Covid 19 – Small Business Resources
Alberta Main Street staff and volunteers are working to advocate for grants for small business owners, and to stay informed of resources as they become available through the City of Portland, the State of Oregon, and the federal government.
This page will be updated regularly through 4/28. Call Ann Griffin with questions or suggested updates. 971-275-6240.
Second Round of SBA Small Business Funding – A number of businesses on Alberta Street applied for the Emergency Injury Disaster Loan and the Paycheck Protection Program (a potentially forgivable loan). Priority will be given to small businesses that applied in the first round but who didn’t receive funding. Keep talking to your lender to make sure that your application has been entered into the SBA pipeline.
Workshare Oregon – This is a resource for employers who are having to reduce staff. Instead of losing their positions, employees work fewer hours and then file for unemployment benefits to supplement their hours. The net impact is a higher take home wage for the employees and a reduced loss for the employer. Businesses should have 3 or more employees who would be impacted in order to participate. Go to:
Portland Community SOS – This online platform encourages Portland residents to support local businesses by purchasing gift cards. Alberta Street’s John Koening of Tumbleweed and Grasshopper helped to get this early relief effort going. Thanks, John. Add your business name to the list.
Service Industry Tips – This is a national website that encourages people to give an online tip to service workers while bars and restaurants are closed. People can directly pay tips to out of work wait staff and bartenders using one of many online cash systems (like venmo or cash app). Service workers sign up here to be put on the list: https://app.serviceindustry.tips/en/signup/?city_code=PDX#
Need to Get Your Products Online Fast?
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SBA Small Business Economic Injury Disaster Loan
No one wants to take on a new commercial loan right now. Understood. But if your business needs to meet payroll and other obligations, an SBA loan may be one way to do it. And Main Street staff can help you navigate the application process.
The U.S. Small Business Administration (SBA) is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).
SBA loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail firstname.lastname@example.org
You can also visit SBA.gov/disaster for more information.