Small Business Flex Fund to help struggling businesses with loans | News from the three cities

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TRI-CITIES, WA – The Tri-Cities Hispanic Chamber of Commerce will help struggling businesses apply for the Small Business Flex Fund program, which will provide loans to the Washington State Department of Commerce.

“So many businesses we know of, especially minority-owned ones, have been really hit by the pandemic and could barely keep their store open,” said Christian Moreno, financial adviser at TCHCC.

To be eligible, your business must have fewer than 50 employees, less than $3 million in annual revenue, have had your business in operation one year prior to applying, and must prove the direct impact of COVID on your business.

To apply, you can call the Tri-Cities Hispanic Chamber of Commerce at 509-542-0933.

They will direct you to complete the pre-application. If you qualify, you will be matched with a loan officer for the specific loan you are assigned to. Your loan officer will then contact you by email and ask for certain documents, including your 2021 tax returns, your bank statements for the last 6 months, your ITIN or social security, and which owner owns 20% or more of the business.

You will also need to provide a brief description of how COVID has affected the business. Most importantly, you will need to provide a business plan, which the Tri-Cities Hispanic Chamber of Commerce can also help draft.

The loan has an interest rate of 4% for a term of 60 months.

You can use the money for marketing purposes, paying rent and payroll.

Here are the dates and links to their live seminar on more loan application information:

March 24and

City of Benton

2:30-3:30 p.m.

609 9and Benton City Street, 99320 WA

March 25and

Online webinar

2:30-3:30 p.m.

https://us06web.zoom.us/j/81116935549?pwd=MnRZWDJZbWdBc3ljTEpyK20wMXB2dz09

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March 29and

walla walla

5:30-6:30 p.m.

1200 SE 12and Street, College Place 9924, WA

March 30and

Not co

1320 W Hopkins St. Pasco, Wa 99301

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