Relief program for small businesses opens Monday

By: Chloe LeValley - May 10, 2020
Source: Walla Walla Union-Bulletin

The Walla Walla Valley Small Business Relief Fund will accept applications starting Monday for about $567,000 in grants and loans.

Sparked from Walla Walla’s Coronavirus Aid, Relief and Economic Security Act dollars, the programs are expected to provide relief to small businesses impacted by the coronavirus pandemic.

The application period opens Monday at 9 a.m. and closes Wednesday at 5 p.m.

About $117,000 in grants administered by Mercy Corps Northwest are available in increments ranging from $1,000 to $10,000 to businesses with 10 employees or fewer. Those that have been operating less than a year are eligible to apply.

Craft3 will administer a total of $450,000 of business resilience loans, ranging $10,000-$50,000.

Businesses that have been open two years or more, can show a profit for 2019 and have a credit score of 640 or higher are eligible

 

Loan applications will be reviewed by a committee made of officials from the city, Walla Walla County, Port of Walla Walla and other agencies.

Only businesses referred by the local review committee will be allowed to apply through Craft3, and, due to credit requirements, not every referred business will be approved for a loan, officials say.

The program is made possible by a grant from the city of Walla Walla’s Community Development Block Grant program, with additional funding coming from Walla Walla County, according to a release.

Interested businesses can find the applications on the City of Walla Walla’s website at wallawallawa.gov/SBRP.

Application materials are available in both English and Spanish.