CLALLAM COUNTY – All three major Chambers of Commerce in Clallam County announced today a newly-launched partnership to offer small businesses affected by COVID-19 affordable Business Resilience Loans.
Clallam County has contributed a combined total of $125,000 to support the partnership between the Chambers from the cities of Port Angeles, Sequim and Forks. They’ve joined up with Craft3, a regional non-profit loan fund, to make a total of $500,000 in loans to eligible businesses located in Clallam County.
The loans are between $15,000 and $50,000 and can be used in many ways such as making lease payments and purchasing inventory. The interest rate is 5% fixed for the life of the 4-years loans.
Business owners interested in the program can contact their local Chamber of Commerce beginning at 2:00pm (tomorrow)on Wednesday, June 3.
Businesses do not have to be a Chamber member to be screened for eligibility, but there are requirements. Businesses must have been open at least two years, showed a profit in 2019, and experienced workforce reductions after March 1, 2020 OR experienced business disruptions such as closures as a result of COVID-19. Business owners must also have a median personal credit score of 640 or higher.
- In the Port Angeles area, interested businesses should call (360) 452-2364, or email director@portangeles.org.
- In the Sequim area, interested businesses should call (360) 683-6197, or email director@sequimchamber.com
- In the Forks area, interested businesses should call (360) 374-2531, or email chamber@forkswa.com