Chamber Foundation establishes WISH Fund for businesses

Jun 27, 2019

The Edmonds Chamber Foundation has established a new program for local business owners, the WISH Fund (When Inconvenient Stuff Happens).

“Businesses are so very important to our city,” said Greg Urban, president and CEO of the Edmonds Chamber of Commerce.

“These businesses are the reason people visit our city, an important source of jobs and crucial to a strong community. Owning and operating a business has many challenges already and adding the cost of an unexpected disaster, burglary or theft can be too much for some businesses.”

Citing sources, Urban said that 64% of small businesses are started with less than $10,000 and 82% of businesses fail because of cash flow problems. That is why even a small disaster can potentially ruin a businesses' chances of success, he said

The Edmonds Chamber Foundation has created the WISH Fund to help these businesses get back on their feet much faster, he added.

This program is intended to assist in disaster recovery when an incident is not covered by insurance, a business is under-insured, or the damages are less than their deductible.

“Our hope is that a local business will be able to use these emergency funds to get their doors back open quickly,” said Lillyan Hendershot, president of the Edmonds Chamber Foundation.

The WISH Fund will be able to quickly respond to requests under $1,000, with larger requests subject to the availability of funds and a more thorough application process.

“This new Edmonds Chamber Foundation WISH Fund is a great example of visionary stewardship from our business community and it will have transformational impact for those local businesses who are impacted,” said Marilla Sargent, chair of the Edmonds Chamber of Commerce.

WISH Fund recipients will be chosen by a committee comprised of Chamber Foundation board members and Edmonds Chamber employees. Recipients must apply for the funding, supply necessary documentation, and be located in the 98020 or 98026 zip codes.

For more information or to donate to the WISH Fund, go to EdmondsChamberFoundation.org or call 425-670-1496.

 

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