Updated June 16, 2020
Many businesses have suffered severe economic hardship because of the global pandemic. These resources may help you and your employees with economic relief or help you stabilize your business.
For guidelines for reopening, see our Business Reopening Tools.
This information changes rapidly. We recommend you check regularly to make sure you stay up to date with the latest information.
COVID Relief for Businesses and Nonprofits
The CARES Act provides funding for businesses and nonprofits through the Paycheck Protection Program and Economic Injury Disaster Loan program. Other funding options and technical assistance are available through Small Business Administration.
Paycheck Protection Program
The Paycheck Protection Program - provides 100% federally guaranteed loans to small businesses who maintain their payroll during this emergency. These loans may be forgiven if borrowers meet certain conditions, like applying the funds to address important payroll and operational costs.
- The maximum loan amount is $10 million.
- The loans do not require a personal guarantee.
- All loan proceeds spent on the eligible expenses can be 100% forgiven.
- You can apply through participating banks and credit unions.
- Interests rates as low as 0.5% and deferred loan payments of up to 6-months are also available.
- Contact your lender to submit your application as soon as possible.
Economic Injury Disaster Loans
Economic Injury Disaster Loans (EIDL) provides grants of up to $10,000 or loans of up to $2 million to qualifying small businesses and nonprofits in Oregon.
- Submit your EIDL application as soon as possible.
- Deadline to submit your application is December 21, 2020.
For questions about EIDL loans, contact the SBA disaster assistance customer service center at 1-800-659-2955 (TTY/TDD: 1-800-877-8339) or e-mail DisasterCustomerService@sba.gov.
Help for your employees
Work Share Oregon can help your employees if you are cutting your hours or shutting your doors, but keeping employees on at reduced hours. The program allows employers to leverage unemployment insurance (UI) to subsidize a portion of lost wages for employees whose work time is reduced.
Expanded sick leave
Employees may be eligible for expanded sick-leave and FMLA if they show symptoms of COVID-19, are caring for a family member with COVID-19 symptoms, or stay home to care for a child whose school/childcare are unavailable due to COVID-19.
See Families First Coronavirus Response Act: Employer Paid Leave Requirements for more information.
The Oregon Department of Consumer and Business Services issued a temporary emergency order in response to the COVID-19 outbreak. It requires all insurance companies to extend grace periods for premium payments, postpone policy cancellations and non-renewals, and extend deadlines for reporting claims.
Your business insurance may have a business interruption clause that covers loss of income as a result of disruptions to your operations from imposed government restrictions. Review your policy. Be prepared to clearly document loss of income resulting from the COVID-19 crisis.
Culturally Specific Business Organization Resources
- Hispanic Metropolitan Chamber of Commerce: COVID-19 Resources for our Community
- Oregon Association of Minority Entrepreneurs
- Oregon Native American Chamber
- Portland Area Business Association
- Prosper Portland - COVID-19 Business Resources
- City of Gresham - Small Business technical assistance, call 503-618-2372
- Greater Portland Inc - COVID-19 Business Resources
- The Nonprofit Association of Oregon - Coronavirus Disease 2019 (COVID-19) Resources
- Business Oregon
- Portland Business Alliance - Stay healthy, stay informed: COVID-19
- Oregon Entrepreneur Network
- Oregon Department of Revenue - COVID-19 tax relief options