InvestigateWest has received a $24,600 federal coronavirus-aid loan that will provide relief to our nonprofit news organization as we look into an uncertain funding future.
InvestigateWest is a small but mighty nonprofit newsroom, and we rely on grants from foundations, as well as gifts from individual donors. As COVID-19 looks to impact our nation and the world for months to come, InvestigateWest’s staff and board looked carefully at what was involved in accepting this loan.
The loan was offered under the Payroll Protection Program (PPP) and administered by the Small Business Administration and private lenders. The program allowed small businesses and nonprofits to borrow as much as 2 1/2 months of payroll, up to $10 million. The loans may be forgiveable if borrowers use the money to retain or rehire staff during the 60 days after the loan is funded. Our loan will be used entirely to retain staff.
InvestigateWest has previously not pursued or accepted government funding. That’s because we want to assure you, the reader, that our stories are not influenced by the government we cover. In this case we have decided, after due consideration, to pursue government funding because our board of directors determined that this application for a loan is available to all small businesses.
We feel it is important to disclose our funding sources, and will always provide this information openly to you, our readers and supporters. We have a policy of maintaining journalistic integrity, and work diligently to safeguard the boundary between funding and the work we do. We know that you rely on InvestigateWest for truthful reporting, and we take that charge seriously.
If you have any questions about our stories, this loan, or our policies, please contact Executive Director Allison Augustyn at 206-383-5936, or Executive Editor Robert McClure at 206-718-0340.