Resources for Small Businesses

Small businesses have been hit especially hard by the coronavirus, but help is available. Below, you will find information for small business owners seeking loans as well as business and emergency resources available in the Portland metro area.

Business Oregon Commercial Rent Relief Program 

Building owners and business owners in Oregon can start prepping for a new grant through Business Oregon that will open next week. 

The Commercial Rent Relief Program, which opens Monday, March 8, compensates landlords leasing property in the state of Oregon if they have tenants who are behind on lease payments or have any forgiven base rent amounts that have been negotiated due to COVID-19. 

FUNDING: The maximum grant per lease is up to $100,000. The maximum total amount in grants that a landlord may be awarded (the amount of past-due payments for all tenants) is $3 million.

WHO: Landlords who lease property in the state of Oregon must initially apply. However, there are requirements for participating tenants, including that they must:

  • Employ 100 or fewer full-time employees per lease (as of February 28, 2021),
  • Be registered to do business in the state of Oregon with the Secretary of State,
  • Be current on taxes, and
  • Be a for-profit business.

A tenant is NOT qualified if it is a: publicly traded company, non-profit organization, residential tenant, or government entity. 

WHAT: There are three forms. For Form 1 (to be completed by the landlord), applicants will need:

  •  The landlord’s name and address,
  • The tenant’s name and address,
  • The tenant’s total number of part-time and full-time workers,
  • The tenant’s business classification, 
  • The base lease rent amount due and paid per month from March 2020 to February 2021, and
  • A signed lease at the ready.

WHEN: The application process opens Monday, March 8. The awards will close in March. Awards announcements will be sent out in early April, and checks will be released toward the end of April.

WHERE: To see the full details about who can qualify and what information you need to have ready for Form 2 and Form 3, visit https://www.oregon4biz.com/Coronavirus-Information/CRR. There is also a helpful informational video on YouTube: https://tinyurl.com/7rm9ye55.

OTHER LANGUAGES: The Business Oregon informational webpage offers links with the full details in Spanish, Korean, Russian, Chinese, or Vietnamese in the top right-hand portion of the website: https://www.oregon4biz.com/Coronavirus-Information/CRR.

Fairview Strong Initiative

The application process is currently closed. Please check back in for updates.
Fairview Strong Initiative Form

Federal Small Business Stimulus Programs

The Paycheck Protection Program has continued. It is a federal program to help small businesses keep workers employed. Find program details and learn how to apply.

U.S. Chamber of Commerce has put together a guide to all of the federal programs available to small businesses. The Chamber summarizes each of the three new programs and explains what it means for businesses. They also have a handy quick reference sheet that explains everything you need to know about the CARES ACT.

Emergency Economic Injury Grants

Emergency Economic Injury Grants are continuing. These grants provide an emergency advance of up to $10,000 to small businesses and private nonprofits harmed by COVID-19. More information can be found in this Emergency Economic Injury Grants FAQ

SBA Disaster Loans

SBA Economic Injury Disaster Loans (EIDL) are direct loans from the U.S. Department of the Treasury available to small businesses, non profits and owners of rental property. Apply online for an SBA Disaster Loan.

SBA Express Bridge Loan Pilot Program

This pilot program allows SBA Express Lenders authority to deliver expedited SBA-guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the small businesses apply for and await long-term financing. You can find complete details on the program in this guide from the SBA.

Please note that only lenders that were already participating in the SBA Express program at the time of the disaster can issue Express Bridge loans. This is a current list of lenders in Oregon

Oregon Business and Emergency Resources

Oregon Small Business Development Centers (SBDC)
https://bizcenter.org/covid-19/

Small Business Navigator - Oregon COVID-19 Resources for Businesses
https://www.oregon4biz.com/Coronavirus-Information/

Greater Portland Inc. 
https://greaterportlandinc.com/covid-business-resources