Economic Injury Relief for Small Businesses Affected by COVID-19
Business Oregon: First-Come First-Served Small Business Grants
Starting November 19th, the second round of grant applications will be available to small businesses! The grants are available to businesses that have experienced a loss in revenue due to COVID-19. Businesses are eligible to receive up to $200,000 in grant funding, and grants will be reviewed on a first-come, first-serve basis. To be eligible, businesses must meet the following criteria not limited to:
- Up to 100 employees
- Businesses prohibited from operations by the Governor’s Executive Order 20-12, or demonstrate a 25% reduction in sales over a 30-day period in 2020 compared to 2019
For more information, please visit www.oregon4biz.com.
Paycheck Protection Program
The Small Business Association has issued a Paycheck Protection Program in the form of forgivable loans issued to small business to be used for payroll, mortgage interest, rent, and utilities during COVID-19 shutdowns. The application and fact sheets can be found below:
This is a program designed to provide Oregon businesses an alternative to layoffs. It allows employers to leverage unemployment insurance to subsidize a portion of lost wages for employees whose work time is reduced due to market turndown or other business stressors. Click here for more information.
If your business is experiencing negative impacts from COVID-19, or anticipate negative impacts, and think you will need disaster economic injury relief, please visit the Small Business Administration website to complete an assistance application.
For additional information from the Oregon Secretary of State regarding resources for businesses, click here.