Small Business Stabilization Fund

2020 Small Business Stabilization Fund for Businesses and Nonprofits Impacted by COVID-19

OED will invest an additional $4 million to stabilize small businesses and economic opportunity nonprofits. The Small Business Stabilization Fund (SBSF) provides $10,000 grants to small businesses and economic opportunity nonprofits throughout Seattle who have been financially impacted by COVID-19. 

In an attempt to prioritize funding to businesses that are more likely to have experienced the greatest economic impacts, OED will ensure that at least two-thirds of grant recipients will be selected from applications from businesses with five or fewer employees and from areas that are identified as high risk of displacement or highly disadvantaged. Those areas are determined by several socioeconomic factors to identify areas of the city that have been historically underserved and more likely to be disproportionally impacted by economic shocks. This fund also aims to better support creative industry small businesses and workers and will specifically allocate 10 percent of all grants-or 24 grants-to creative industry small businesses. All businesses and nonprofit organizations that receive a grant must commit to not reducing wages and benefits provided prior to the COVID-19 emergency. 

Eligibility  

  • Business is located in Seattle city limits (businesses located in unincorporated King County are not eligible for the SBSF)  
  • Valid City of Seattle business license
  • 25 full-time equivalent employees ("FTEs") or fewer as of March 2020 
  • Annual net revenue does not exceed $2 million dollars reported in Business and Occupation (B&O) taxes to the City of Seattle's Finance and Administrative Services Department   
  • Business has no more than two locations  
  • Minimum of 12 months in business, since November 9, 2019  
  • Not a previous Small Business Stabilization Fund recipient
  • Operates from a physical location (except for Creative Industries, Food Trucks, and Farmers Market Vendors)
    • Farmers Market Vendors are required to provide the address of the farmers market they sell at  
  • Businesses that limit clientele to 18 years and older are eligible except for those regulated as "adult entertainment" businesses under Seattle Municipal Code 6.270

Additional Nonprofit Criteria 

  • Active nonprofit status with Washington Secretary of State
  • Specifically provides economic opportuntiy through education programs and/or job training
  • Not a previous recipient of a City of Seattle grant in 2020

The Small Business Stabilization Fund Application will be open from November 9 - November 30, 2020.

Complete the Small Business Stabilization Fund application by November 30, 2020, 11:59PM

Apply Here

Small Business Stabilization Fund Frequently Asked Questions

How to Prepare and Apply for the Small Business Stabilization Fund 

To apply for the Small Business Stabilization Fund you must complete the online application. You will need to have your Unified Business Identifier (UBI) number and  City of Seattle Business License.

If you are selected for a grant, you will need to provide the City with the following:

  • Federal DUNs number
  • Business Employer Identification Number (EIN)
    • Lost or misplaced your EIN? Request it here
    • Ask the IRS to search for your EIN by calling the Business & Specialty Tax Line at 800-829-4933. The hours of operation are 7:00 a.m. - 7:00 p.m. local time, Monday through Friday. An assistor will ask you for identifying information and provide the number to you over the telephone, as long as you are a person who is  authorized to receive it. Examples of an authorized person include, but are not limited to, a sole proprietor, a partner in a partnership, a corporate officer, a trustee of a trust, or an executor of an estate.
  • Copies of your 2019 business taxes and bank account information 

Language Access

If you need assistance in completing the application or have questions, please contact the Seattle Office of Economic Development at oed@seattle.gov or (206) 684-8090.

If calling, select your language and leave a voice mail in language with your name and contact info.  An in-language staff member will return your call as soon as possible. Spanish, Vietnamese, Cantonese, Mandarin, Somali and Amharic are available. 

If you need assistance in other languages you can call (206) 684-8090 and leave a voicemail on the main line or email OED@seattle.gov. Provide your name, contact info and language need and someone will return your call.  

Informational Webinars

OED hosted two informational webinars on how to successfully apply for the SBSF:

  • November 12, 12:00PM - 1:00PM 
  • November 18, 12:00PM - 1:00PM 

Missed the SBSF informational webinar? Watch the recording of the webinar and view the slide deck.      

To date, 469 small businesses have received grants through the Small Business Stabilization Fund. OED received over 9,000 applications in March 2020 when the Stabilization Fund was launched. Because the need exceeded the available resources, the application process was not re-opened-instead, grantees for the second and third round were chosen by lottery from the original pool of eligible applicants. 

Review the 2020 Small Business Stabilization Fund Awardees