The Washington State Small Business Flex Fund is a new loan program for the smallest Washington businesses and nonprofits affected by COVID-19. To be eligible to apply, small businesses and nonprofits must employ 50 or fewer full-time equivalent (FTE) employees, have annual revenues of less than $3 million per year, and experience a direct economic disruption as a result of COVID-19.
Should you apply? What should you prepare if you decide to apply?
This webinar will provide information about the loan program and application process and help you prepare to apply.
Some of the topics covered will be:
- The Flex Fund
- Loan Size
- Use of Funds
- Term & Interest
- Step by step in the pre-application portal and moving to the lender’s application
- What is and is not required to apply
- What will cause a declined application
- Key Parts of a Loan Application
- Short Form Business Plan
- Underwriting Tips
- What does a lender look for
Questions will be answered as time allows.
Presenters are Steve Burke and Jerry Petrick, Washington SBDC Certified Business Advisors. See more information about Steve Burke at https://wsbdc.org/south-seattle/ and Jerry Petrick at https://wsbdc.org/vancouver-2/