Updated 8/1/20: In order for us to process and submit all completed Paycheck Protection Program applications in time for the SBA deadline of August 8, 2020, we are no longer accepting PPP requests at this time.
LOAN FORGIVENESS: If your PPP loan has already been funded, we know you’re interested in the loan forgiveness process and required documentation. We’re currently working to provide a streamlined process that will support your PPP loan application, which will be available in the coming weeks. Once the forgiveness process is complete, we will provide additional information here to complete your forgiveness request. In the meantime, to help borrowers prepare, see the FAQs below and a useful link to the US Treasury’s PPP Forgiveness Application and Worksheet. We encourage borrowers to work with their trusted tax and legal advisors. Borrowers have up to 24 weeks after their loan was disbursed to apply for forgiveness, and should anticipate an email from Columbia CU providing a specific link and instructions to apply. Because this is a complex program, changes may occur as the SBA continues to provide updates on the forgiveness process. As they happen, you’ll see updates here.
If your business needs assistance, additional resources can be found below, including information on the SBA’s Economic Injury Disaster Loan.
We realize that many businesses are now facing uncertain times. At Columbia Credit Union, we are here to help our members, their businesses, and our community. If your business is facing financial difficulties, please contact your relationship manager to discuss your specific business needs, or reach out to us to discuss:
Options for payment deferrals on small business loans
New loans or extending existing credit
The Small Business Administration is offering an emergency loan program for small businesses in Washington and Oregon. The Economic Injury Disaster Loan (EIDL) is designed to keep small businesses and self-employed people afloat in the immediate aftermath of the COVID-19 pandemic.
Apply with the Small Business Administration and view the EIDL Fact Sheet to learn more.
State agencies have been working with federal agencies, employers, and workers to support businesses and workers affected by COVID-19. We’ve laid out some resources that businesses and their employees can look to for help.
Child Care Partnership Grant
Washington nonprofit organizations, federally recognized tribes, and local government entities, including school and educational service districts, can now apply for grants to help stabilize and expand child care capacity. Learn more and apply with the WA Department of Commerce.
Resources for Reopening Restaurants
To assist restaurants in relaunching, the Washington Hospitality Association (WHA) has developed a vast array of resources here.
Personal Protective Equipment (PPE) Sources
You can visit the Association of Washington Business (AWB) Rebound and Recovery web page where AWB PPE Connect links businesses with manufacturers who supply PPE. Companies that manufacture PPE can request to be added to the supplier list by completing the AWB PPE Connect request form.
COVID-19 Impact Webinar for Small Businesses Announced
The Washington State Small Business Liaison Team is hosting a free webinar about the state responses, resources and other impacts affecting small businesses during the pandemic. The webinar is available for free online on multiple dates now through July. Register for the webinar here.
The Employment Security Department has information for employees and employers about possible benefits such as Paid Family and Medical Leave, unemployment benefits and SharedWork.
The Department of Labor & Industries oversees the state’s paid sick leave law, the workers’ compensation program and workplace safety issues. The agency has FAQs on these and other topics related to coronavirus.
The federal Centers for Disease Control and Prevention has recommendations to help employers keep their workers safe with sick leave policies, cleaning routines and more.
The state Department of Revenue has information on relief for taxpayers, including extensions for filing and paying tax returns.
The IRS posted filing and payment deadline Q&As to address the federal filing and payment extension to July 15 and the additional extension to Oct. 15, first quarter estimated tax payments, IRAs and HSAs.
Insurance Commissioner Mike Kreidler urges all insurers doing business in Washington to immediately extend automobile insurance coverage for personal delivery drivers to aid people temporarily assigned this duty during the coronavirus pandemic and state of emergency.
In addition, the Office of the Insurance Commissioner has information about insurance coverage businesses need to protect themselves from potential losses.
*Use the IRS’s Get My Payment tool to check the status of your payment now.
**Non-filers can use this IRS Direct Deposit tool.
Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive a stimulus check of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child. Eligible retirees and recipients of Social Security, Railroad Retirement, disability or veterans’ benefits, as well as taxpayers who do not make enough money to normally have to file a tax return will also receive a payment.
For more details read the IRS Economic Impact Payments FAQ.
How to get paid:
If you filed your taxes in 2019 or 2018 no action is required. The IRS will use your tax return information to calculate the payment amount, and Direct Deposit that payment into the same banking account reflected on the return filed. If no banking information is available, a check will be mailed. Use the IRS’s Get My Payment tool to check the status of your payment.
If you did not file a tax return in 2019 or 2018 and do not receive Social Security, disability, or Railroad Retirement benefits, use the IRS’s tool to register for a payment.
Learn how to find your account number to set up Direct Deposit.
If you need or supply Personal Protective Equipment (PPE) finished goods, materials, or manufacturing capability, visit the Business Oregon’s Supply Connector web page, a collaborative project to connect businesses with PPE manufacturers and suppliers.
The Small Business Administration is providing guidance, loan assistance, and debt relief options for impacted businesses nationwide.
The Business Oregon Coronavirus (COVID-19) Resources for Businesses page can also provide more information on how Oregon businesses can receive aid.
Manage your finances when and where it’s most convenient to you.
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