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Helpful Resources for Businesses Impacted by COVID-19


As the COVID-19 outbreak continues to threaten a health crisis, legislators, businesses, and communities are forced to wrangle with a different kind of crisis - economic hardship and uncertainty. Many businesses have closed, both temporarily and permanently, and unemployment rates in Washington state and across the nation have skyrocketed. Governor Inslee’s latest stay-at-home order for Washington State announced on March 23rd took effect on the evening of March 25th and will last for a minimum of two weeks. 

The virus has put a halt on numerous businesses who are now facing unexpected cash flow challenges. As revenue streams dwindle or disappear, many businesses are left wondering how they’ll fare through the pandemic. Some cities have passed eviction freezes for the months ahead, but the question still remains on how they’ll make up for the rent when the freeze ends. As tenants struggle, landlords can expect to see their revenue impacted too. Some industries have been hit harder than others with the hospitality industry seeing the biggest impact.

“Restaurants are closing. They are hoping for a bailout, but many will not reopen. There will be a flood of second-generation restaurant listings in two months adding to the saturated market,” said Kelly Gaddis who specializes in retail and restaurant transactions. Conversations in a market that was booming just weeks prior have currently shifted to rent concessions or discounts.

“I've helped review several letters and emails to and from landlords and restaurant tenants. In the end, I'd recommend a landlord to keep that tenant, allow for abatement, work on percent rent until the numbers reach that of 2019 again and defer those costs to the end of the term. It's way cheaper than re-tenanting a dark restaurant space.” Kelly added, “You can help your favorite restaurant by buying gift cards. This gives them a cash injection at a time when they need it most.”

The hope is that economic recovery will resume promptly, but many are opting to wait before leasing more space or closing a sale. In any market, the best course of action is always to get informed and make a plan. In that spirit, we’ve compiled a list of available resources to help businesses weather the impact of the virus in our region and choose the best course of action for their business. We will continue to update the list as more information becomes available.

If you need assistance assessing the best commercial real estate plan for your situation, reach out to a member of our team. We’re here to help.

General Information

Tax Information




SBA Loans and CARES Act: Help for Businesses and Information

  • The SBA Debt Relief Program provides immediate relief to small businesses with non-disaster SBA loans. The SBA will cover all loan payments on these SBA loans, including principal, interest, and fees for six months. The SBA will also pay the principal and interest of new 7(a) loans issued prior to September 27, 2020.

Assistance Applying for a Loan

  • SCORE has business mentors available to help you navigate financial challenges and apply for loans.
  • The Washington Small Business Development Center is sponsored by the SBA to help small businesses. They provide one-on-one assistance, webinars and business resources.

Additional Resource

Additional Help for Businesses

Employee Support

Restaurant Industry

  • Big Table provides assistance, grants, and resources for restaurant industry employees
  • Golden Rule Charity provides grants for restaurant industry employees
  • Restaurants Care provides financial assistance for restaurant industry employees
  • Employment Development Department provides relevant information and rights of restaurants industry employees
  • The Plated Fund: Restaurant workers in King County who have been financially impacted by all the closures can apply for the $500 grant.

Important Business News

The information contained herein has been gathered from sources we deem reliable, we have no reason to doubt its accuracy, but we do not guarantee it. Please verify all information with your accountant before filing for a loan or grant.

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