the website at https://www.sba.gov/funding-programs/disaster-assistance,  by phone at 1-800-659-2955 or by email to:   disastercustomerservice@sba.gov

 

  • The SBA also has a Lender Match Program.  This program connects small businesses with private lenders across the country for financing and has a fast turnaround compared to Economic Injury Disaster Loans. Those who use Lender Match may hear back from lenders in as little as two days for loans under $350,000 and within 6-8 days for loans over that amount. Here is the link to the lender match program: https://www.sba.gov/funding-programs/loans/lender-match

 

  • Locally, the Economic Development Alliance of Skagit County (EDASC) is a great resource and is available to help answer questions or provide support when completing applications.  Please contact EDASC for more information and details on how to apply;  by email at  Office@skagit.orgor by phone at 360-336-6114.

 

 

  • Lastly, as we continue to focus on taking care of our community, please be sure to take a moment to take care of yourself.  The National Alliance on Mental Illness has an excellent COVID-19 resource guideto help you manage your stress and anxiety.   Please feel free to share this link with your friends, neighbors, co-workers—anyone who may find it helpful.  These are unprecedented times and we could all use some reassurance to get through it.

 

The Port encourages you to take advantage of these assistance programs for your business, if needed.  Stay well, and please let us know how we can help.

 

If you are a reporter seeking information about the Port of Skagit, please call Linda Tyler, Community Outreach Administrator, at 360-757-0011 or email LindaT@portofskagit.com