Business Relief Resources

Recently, we have all been faced with challenges that were impossible to anticipate, let alone plan for. The COVID-19 virus and its repercussions came fast, drastically impacting our lives, families, businesses and communities. With information coming out hourly, we’re all doing our best to cope with the new normal. Although the future is uncertain, and no one truly knows how long this will last, the best thing we can do is focus on the facts and things that are within our control.

As business owners, we know you’re doing your best to take care of your customers and your employees. While you assess the current environment and future of your business, there may be tough decisions ahead. We want you to know that you are not alone. Contact our Commercial Lending Department for resources that are available. Our team will help provide options for you and continue to work with our current SBA Lenders for solutions that fit your needs.

Email our Commercial Lending Department

Guidance for business & employers at sba.gov
Resources from the Small Business Development Center on business resiliency plans
Create your own resiliency plan with the Business Resiliency Guide (PDF).
Learn about the unemployment benefits available for different COVID-19 scenarios from the State of Oregon Employment Security Department.
State of Oregon Employment Department COVID-19 page with unemployment information, FAQs, and more.
SBA Economic Injury Disaster Loan Program. The SBA is offering 3.75% APR fixed rate loans with long amortizations for lower payments and reduced fees. See below for tips on how to apply.

Guidance for business & employers at sba.gov
R esources from the Idaho’s Small Business Development Center
Resources from the Official Government Website for Idaho
Idaho Department of Labor COVID-19 page with unemployment information, FAQs, and more.
SBA Economic Injury Disaster Loan Program. The SBA is offering 3.75% APR fixed rate loans with long amortizations for lower payments and reduced fees. See below for tips on how to apply.

The Save Small Business Fund is a business-led program to provide supplemental grants to the small business community suffering from the impacts of the COVID-19 pandemic

WASHINGTON, D.C. — The U.S. Chamber of Commerce Foundation, with founding partner Vistaprint, has launched the Save Small Business Fund, a grant program to provide assistance to small businesses owners impacted by the coronavirus pandemic. Funded by contributions from corporate and philanthropic partners, the Foundation will distribute $5,000 grants to small employers in economically vulnerable communities in the United States and its territories.

“Small business owners are facing unprecedented challenges. The needs are urgent and every dollar counts,” said Carolyn Cawley, president of the U.S. Chamber Foundation. “While the demand is great, we’re proud to be able to contribute to the many efforts underway to help small employers get through the next days and weeks and on the road to recovery for their communities.”

The Save Small Business Fund is part of the U.S. Chamber of Commerce’s Save Small Business Initiative — a nationwide program to address small businesses’ immediate needs, mitigate closures and job losses, and mobilize support for long-term recovery. The Foundation is launching the fund with support from founding partner, Vistaprint, and additional donations from supporting partners, Merck, S&P Global Foundation, and Travelers.

“Small businesses are the soul of every community, and right now our communities are facing hardship,” says Vistaprint CEO Robert Keane. “I started Vistaprint out of my apartment 25 years ago and I know firsthand how hard it is for small business owners. I have been – and continue to be – amazed by their passion, resilience and ability to persevere through change. As a champion and marketing partner for small businesses, Vistaprint is there when the challenges hit, and we are doing all we can to help them stay in business. We are proud to be partnering with the U.S. Chamber of Commerce Foundation to provide a lifeline during this time.”

Grant applications open on April 20, 2020. To qualify, applicants must employ between three and 20 people, be located in an economically vulnerable community, and have been harmed financially by the COVID-19 pandemic. Grants will be awarded weekly on a rapid and rolling basis until all funds have been disbursed.
To learn more about the Save Small Business Fund or apply for a grant, visit www.savesmallbusiness.com.

The U.S. Chamber of Commerce is committed to helping American businesses respond to the coronavirus so they can support their employees, customers, and communities. Our members and the state and local chambers, who are on the front lines of this pandemic, need us now more than ever to help them through this significant disruption. We will continue working every day to help our country’s people, businesses, and economy weather this storm and emerge stronger—just as we have at other challenging times in our nation’s history. Visit uschamber.com/Coronavirus for more information.

SBA Injury Disaster Loan Program – Tips on Applying

Start the process as soon as possible. The demand for disaster assistance loans is very high and will likely continue to grow.
Go to sba.gov and download the forms. Have the forms completed in full before you begin the application process.
Apply during non-business hours for easier access. Please be patient and diligent as the system will likely be overwhelmed.

Economic Impact:

The global supply chain was disrupted due to China and Italy’s extensive quarantine, which shut down their manufacturing sectors.
Some businesses may not be able to get supplies from China and Italy, putting them at risk of halting production.
Major cultural and sporting events have been canceled.
“Shelter in Place” mandates continue to be implemented.
Q1 will show positive increase due in large part to the panic buying that has been occurring.
Q2 will show negative economic growth due to the economic shutdown from the supply and demand shock, which could continue into Q3-Q4.
The threat of a recession looms if shut downs and shelter in place mandates continue into Q2-Q3.

If you have any questions, please call us at (541) 889-3149. Our Commercial and Business team are happy to help answer questions you may have. This virus won’t last forever. We will get through this, together – apart.