Editor's note: This story was updated April 24 to reflect the addition of new state and federal funds to support small business during the COVID-19 crisis.
The Tri-Cities Hispanic Chamber of Commerce is helping minority and underrepresented businesses apply for emergency assistance after securing a contract worth up to $30,000 from the Washington Department of Commerce.
The award from the newly created Small Business Resiliency Assistance Program allowed the chamber of commerce to keep its two fulltime employees and add a third bilingual employee to help with outreach and technical support.
“It helped us keep staff,” said Martín Valadez, chamber president.
The state created the resilience program to help small businesses that face challenges accessing public programs.
The chamber will help businesses understand the programs and complete the paperwork to tap into the grant and loan programs being set up to prop up the economy during the coronavirus pandemic.
The Hispanic Chamber in Pasco is one of 11 selected.
Valadez said the local chamber received several calls after he added a message on the state website inviting Spanish speakers to call with questions. It helps when it can and refers out-of-area callers to their local entities.
The Hispanic chamber focused on linking small business to the Working Washington Small Business Emergency Grant program, a state program funded with $5 million from the Governor's Strategic Reserve Fund. The state added another $5 million under crusing demand.
The Tri-City Development Council is processing local applications, but the chamber helped clients with paperwork.
The state program is exhausted. About 700 Mid-Columbia businesses applied for the $200,000 to $250,000 that will be available locally, TRIDEC said.
Valadez said the chamber is also helping business owners navigate the CARES Act, the $2.2 trillion spending package with $349 billion in forgivable loans through the Paycheck Protection Program.
The Small Business Administration guarantees the loans, which can be waived if recipients keep their employees.
The Paycheck Protection Program ran out of money as businesses sidelined by stay-home orders request help.
The SBA said April 15 the program hit its cap and the agency will not issue new approvals until funding is replenished.
Congress subsequently added an additional $310 billion to the program.
The Hispanic chamber is helping all disadvantaged businesses regardless of their membership status, Valadez said.
Helping businesses in a crisis can show the value of membership, he said.
“I will help give us more visibility.”
In addition to helping businesses apply for COVID-19 funding, the Hispanic Chamber is coaching stressed out business owners on ways to pivot-to money-making activities, such as mask-making.
Contact the Tri-Cities Hispanic Chamber of Commerce at 509-542-0933.