Updated (3/2/21): To provide the highest level of assistance possible, Columbia Credit Union has partnered with a long-standing and respected SBA small business lending firm, The Loan Source Inc. (“Loan Source”), to help borrowers secure PPP loan funding fast, while making the forgiveness process seamless.
APPLYING FOR A PPP LOAN:
Starting Wednesday, February 24, through Tuesday, March 9, the SBA will implement a 14-Day Exclusivity Period and will only accept applications for new PPP loans from businesses with fewer than 20 employees. This new announcement will allow us to serve more small businesses, particularly those owned by women and minorities. Although we will continue to accept new PPP applications from larger businesses, they will not be submitted to the SBA until after the 14-Day Exclusivity Period. To get started or find more information for businesses with fewer or more than 20 employees, including sole proprietors, use the tiles under “Paycheck Protection Program Resources” below.
LOAN FORGIVENESS:
The Loan Source is currently accepting forgiveness applications for first round PPP loans of $150,000 or less. Forgiveness links are provided below.
Please check back frequently for updates. Additional resources to help you wrap your head around the loan forgiveness process can be found below.
For questions about loan forgiveness, please use The Loan Source’s chat feature or email support@theloansource.com.
Other questions about first round funding, second round funding, or loan forgiveness? Check out our PPP FAQs and the SBA website, or send us your questions at SBAPaycheckProtectionProgram@ColumbiaCU.org.
Click to apply with the password COLUMB.
Click to apply for loans under $150,000.
Click to visit our loan forgiveness portal.
Click to send us an email directly.
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.
New Grants for Clark County Businesses
Find information and apply for grants throughout Clark County for small businesses and nonprofits 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.
The IRS is issuing a 3rd round of Economic Impact Payments (EIP).
*Use the IRS’s Get My Payment tool to check the status of your payment now.
What you need to know:
The American Rescue Plan authorizes $1,400 Economic Impact Payments for each eligible person ($2,800 for couples), plus an additional $1,400 for each dependent. As with the other payments, these will be reduced – or eliminated – for people with incomes above certain amounts. See if you qualify here.
Direct Deposits vs Debit Cards:
If the IRS does not already have your direct deposit information, you may receive an EIP debit card. Once activated, the card can be used anywhere Visa Debit Cards are accepted, or you can transfer the funds from an EIP Card to your Columbia CU account at no cost online.
Learn how to transfer your EIP Card balance to your bank account here.
Read about pandemic scams related to Economic Impact Payments and more here.
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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