Main Street

Main Street

Small Business FAQ page

UPDATE: January 8, 2021

Another round of funding for PPP loans was authorized in the latest COVID relief deal. The Small Business Administration (SBA) announced on Friday, January 8th that the process of distributing these loans will begin on Monday, January 11th.

According to the SBA, “To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter.” More guidance on this new round of PPP distribution is available at: https://www.sba.gov/article/2021/jan/08/sba-treasury-announce-ppp-re-opening-issue-new-guidance   

Other SBA guidance:

Oregon businesses are experiencing drastic levels of economic uncertainty and instability in the face of a global public health crisis. From the Senate, I’ve been fighting as hard as I can to get immediate relief to small businesses, workers, and the families and communities that rely on Oregon’s vibrant and expansive economy.

Click here for additional business funding resources>>

My team and I have been hearing from lots of Oregonians struggling to apply for the new SBA emergency relief loans. We are actively engaged on behalf of Oregon small businesses, non-profits, the self-employed, and independent contractors, trying to rectify the administration’s implementation of these funds and get resources into local communities ASAP. If you are having troubles applying for the SBA emergency loans, please notify my office using this short submission form:

SBA Assistance Web Form

Recent Updates:



Background:

Late on March 25, the Senate passed the “Coronavirus Aid, Relief, and Economic Security (CARES) Act,” an unprecedented $2 trillion emergency aid package, which will direct a massive amount of funds towards stabilizing our economy and our health care system.

This follows the passage of the “Families First Coronavirus Response Act” on March 18, which also includes some key provisions to assist small and medium-sized businesses.

An incredible amount of resources have been set aside in these two bills specifically to help small and medium-sized businesses, along with nonprofits serving critical needs in this crisis.

Click here for more information on these and other resources available for businesses and 501(c)(3) nonprofits through these aid packages.

Congress’s aim is to get these resources out into state and local communities as soon as possible, but given the scale and scope of this aid package, it may take several weeks for pieces to fully come online. I’ll be updating this hub regularly to make it easier for Oregon businesses and nonprofits to keep track of the many moving pieces in the federal response.

In addition to Operation: Main Street, I've also created a coronavirus resource page, which focuses on information and assistance for individuals and communities.

BUTTON: Visit my Coronavirus Resource Page