COVID-19 Financial Resources for Nonprofits

Financial resources and information for nonprofits and small businesses affected by COVID-19, updated March 26, 2020:

  • U.S. Small Business Administration disaster loan assistance for private nonprofits and small businesses. Loans of up to $2m to address temporary loss of revenue.  May be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. 3.75% interest rate for small businesses, 2.75% interest rate for nonprofits. Repayment period of up to 30 years.
  • The City of Seattle Small Business Stabilization Fund has a total of $2.5m available for emergency grants of up to $10k to qualifying small businesses.  Application deadline is 3/25/20.
  • Seattle Foundation COVID-19 Response Fund. As of 3/26/2020, this fund holds $14.3m.  “In order to move resources quickly and not further burden organizations on the frontlines of the pandemic, we are not hosting a formal application process at this time. Funds will be released on a rolling basis as fundraising continues throughout the outbreak and recovery phases of the crisis, making it possible to move resources quickly and adapt to evolving needs in subsequent funding phases.”
  • King County’s Office of Equity and Social Justice will have $1m available for grants of up to $25k for engagement and outreach to populations on the frontline of the coronavirus outbreak.  Applications are being accepted on a rolling basis.
  • 4Culture, the King County arts agency, is establishing a $1m Cultural Relief Fund.  First round of applications will be accepted April 1 – May 15.  15-30 minute application, with notification in 10 business days.  4Culture is also extending and indefinitely postponing existing grant deadlines.
  • The federal Families First Coronavirus Response Act, signed into law on March 18, 2020, outlines new requirements for paid sick time, protected paid family time, and insurance coverage for private-sector employees with fewer than 500 employees.  Employer costs will be offset by tax credits.
  • The federal income tax filing deadline for individuals and C corporations has been extended to July 15, 2020.
  • The Washington Department of Revenue:
    • Will be able to waive interest, fees, late payment/due date penalties; and extend due dates for a broad range of business taxes.
    • Has extended the deadline for annual tax return filers from April 15 to May 15, 2020.
  • The Washington Utilities And Transportation Commission will be suspending certain restrictions to expand the use of energy bill assistance funds to unemployed customers.
  • Up to $5m of the Governor’s Strategic Reserve Funds will be made available as small grants to small businesses via the Washington Department of Commerce – application details TBD.
  • If you’re in the City of Seattle, consider taking the Seattle Office of Economic Development’s 10-minute survey on the impact of COVID-19 on your nonprofit to help them development economic supports: https://www.seattle.gov/office-of-economic-development/small-business
  • Navigating the Financial Impact of the COVID-19 Crisis, sponsored by the Nonprofit Association of Oregon.  Three sessions: March 26, April 2, and April 8, 2020.

Current Statistical Data: Covid19stats.live (formerly ncov2019.live). An extremely useful site created by King County’s own Avi Schiffman, a 17-year-old high school junior from Mercer Island. Democracy Now article; Mercer Island Reporter article.