State To Release $135M in Business-Economic Relief

According to Gov. Inslee, a $135 million fund will be allocated for a variety of loans and grants for business-economic relief.

During a press conference Friday, Commerce Director Lisa Brown said the bulk of the money will be allocated for the Leisure and Hospitality Industry, which has been hardest hit.   Brown said by far the LH Industry (restaurants, bars, hotels etc.) have been hit the hardest.

Of the $135 million $70 will be for business loans $50 million directly for Leisure and Hospitality, $30 million for recovery loans, and $20 million for residential-renter debt. That funding will go towards helping renters pay rent, although there is a not-eviction order in place. It is believed much of it will go to landlords.

There will also be funds for utility bill relief for people during the winter months, those who are financially struggling to pay utilities.  No specific timetable set for these

Inslee also discussed his caps he placed upon food delivery services on Doordash, Uber Eats, GrubHub etc. for what they charge restaurants. The legality of that practice has been brought into question by legislators as setting up precedent for him to possibly venture into other areas such as wages, commissions etc.

Details of how businesses will receive these grants or apply for them is expected soon. Inslee also said WA state cannot meet the financial needs of helping businesses and citizens without more Federal aid, and said the state has petitioned for that to happen.

To watch the press conference for yourself, click on the button below.