Loan and grant applications available in Walla Walla area

By on Sunday, May 10th, 2020 in Columbia Basin News

WALLA WALLA — The Walla Walla Small Business Relief Loan and Grant Program will begin accepting applications at 9 a.m. on Monday and will close at 5 p.m. on Wednesday. The program is made possible by a grant from the city of Walla Walla’s Community Development Block Grant program, with additional funding coming from Walla Walla County.

Applications are open to businesses in Walla Walla County that have been impacted by COVID-19. Interested businesses can find the applications on Walla Walla’s website. Application materials will be available in both English and Spanish.

The Walla Walla Small Business Relief Loan and Grant Program has two parts:

Small Business Emergency Grants will be administered by Mercy Corps Northwest. A link on the City website will redirect applicants to Mercy Corps Northwest’s online application. Grant amounts range from $1,000 to $10,000. Business owners must submit a photo ID and financial documents from 2019 along with their application. Grant funding available is $117,000. To be eligible, businesses must have 10 or fewer employees. Businesses in existence for less than one year are eligible.

Business Resilience Loans will be administered by Craft3. After submitting initial information on the city’s website, applicants will be screened for eligibility by a local review committee made up of officials from the city, Walla Walla County, Port of Walla Walla, and other local economic development agencies. Eligible applicants will be referred to Craft3 and invited to apply for a Business Resilience Loan. Only businesses referred by the local review committee will be underwritten by Craft3 and, due to credit requirements, not every referred business will be approved for a loan. Loan amounts range from $10,000 to $50,000. To be eligible, businesses must have been open for minimum of two years, show a profit in 2019, and have a credit score of 640 or higher. Funding available for loans totals $450,000. Due to limited funding, not every business that applies will receive assistance.

For more information on who is eligible to apply, please visit the program’s web page. Application questions should be sent to Jennifer Beckmeyer at jbeckmeyer@wallawallawa.gov.