COVID-19 Small Business Assistance Resources Available and Request for Impact Information

Monday, March 16, 2020

The City of Shoreline and Shoreline Chamber of Commerce are partnering to collect information about local small business impacts of the ongoing COVID-19 outbreak.

To see how "small business" is defined for your industry, see Table of Size Standards from the Small Business Administration (SBA).

We are tracking potential relief measures that may become available and would like to encourage all Shoreline businesses to provide information on the impacts to their business. The Small Business Administration is also still developing guidance for COVID-19. Please sign up to receive update notifications.

Bookmark this site COVID-19 Resources for Local Businesses for the latest updates on local impacts to small businesses

The SBA has enlisted the City and other local partners to collect and transmit information. In order to streamline information to the SBA, we ask that you work directly with us and not directly with the SBA during this process.

Please complete this form: Estimated Disaster Economic Injury Worksheet for Business and return to C19BizResponse@shorelinewa.gov which will help provide a more accurate assessment of impacts to small businesses. You are not required to fill out this form, but it will help the SBA in addressing relief for small businesses.

The City has been advised that new federal legislation and appropriations have opened up the possibility for small businesses to receive assistance for economic loss due to COVID-19. The SBA is still developing details around eligibility and administration of this assistance. However, some information from the traditional SBA Economic Injury Disaster Loan (EIDL) program will still apply for COVID-19.
 
If a small business has suffered substantial economic injury as a result of COVID-19, it may be eligible for financial assistance from the U.S. Small Business Administration. 

Small businesses and small agricultural cooperatives that have suffered substantial economic injury may be eligible for the SBA's Economic Injury Disaster Loan (EIDL) Program.
 
Substantial economic injury is the inability of a business to meet its obligations as they mature and to pay its ordinary and necessary operating expenses. 

An EIDL can help meet necessary financial obligations that a business could have met had the disaster not occurred. 

It provides relief from economic injury caused directly by the disaster and permits the business to maintain a reasonable working capital position during the period affected by the disaster.
 
The SBA provides EIDL assistance only to those businesses that the SBA determines are unable to obtain credit elsewhere.

  • The loan amount will be based on the business' actual economic injury and financial needs.
  • The interest rate on EIDLs cannot exceed 4% per year.
  • The term of the loans cannot exceed 30 years.
  • Terms and conditions will be determined by the business' ability to repay the loan.
  • Impacts to Working Families


The City of Shoreline is also tracking childcare centers that have closed and other closures that are impacting working families. We are asking for your help, please contact us with any information you can provide.

Contact us at C19BizResponse@shorelinewa.gov.

Please note: neither the City of Shoreline or the Shoreline Chamber of Commerce is directly distributing assistance to impacted businesses at this time. This is a request for information only. Resources that may be available to you will require action on your part to access. We will endeavor to continue to provide you with useful information as this emerging situation continues to evolve.



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