Funding-Freeze: The Federal Grant + Loan Pause and Its Impact on Women-Owned Business

Photo Credit: Jennifer DeBarros Photography

A Message from Robin Haynes, Executive Director of the Spokane Independent Metro Business Alliance (SIMBA):

This week the non-profit and small business communities were thrown into a panic when the federal Office of Budget and Management (OMB) issued a directive to halt payments on federal grants and loans. While much of the media focus was (rightfully so) on the impact to programs like Head Start, WIC, and student loans, the federal funding freeze was felt across (virtually) every non-profit and small business owners. Anyone running a business knows that business lending is a necessity, and a large majority of that lending comes from the Small Business Association (SBA). Your loan may have been issued by SIMBA Member Numerica Credit Union, but it was likely backed by SBA (federal) dollars. If federal loans and grants are shut down, that includes SBA lending. While the OMB has rescinded the federal freeze - for now - this fast moving change made clear that SIMBA needs some new tools to share "of the moment" information in our local, state, and federal landscape that impacts our small business and greater communities in Eastern Washington.

With that, SIMBA will begin blogging on our website soon to give small business owners, consumers, and entrepreneurs the information they need when they need it - and from a trusted source. We want to increase your power to know what is happening, when it is happening, and how it impacts (or could impact) you and our community. We'll be providing updates on local, state, and federal legislation; providing tools and scripts to reach out to decision makers; and sharing the work we are doing as a non-profit to support our entrepreneurs and business owners. For example, SIMBA signed onto a petition with Main Street Alliance on Tuesday (January 28) to oppose the federal funding freeze as it directly impacts small business, especially in our rural communities. While the freeze has been halted, business owners can still sign the petition here to tell their legislators how import SBA Lending is. Likewise, SIMBA happily supported the resolution brought forth by our friends at Latinos en Spokane asking our local leaders in the City of Spokane to follow Washington State's Keep Washington Working Act, to ensure the dignity, safety, and inclusion of our our immigrant community members - many of whom are small business owners. The resolution will be before the council in the upcoming weeks, so if you're in Spokane, please reach out to your council person. 

We'll keep you posted as the blog begins, and as always, we are here to support the diverse entrepreneurs, business owners, and consumers throughout Eastern Washington. Supporting local only makes us stronger. We share more in common than we share in differences.

Warm regards, Robin