COVID-19 BUSINESS ADVOCACY
* We are working with the state and federal delegations providing information on the economic impacts to our local economy and advocating for solutions to assist our local businesses.
* We are engaged in the Central Oregon COVID-19 Recovery Team and meeting weekly.
* We are engaged in a local Crook County COVID-9 task force.
* We will reach out via phone to each of our traded-sector businesses, making sure you have resources needed, and offering help as we can.
FOR BUSINESSES LOOKING AT THE SBA DISASTER LOAN PROGRAM
* Loan amounts of up to $2 million per entity
* Repayment terms of up to 30 years
* 3.75% interest rate for small businesses, and 2.75% interest rate for nonprofits
To apply for the loan, and for information on the loan, go to the SBA website. [Three Step Process PDF from SBA attached]
SBA Disaster Loan Information<https://disasterloan.sba.gov/ela/Information/Index>
For technical assistance, or help filling out the application, your local Small Business Development Center personnel have been trained to assist. Here is a link to their website:
Another resource available is the SBA Disaster Helpdesk, which is open from 8AM to 8PM EDT 7 days a week: (800) 659-2955;
Another option is to email the SBA at: email@example.com<mailto:firstname.lastname@example.org>.
FOR OTHER FINANCIAL ASSISTANCE
* Amazon has created a Neighborhood Small Business Relief Fund<https://blog.aboutamazon.com/job-creation-and-investment/helping-local-small-businesses-through-the-impacts-of-covid-19> for businesses affected by COVID-19 in the Seattle area. The company pledged $5 million for the fund.
* Yelp is providing $25 million in funding relief to small businesses, particularly restaurants and nightlife businesses, affected by COVID-19. This includes free access to page upgrades. You can find more information about how to qualify for aid here<https://blog.yelp.com/2020/03/coronavirus-relief-for-restaurants-and-bars?utm_source=news_blog&utm_medium=yelp_blog>.
* The National Federation of Independent Businesses, a small business special interest group, is offering legal resources and webinars<https://www.nfib.com/content/analysis/coronavirus/latest-on-coronavirus-from-nfib/> related to the virus.
* If you run a restaurant or restaurant group, the Restaurant Worker’s Community Foundation has information<https://www.restaurantworkerscf.org/news/2020/3/15/restaurant-workers-community-foundation-announces-the-formation-of-restaurant-workers-covid19-crisis-relief-fund> related to grants, financial programs and other resources for restaurants affected by COVID-19. This includes immigrant-specific concerns, USBG relief grants and a COVID-19 relief fund<https://www.restaurantworkerscf.org/news/2020/3/15/resources-for-restaurants-and-workers-coping-with-the-covid-19-emergency> sponsored by the organization.
* USA Today has created a centralized location for small businesses to list their companies and encourage customers to purchase gift card for use later. You can visit the site here<https://supportlocal.usatoday.com/>.
To stay current on what resources are available to businesses during this time, go to the Business Oregon COVID-19 website. It is being updated throughout the day with the most relevant information.
EDCO COVID-19 Information<https://edcoinfo.com/covid-19-central-oregon-business-resources/>
Business Oregon COVID-19 website<https://www.oregon4biz.com/Coronavirus-Information/>
FOR REMOTE WORKING TECH PLATFORMS
Zoom Virtual Meetings<https://zoom.us/ent?zcid=2582>
Slack Team Communications<https://slack.com/>
Asana Virtual Project Management<https://asana.com/>
Canva for Designing Customer Media<https://www.canva.com/>
FOR BUSINESS ASSISTANCE/MENTORSHIP
SCORE<https://www.score.org/coronavirus-sba-loans> is offering advice and assistance from its business mentors including help navigating financial challenges and assistance in applying for SBA disaster assistance loans. SCORE has centralized all of its assistance options here.
FOR TAX RELIEF
To offer tax relief during the coronavirus outbreak, the individual and corporate taxpayer will have an additional 90 days to pay their taxes. As a result, taxpayers will have until July 15, 2020 to pay the taxes owed. Note you will still need to file a tax return or an extension by April 15.
This applies only to Federal income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for the 2019 taxable year, and Federal estimated income tax payments (including payments of tax on self-employment income) due on April 15, 2020, for an Affected Taxpayer’s 2020 taxable year.
FOR COMMERCIAL TENANT RENT ASSISTANCE
* Template letter<https://www.linkedin.com/pulse/help-i-cant-pay-my-rent-covid-19-has-impacted-our-reinhart-he-him-/> for partial rent relief requests for business tenants
* Guidance post<https://www.linkedin.com/pulse/pleaseoh-pleasewhat-should-i-do-my-lease-blake-st-onge/> re: commercial leases from a CRE advisor
Stay tuned for more updates as new items are unfolding almost hourly and please reach out at any time with any questions, for technical assistance, or even with technology questions or customer outreach related to remote working. EDCO and all of our local Crook County partners are here to support you. As previously mentioned, it is key that we band together during this time, stay innovative in how we conduct business, and use our local networks as a support mechanism, as that is one of the reasons so many people located in Central Oregon – pride in community and cultivating relationships.