Emergency Small Business Relief Loan Program
The Pierce County Council approved to expanded their small business relief package to include ALL businesses in Pierce County. Previously this loan was only available to businesses in unincorporated areas of Pierce County. Upon approval, businesses would be eligible for a 12 month, no interest loan up to $20,000.
In order to qualify, businesses must meet the following criteria:
- Have 20 or fewer employees (including business owner)
- Be in operation for one or more years (businesses that have had a change in ownership in the past 12 months may be eligible)
- Demonstrate at least a 25% reduction in revenues attributable to the COVID-19 pandemic
- Have been in operation for one or more years (businesses that have had a change in ownership in the past 12 months may be eligible)
In summary, businesses could receive $1000 per employee, up to $20,000 total. Loan amounts up to $20,000 will be awarded, based on number of employees. Additionally, loans will be offered to qualified applicants at no interest and no payments for 12 months.
Applications will be accepted on a first come, first served basis, subject to available funds, so apply as soon as possible.