Business Recovery
Oregon's guidance for business operatons gets updated frequently. To find out more information related to the state's guidance for all business sectors, please visit our Workplace Guidance Page.
Enhancements to COVID Economic Injury Disaster Loan (EIDL) Program
On September 9, 2021 the U.S. Small Business Administration (SBA) announced an update to the federal disaster loan program for small businesses, non-profits, and agricultural businesses impacted by the pandemic.
Key changes being announced by the SBA include:
- Increasing the COVID EIDL Cap. From $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.
- Implementation of a Deferred Payment Period. Repayment will not begin until two years after loan origination.
- Establishment of a 30-Day Exclusivity Window. A 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.
- Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.
- Simplification of affiliation requirements.
New applications are now being accepted until December 31, 2021. Visit www.sba.gov/eidl to learn about eligibility and application requirements.
Relief for Agricultural Stakeholders Impacted by COVID-19
The USDA will soon publish Requests for Applications (RFAs) for the Pandemic Response and Safety Grants program to aid small producers, processors, distributors, farmers markets. A grant forecast is available to determine eligibility. On Sept 23, USDA will announce applications can be submitted through the grant portal. Learn more about the program here.
RFI for Small Business Assistance
Washington County is issuing a request for information (RFI) from community-based organizations and community development financial institutions about ways to assist small businesses in their recovery from the economic damage that occurred during the pandemic. For information and guidance on the program go here.
OPERATIONAL COST GRANTS
Certain businesses with 100 or fewer employees can apply for potentially thousands of dollars in grants between now and June 6, 2020. Eligible businesses must:
- offer the consumption of food and or drink on premise;
- provide specified indoor physical exercise, recreational or family entertainment; OR
- provide specified personal services; and that experienced financial hardship due to the COVID-19 pandemic in Oregon.
Businesses that received assistance grants through the state of Oregon Commercial Rent Relief Program for the same location are eligible to receive the grant, as long as the award amount through the Commercial Rent Relief Program was less than $100,000. Find more details and application guidance here.
RESTAURANT REVITALIZATION FUND
The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program administered by the U.S. Small Business Administration will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Find application guidance here.
COMMERCIAL RENT RELIEF PROGRAM
On April 22, Business Oregon will open the second round of a grant program for building owners to cover outstanding lease payments from small business tenants that are behind on rent due to COVID-19. The grants can go up to $100,000 per each business tenant, but not more than $3 million for each landlord. Find application guidance here.
PAYCHECK PROTECTION PROGRAM
The federal government is prioritizing paycheck protection program (PPP) assistance for businesses with less than 20 employees from February 24 to March 10. Contact the U.S. Small Business Administration, Small Business Development Center, or any bank that is a PPP lender to start the process. You can reach out to our Business Recovery Centers or the Oregon Small Business Advocate for more information.
BUSINESS RECOVERY CENTERS
Washington County has partnered with the Chambers of Commerce in Hillsboro, Tualatin, Beaverton, and Adelante Mujeres to provide free assistance to all businesses throughout Washington County. If your business needs assistance in reacting to COVID-19, the Business Recovery Centers are there to help. Visit the BRC website to find out what they can do to help or to set up a consultation.
NEW REOPENING FRAMEWORK
We are all connected, and our individual actions can make the difference for everyone. Until it is clear the virus is better controlled, the county is asking people and business to continue to work to slow the spread.
- To find more information about federal and state assistance programs, click on the icons on the right side of the page.
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Greater Portland Inc. has also collected information on a variety of programs, resources and tools for businesses within the Portland Metro Region, including those in Washington County.
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The PCC Small Business Center has created guidelines for consideration of business needs as small businesses continue to navigate COVID-19.
