TRI-CITIES, WA – The Tri-Cities Hispanic Chamber of Commerce will help struggling businesses apply for the Small Business Flex Fund program, which will give loans from the Washington State Department of Commerce.
“So many business we know, especially minority-owned, were really affected by the pandemic and could barely keep their store open,” said Christian Moreno, Financial Adviser with TCHCC.
In order to qualify, your business must have less than 50 employees, less than an annual revenue of 3-million, need to have had your business in operation a year prior to applying, and must prove how COVID directly impacted your business.
To apply, you can call the Tri-Cities Hispanic Chamber of Commerce at 509-542-0933.
They will direct you to fill out the pre-application. If you qualify, you will be matched with a loan officer for the specific loan that you are assigned for. Your loan officer will then contact you via email and ask you for certain documents including your 2021 tax returns, bank statements of past 6 months, ITIN or social security, and which owner owns 20% or more of the business.
You’ll also need to provide a brief description of how COVID affected 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 a 4% interest rate for a 60-month term length.
You can use the money for marketing purposes, paying for rent, and for payroll.
The following are dates and links to their live seminar on more information for the loan application:
March 24th
Benton City
2:30PM-3:30PM
609 9th Street Benton City, 99320 WA
March 25th
Online Webinar
2:30PM-3:30PM
https://us06web.zoom.us/j/81116935549?pwd=MnRZWDJZbWdBc3ljTEpyK20wMXB2dz09
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March 29th
Walla Walla
5:30PM-6:30PM
1200 SE 12th Street, College Place 9924, WA
March 30th
Pasco
1320 W Hopkins St. Pasco, Wa 99301
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