Business Resources: See below for COVID-19 pandemic business support opportunites
The Thurston Economic Development Council Center for Business and Innovation is hosting a Business Information Hotline Monday-Friday 9:30am-3:30pm, the number is 1-888-821-6652. Our goal is to understand all the resources available to Businesses and able to assist businesses with the information including SBA Funding and State Grants. The Hotline is funded by the City of Olympia but serves all of Thurston County.
Virtual STEDI meeting during our normal meeting date and time, Friday, April 17th 8am-9:30am. George Sharp has arranged for Sean Moore, the Program Manager for the Washington Center for Women in Business to join us on the call. We also will ask for an update from each community and partner organizations. Please let me know if you plan to attend and if you would like something on the agenda. I will send the link to the meeting as we get closer to the meeting date.
FYI on Weekly Webinar: Declassified: Thurston Business Leaders Share Information, Resources and Steps to Recovery after COVID-19
Thurston Chamber and Thurston EDC Partner to offer Virtual Talk Show for Small Business Owners & Open to General Public
Thurston EDC Executive Director, Michael Cade and Thurston Chamber CEO/President, David Schaffert along with various guests will provide up-to-date information on business resources, state, federal and local actions, COVID-19 status and advocacy efforts for our community. Topics will include “SBA Updates and Loan Opportunities for Bridging Cashflow Challenges”, “Supporting Employees During Layoffs” What: Virtual Talk Show For Small Business Owners Impacted by COVID-19 Crisis When: Every Thursday at 2:15 p.m. Learn more here: https://thurstonedc.com/declassified/
Please find below information about upcoming programs and note the Scholarships for STEDI community Business Start-Ups for B.E.S.T Program.
ScaleUp Mastermind April 8th 4:30-5:30 Held virtually via Zoom @ https://zoom.us/j/458224909 We are opening our ScaleUp Mastermind class on April 8th to all interested businesses in Thurston County free of charge. Daryl Murrow will be leading this collaborative meeting to discuss tangible solutions that businesses can enact right now to increase business amid the Covid-19 crisis.
Build Your Market-Surviving the Coronavirus Pandemic Fridays April 17th-May 15th 8:30-Noon Apply @ scaleupthurston.org Learn effective strategies for attracting more clients and increasing your annual revenue during these challenging times. You want to generate more revenue from your business, but you are not quite sure the best way to go about it. Even with these uncertain times, there are opportunities available, but which are the right ones for your business? You don’t want to waste time and money going down the wrong paths. Build Your Market – Surviving the Coronavirus Pandemic is designed to help you explore and identify opportunities that can accelerate your business growth, and to make strategic decisions to optimize the selected options. You’ll learn how to develop a strong competitive advantage that will help you stand out from your competition. You’ll also learn how to create strategic relationships and improve your product or service offering based on market needs, so it will be attractive to your ideal target customers, and then develop your plan for implementing your marketing strategy to increase your sales. Don’t be complacent in your business; it’s time to Build Your Market! *ScaleUp is geared towards established businesses who have been in business for 2 or more years and have positive, pre-crisis revenue, of $100k gross/year. Partnerships with the cities of Lacey, Olympia will cover the costs for businesses within those city limits. Tumwater businesses are covered at 80%, and limited funding may be available for rural county communities.
Business Enterprise Startup Training (B.E.S.T.) Our next Business Enterprise Startup Training (B.E.S.T.) program will be kicking off May 19th. B.E.S.T. is a new business training program designed to guide a prospective business owner through a comprehensive review of their idea in order to help them formulate a business plan designed to succeed. It will take them through the basics of business structure, implementation, cash flow projections, pricing, and marketing. At the end of the course the graduate will have an actionable business plan that will help the business owner not only implement the idea but convey their business to community partners, such as local banks, investors, or key stakeholders.
Who should attend? This 8-week course is ideal for:
Those who want to get serious about starting their business
Those who need to write a business plan to qualify for financing or other purposes
Those who are looking for an approved Self-Employment Assistance Program (SEAP) provider through Washington State Employment Security Department (What’s SEAP?) (SEAP Approved Providers)
Those who are looking for an Eligible Training Provider (ETP) approved education program through CareerBridge
Those who would like to learn from a flexible location (course is live but webinar based, so you may attend from home, work, coffee shops, or anywhere!)
*We will have a limited number of scholarships for qualified students residing in rural Thurston communities. If interested please return a completed scholarship application by May 8th, 2020.
The Chamber Board of Directors are actively working with the City of Tenino and the Thurston Economic Development Council to know and understand all the resources available to Businesses, Employers, Employees, Non-profits and our Citizens.
They also have a Hotline you can call about Business Resources 1-888-821-6652 open 9:30am-3:30pm Monday-Friday and be placed on their notification list for updated information for business resources. The Washington State Department of Commerce will be releasing information next week about their grant program for small businesses.
Chamber member Maria Williams of Tenino Coffee Bistro has created a Virtual Auction Fundraiser for Tenino area Businesses. Those Tenino businesses who complete the Injury Impact Form will be considered to be assisted with funding from the Auction. Details are still being worked out on how the criteria for funding will work. https://www.facebook.com/groups/308097493501159/ is the link to the Auction. It will be live, tonight, Friday, April 3 at 7:00pm, you need to join the group to bid.
Please see the information below about the SBA Disaster Loan and PPP. The SBA Disaster Loan Application process has been streamlined, is more user friendly and requires less financial documentation. Here is the link for that application: https://covid19relief.sba.gov/#/ · When qualified businesses apply for the loan, they receive $10,000 that does not need to be repaid. The $10,000 will be disbursed directly to your bank account within three business days after the application has been accepted. · You will then hear back from the SBA in regards to your approval or rejection for the disaster loan. · If you are not approved you can still keep the $10,000. · If you are approved for a loan the $10,000 will be deducted from any repayment amount. Repayment for disaster loans begins 1 year after the loan is disbursed. · IMPORTANT NOTE: Even if you have already completed the SBA Disaster Loan Application before 3/31 you must complete the application again in its new streamlined format to receive the immediate $10,000 disbursement that does not need to be repaid. The disaster loan requirements have changed and you do not need any collateral to be approved for the loan. Again, the link to the new SBA Disaster Loan Application is: https://covid19relief.sba.gov/#/ The Paycheck Protection Program (PPP) will be available for small businesses beginning Friday, April 3rd and for Sole Proprietors it will be available as of April 10th. Banks will not be able to process loan applications or give any information regarding the loan process until April 3rd. · This is a loan to help you with your payroll so you can keep paying your employees. You will apply for this loan directly from an SBA approved lender. The SBA is fast tracking SBA approval for many lenders so it is likely your current bank or credit union will be able to process this loan. You can apply for both the SBA Disaster Loan and PPP loan as long as you use the money for different business expenses. · The PPP is intended to cover 8 weeks of payroll cost. · If it is shown that you used the loan to retain employees at their current salary levels within the 8 weeks then you can apply to have the loan forgiven in its entirety. · You can use this loan to pay for your lease and utilities. · You would begin repayment on this loan 6 months after disbursement. · For more information please visit: https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp This link is a lender list https://www.sba.gov/sites/default/files/articles/Lender_Listing_4.17.pdf?fbclid=IwAR3W65q3zKxq1emfRM_e_y4na8Od630AHq07eta83juWIEnjJ-NBW1ybX2k
For information about Unemployment visit: https://esd.wa.gov/newsroom/covid-19 be sure to go and sign up for their alerts to know any changes happening. They are being overwhelmed with calls and their electronic intake system is needing to be rebuilt. Please know that if you file and are approved they are backdating 4 weeks.
We are developing plans to help promote Tenino when we are all able to reopen for business and we would like to know the following information so that we can share it with the community via our website and social media channels. Name of Business: Hours of Operation: If you are open currently and or when you will reopen: Website: Facebook page: Phone number: Description you would like to share with the community:
STEDI is a recently-formed group that is committed to ensure that business owners in south Thurston County have access to resources. A number of organizations are involved, including Thurston Regional Planning Council, the Olympia Lacey Tumwater Visitor & Convention Bureau, local municipalities, Washington State University TeleWork program, Yelm Chamber of Commerce, Tenino Chamber of Commerce and Thurston EDC.
STEDI Meets the Third Friday of Every Month 8am-9:30am on the following rotating schedule: Rainier, Yelm, Bucoda, Rochester, Tenino
Please let George Sharp, Thurston EDC Rural Program Manager, know if you have any additions to the agenda, or if you have any events you would like shared with the STEDI team.
SAVE THE DATES - 2020 STEDI Meeting Dates and Locations March 20- Bucoda- April 17- Rochester- May 15- Tenino- June 19- Rainier- July 17- Yelm- August 21- Bucoda- September 18- Rochester- October 16- Tenino- November 20- Rainier- December 18-Yelm-
The Thurston EDC works to connect local businesses with experts and resources to help them stay competitive through its Business Resource Center – providing counseling, mentoring, and technical assistance to new and existing business owners.
The BRC hosts Mobile BRC presentations in South Thurston County once a month. Please contact us for info about upcoming events or visit the Events tab on our website to learn more.