April 3, 2020
One of the key resources in this recently-passed legislation is the $349 billion Paycheck Protection Program. As of today, this program is officially live and accepting applications. The Paycheck Protection Program is designed to help small businesses, nonprofits, veterans’ organizations, and tribal businesses with fewer than 500 employees — as well as sole proprietors, self-employed Oregonians, and independent contractors — cover payroll and operational costs by awarding them with fully forgivable loans.
The Treasury Department has announced that the loans, which are guaranteed by the federal government and do not require a personal guarantee or collateral, will be approved as quickly as today. You can apply for these loans through your bank or here. For more information about the program, check out my team’s Frequently Asked Questions document here.
In addition, I have also updated my original coronavirus resource webpage to include 15 FAQ documents and fact sheets on the latest available resources related to broadband access, businesses, childcare, direct payments, higher education, health systems, housing, K-12 education, Medicare, nutrition, rural development and production, assistance for Oregonians stranded abroad, supporting tribes and veterans, and unemployment benefits. These documents include answers to many of the questions you and your neighbors have reached out to my office about, and I hope they will be valuable to you as you navigate the uncertainties of this crisis. These resources will continue to be updated as we learn more from the administration about the implementation of these new programs.
This is a challenging moment for our communities in so many ways. I will continue to fight for the resources our communities deserve, and to do everything I can to make sure you have the information you need to access them.
All my best,
Jeff
