SBA Seattle District Stakeholder Newsletter February, 2024

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Seattle District Office

= Serving Washington state and northern Idaho=

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Stakeholder Newsletter

February 2024

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Please cont= act Neil Subhash in the SBA Seattle District Office with any questions: neil.subhash@sba.gov =

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Beto Yarce Selected a= s Regional Administrator

In January, President Biden appointed Beto&= nbsp;Yarce to serve as SBA Regional Administrator for the Pacific Northwest= , overseeing the agency's programs, offices and operations in Alaska, Idaho, Oregon and Washington. Yarce brings extensive experience= as an entrepreneur, nonprofit leader, and small business advocate to the p= osition. Originally fro= m Mexico, Yarce moved in 2003 to Seattle, Washington where he launched a business and became involved in the local e= ntrepreneurial and immigrant services communities. He went on to lead Ventures, a nonprofit organization working to alleviate poverty through small busine= ss ownership. <= br>
Read the full announcement from SBA Administrator Isabel Casillas Guzman to learn= more. 

=3D"https://www.eventbrite.com/cc/wednesday-webinars-with-sba-seattle-distr= ict-1484459?utm-campaign=3Dsocial&utm-content=3Dcreatorshare&utm-me= dium=3Ddiscovery&utm-term=3Dodclsxcollection&utm-source=3Dcp&af= f=3Descb">

SBA Introduces 60-Day= Goodwill Exception Period, Increased Outreach to Borrowers=

For COVID EI= DL and PPP borrowers with loans under $100,000, the SBA has implemented a 6= 0-day goodwill exception period starting January 1 and lasting through March 3, 2024, to help bring them into compliance and avoid the = repercussions of defaulting on a government loan. During this period, the SBA will build on its extensive outreach to a= ffected businesses to ensure that PPP borrowers know how to apply for forgi= veness and COVID EIDL borrowers are aware of all repayment options — = including the opportunity for hardship repayment plans. Further, the SBA will refrain from escalating collections activitie= s until after the goodwill exemption period. Re= ad the for more information.

 

If = PPP borrowers are unsure if their loan has been forgiven, t= hey can check by logging in to the MySBA loan portal. Once logge= d in, borrowers will see all of their SBA loans, including PPP loans, and t= he status of each loan. For PPP loans, the status will show "paid in full" if the PPP loan has been forgiven.

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Assistance - PPP Forgiveness Call Center

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All = COVID EIDL borrowers must repay their loans, but the SBA ha= s programs to help – including expanded hardship accommodation plans.= COVID EIDL hardship accommodation plans significantly lower monthly payments – sometimes as low as $25 per month – f= or six months, and then payments gradually increase over a multi-year perio= d.

 

More informa= tion for COVID EIDL hardship accommodation plans is available on the SBA website. Many borro= wers can apply for a hardship accommodation plan directly through the = MySBA loan portal. Once logge= d in, COVID EIDL borrowers can click "Loan Summaries" in the to= olbar, then "Hardship Accommodation Plan" in the bottom right corner, and finally "Learn More and Enroll."=

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Assistance - = COVID EIDL Customer Service 

833-853-5638

=3D"mailto:COVIDEIDLServicing@sba.gov">COVIDEIDLServicing@sba.gov<= /span>

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=3D"https://www.americasseedfund.us/accelerators">

Stag= e One Competition Open for Applications Now
The SBA recently announced the opening of the 2024 Growth Acc= elerator Fund Competition (GAFC), offering a total of $50,000 to $200,= 000 in awards to organizations seeking to foster an innovation support ecosystem to advance small business research and de= velopment from ideas to the commercial market. The Stage One competiti= on opened on January 8, 2024 for a 5-week window, closing February 16,= 2024.

Stage One offers $50,000 in cash prizes awarded to organizations for ecosystem-building activities, including recruitment of new partners, = and strengthening existing alliances among stakeholders (including public, = private, non-profit, and academic partners). Contestants work collaborative= ly with chosen partners to bring additional resources, deepen network connections, and develop strategies t= o support STEM/R&D-focused entrepreneurs and small businesses. SBA welc= omes Stage One submissions from a broad range of organizations with a colla= borative vision to nurture a national ecosystem for equitable access to entrepreneurship.

Informational Webinars

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January 16, 2024 | 2pm (EST)
GAFC Pre-Application Webinar: Goals, Rules, and How to = Apply
Watch the Recording
 
January 31, 2024 | 2pm (EST)
GAFC Theme Explanation Webinar: A Deep Dive into the Te= ch Themes with Experts from Relevant Federal Agencies
Click Here to Reg= ister
 

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=3D"https://www.eventbrite.com/cc/wednesday-webinars-with-sba-seattle-distr= ict-1484459?utm-campaign=3Dsocial&utm-content=3Dcreatorshare&utm-me= dium=3Ddiscovery&utm-term=3Dodclsxcollection&utm-source=3Dcp&af= f=3Descb">

 

Deeper Dive on SBA Pr= ograms and Resources for Small Businesses
Wednesday Webinars are free, weekly trainings to introduce current or prosp= ective small business owners to the wide variety of programs and resou= rces hosted by the SBA. Please consider attending these if you are interest= ed in learning more about these programs and help spread the word! 

 

Each week, the Seattle District team will feature a new= topic including introductions to our technical assistance Resource Partners, details of SBA loan programs, federal contracting pro= grams and certifications, and resources for small business exporting.
 

=3D"https://www.eventbrite.com/cc/wednesday-webinars-with-sba-seattle-distr= ict-1484459?utm-campaign=3Dsocial&utm-content=3Dcreatorshare&utm-me= dium=3Ddiscovery&utm-term=3Dodclsxcollection&utm-source=3Dcp&af= f=3Descb">View the 2024 Calendar

 

Scheduled for Febr= uary 2024

 

Wednesday, February&n= bsp;14 | Loan Programs: Funding for Working Capit= al
Join staff from the SBA Seattle District office to learn ho= w the SBA 7(a) Loan Guaranty Program can be used to meet your company's wor= king capital needs. More info
 
Wednesday, February 21 | Contracting: Joint Ventures Program
Joint ventures allow certain businesses to compete together for government = contracts reserved for small businesses. Join us this week to learn more ab= out this program, benefits, and how to create a joint-venture to pursue new= opportunities. More info
 
Wednesday, February 28 | Are You Ready to Export? Meet the Export Fina= nce Center of Washington
The Export Finance Center of Washington (EFACW) provides consultation servi= ces in payment risk mitigation and export finance including credit insuranc= e, letters of credit, foreign exchange, Export-Import Bank and Small Busine= ss Administration export finance guaranty programs. EFACW offers businesses information on how to finance a= nd get paid for their export sales and acts as a matchmaker for their = banking relationship. More info<= /o:p>

 

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Follow us on LinkedIn!<= span style=3D"font-size:10.5pt;font-family:"Source Sans Pro",sans= -serif">
 for more news and updateswww.linkedin.com/showcase/sbaseattle

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SBA Seattle District Office

2401 4th Ave., Suite 450
Seattle, WA 98121
Phone:  206-553-7310

Spokane Branch Office

801 W. Riverside Ave., Suite 444
Spokane, WA 99201
Phone:  509-353-2800

 

www.sba.gov/wa

 

3D"facebook"3D"twitter"3D"youtube"3D"linkedin"3D"in=

 

 

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