Small businesses may now begin applying online for the Federal Way COVID-19 Small Business Assistance Grant Program.
The program, named “2 Victory/19,” was proposed by Mayor Jim Ferrell and approved by the Federal Way City Council to distribute federal CARES Act funds to local businesses.
Eligible businesses may apply over the next two weeks. Applications will be accepted until midnight, July 15, 2020. You can access the application link here, or on the City of Federal Way website. The link works best using an up-to-date browser such as Chrome, Firefox or Microsoft Edge.
There will be two rounds of grant disbursements available to Federal Way-based businesses with $1 million available in each round. Awards of $1,000 will be available for 500 businesses and grants of $2,000 per business up to 250.
The second round of disbursement will be initiated shortly after the first-round process is completed.
The criteria for businesses to be eligible include:
- Domiciled in Federal Way
- Possess a Federal Way business license
- Must have been in business one year prior to 2020
- Must be current on all taxes and government fees
- Not a recipient of other grants or other state or federal COVID-19 funding
- No more than 10 Employees (full-time equivalent) per business
- Annual revenues of business cannot exceed $1.5 million
- Home occupation businesses operated from the owner’s primary residence may qualify if the residence is physically located in Federal Way city limits, although priority will be given to “brick and mortar” businesses
- Nonprofits are not eligible
- Awardees will be randomly selected based on application criteria
Businesses must also certify any funds they receive will be used to cover costs that are necessary expenditures during the COVID-19 crisis, for a period beginning March 1 and running through Oct. 31.
In April, Governor lnslee announced the award of nearly $300 million to local governments across Washington from the state’s allocation of the CARES Act federal funding. The City of Federal Way was awarded approximately $2.96 million in federal funding, determined by population, to help with reimbursable costs it has already incurred in response to COVID-19 public health impacts.
Mayor Jim Ferrell decided to allocate up to $2.5 million in funding to be available to Federal Way businesses negatively affected by the COVID-19 crisis.
“Please join me in doing everything we can to make sure businesses in our city are aware of this opportunity for them to secure some of these funds. It’s critical that we get this money out in an equitable and transparent process,” Ferrell said.
For assistance with the grant application, or to request a paper or electronic application, a grant hotline is available at 253-835-2414.
Business owners can also email CovidGrant@cityoffederalway.com for more information.