Small Businesses in Shoreline Can Now Apply for Relief Grants

GSBA – Washington’s LGBTQ and allied chamber of commerce – and Comcast Washington are now accepting applications from small businesses in Shoreline and Lake Forest Park seeking financial assistance. Eligible BIPOC, LGBTQ, and women-owned small businesses may apply starting today, March 15 through Friday, April 9, 2021 at theGSBA.org/ready-for-business. Selected businesses will receive $2,500 grants from the Ready for Business Fund formed by GSBA and Comcast.

The Ready for Business Fund has expanded to support small businesses statewide this year with a $50,000 investment from Comcast and GSBA continuing its role as the fund and program manager. The statewide expansion will also focus on providing support for qualifying small businesses located in rural areas of Washington who have been particularly impacted by the pandemic and lack of proximity to resources.

The grant application is short and easy to complete. Submissions will be reviewed by a committee of volunteers from around the state representing diverse backgrounds and skill sets. All grant recipients will receive wrap-around services from GSBA that include membership and business consulting. All grant applicants will be notified the week of April 26.

Grants from the fund are made possible by securing contributions from companies and individuals. In addition to contributions from Comcast, GSBA has received $61,000 in contributions from BECU, T-Mobile, Symetra, Microsoft, and Harborstone Credit Union and others.

The Ready for Business Fund was originally established in the summer of 2020 with a $100,000 investment from Comcast and GSBA as the fund and program manager. The fund distributed $2,500 cash grants to more than 60 BIPOC, LGBTQ, and women-owned small businesses in the Seattle metro area last year. Within a month of the Ready for Business Fund application being open last summer, GSBA received nearly 500 applications from local businesses.

Business owners who applied to the Ready for Business Fund last year reported a devastating impact from the economic downturn, including up to 85 percent annual revenue loss, laying-off employees, and significant loss of business. When asked how the grant money would support their businesses, the most common responses included necessities such as paying for rent, bills, payroll, and groceries.

The GSBA survey information from previous applicants underscores the economic challenges of 2020 and how the small business community in Washington continues to struggle.