Pierce County small businesses who have experienced significant economic injury as a direct result of the COVID-19 pandemic may apply for this loan program if they meet the below criteria. The Pierce County Council expanded this loan program on April 21, 2020 to include employers with up to 20 employees for businesses located anywhere in Pierce County, including incorporated cities.
Companies who have already received funding under this program are not eligible to re-apply.
Businesses applying for loans under this program must:
Be a business physically located anywhere in Pierce County including incorporated cities
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
The intent of this loan program is to help as many small businesses as possible. Therefore, there will only be one loan per business owner or owner group regardless of the number of business locations an ownership may have.
Loan amounts of $1,000 per employee will be awarded up to $20,000. Loans will be offered to qualified applicants at no interest and no payments for 12 months. Applications will be accepted until funds are exhausted.