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Resources for small businesses during COVID-19

We've compiled this list of federal, state, and regional resources that are available for small businesses in Oregon during the pandemic. We will update this list as we hear of new information.

Federal resources:

Small Business Administration (SBA) Economic Injury Disaster Loan (EIDL)

  • SBA defines small business either by size or annual receipts
  • Loan advance will provide up to $10,000 for businesses experiencing difficulty
  • Funds will be made available following a successful application. The loan advance will not have to be repaid.

Small Business Administration (SBA) Paycheck protection program (PPP):

  • Loan that helps business keep their workforce employed during the COVID-19 crisis
  • For businesses with less than 500 employees

Small Business Administration (SBA) Debt Relief

  • The SBA will automatically pay the principal, interest, and fees of current 7(a), 504, and microloans for a period of six months
  • The SBA will also automatically pay the principal, interest, and fees of new 7(a), 504, and microloans issued prior to September 27, 2020

Small Business Administration (SBA) Economic Express Bridge Loan

  • Must have a current relationship with SBA Express Lender
  • Loans up to $25,000
  • Bridges the gap while business applies for SBA Economic Injury Disaster Loan.

Contact the district SBA office in Portland.

Federal tax delay

  • Filing due date to July 15, 2020, allows all payments due on that date to be deferred until July 15, 2020, without penalties or interest, regardless of the amount of the payment.

U.S. Chamber of Commerce Save Small Business Fund

  • A short-term grant relief program for small employers (3-20 employees)
  • $5,000 grants
  • Applications are available starting at noon, April 20

State resources

State Tax delay

  • Filing due date moved to July 15, 2020. Estimated tax payments for corporations are not extended for 2020.

State of Oregon Employment Department

  • Expanded unemployment insurance through the CARES Act, signed into law March 27, 2020.

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From saif.com

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