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Taking Care of Business...From Home

In accordance with the Governor’s 'Stay Home, Stay Healthy' directive the Tri County Economic Development District (TEDD) offices will be closed until further notice. #TeamTEDD will be working from home, and is standing by to provide assistance to local businesses.

According to TEDD Executive Director, Jeff Koffel, “TEDD is working to assess the massive COVID-19 economic impacts in our region, identify resources, and provide information to our community. We are only at the beginning of this crisis and we should expect and be prepared for the situation to worsen before we see improvement. Our immediate focus to provide what support and relief we can to our regional businesses.”

TEDD Microenterprise Opportunity Grants

Tri County Economic Development District (TEDD) is pleased to announce that local small businesses will be able to apply for a Microenterprise Opportunity Grant of up to $5000.00 beginning Monday, May 18. The Microenterprise Opportunity Grant funds are available for business owners that have been impacted by COVID-19, and are meant to help stabilize small businesses in our community.

When the Community Development Block Grant (CDBG) funds from the Washington State Department of Commerce became available to Stevens County, the Stevens County Commissioners felt the best use of these dollars would be to provide some relief to local small businesses. Distribution of the funds will be in the form of Microenterprise Opportunity Grants, administered by Tri County Economic Development District. TEDD Executive Director, Jeff Koffel, commented, “These grants will bring some much needed relief to small businesses in our region during this challenging time.”

Qualifying businesses located in Ferry, Stevens, Pend Oreille, and Lincoln Counties are all eligible to apply. To request assistance you must meet the program requirements, submit required documentation, on or before May 29, 2020. Funds are available on a limited basis. Submitting an application is not a guarantee of assistance. For your privacy, information collected will remain confidential, used only to meet federal and state record keeping requirements, and withheld as applicable from disclosure. Applications will be available here beginning Monday, May 18th at 9:00 a.m.

Business eligibility:

  • The business owner must have a low- or moderate-income(≤80% of the Area Median Income).
 

Area Median Income – Ferry, Stevens, Pend Oreille, and Lincoln Counties  

# people in household  

1  

2  

3  

4  

5  

6  

7  

8  

80% Median

$36,050  

$41,200  

$46,350  

$51,540  

$55,600  

$59,700  

$63,800  

$67,950  

  • The business must have five or fewer employees.
  • The business must have a physical establishment.
  • The business must agree to share financials.
  • The business must be legal under federal requirements.
  • The business must have been in operation for over one year.
  • The business must be able to demonstrate a loss of income due to COVID-19.
  • Funds may only be used for short term operating expenses.

 

Please take a moment & let your voice be heard!

Regional Small Business Needs Survey

We're creating an online resource with the programs & services <i>you </i>need. Your responses to our survey will help us focus on curating & creating the content you need for a successful recovery. Beyond that horizon, your responses will also show us how to strengthen small businesses in the region and become more resilient to any business disruptions.

The survey should take about 15 minutes to complete.

Deferred Loan Payments

The TEDD's Executive Committee signed a resolution effective March 19th, authorizing the Executive Director to offer three months of deferred loan payments to all small businesses currently served by the Rural Opportunities Loan Fund, and allows all late fees and penalties to be waived for all regular payments due April 1, 2020- June 30, 2020.

For more information please contact the TEDD Loan Officer, Cassindra Maravilla, at (509) 684-4571 or e-mail cmaravilla@teddonline.com.

Estimated Disaster Economic Injury Worksheet for Business

To better help Tri County Economic Development District document the economic impact of COVID-19, area businesses are encouraged to complete and submit this simple form. This form is not required, but it helps to provide clarifying information that supports the documentation the state is required to submit to the U.S. Small Business Administration when requesting an Economic Injury Disaster Loan Declaration.

Click the button below to take you to the online form.

SBA Economic Injury Disaster Loan Advance

NOW CLOSED

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available following a successful application. This loan advance will not have to be repaid.

For more information, please visit the U.S. Small Business Administration Economic Injury Disaster page.

Working Washington Small Business Emergency Grants

NOW CLOSED

As the Associate Development Organization (ADO) for Stevens and Ferry counties, Tri County Economic Development District is pleased to assist in administering Governor Inslee's new Working Washington Small Business Emergency Grant program to assist small businesses impacted by the COVID-19 outbreak. Up to $5 million in funds are provided through the Governor’s Strategic Reserve Fund and administered by the State Department of Commerce. The grant program will provide a limited number of businesses in Washington’s 39 counties with a grant up to $10,000.

GIS Planning Interactive COVID-19 Map