Business Support

COVID-19 Economic Relief

There are still funds available through the U.S. Small Business Administration’s COVID Economic Injury Disaster Loan (EIDL). The EIDL application deadline is December 31st 2021. If you or your business has questions about applications, loan increases, or the SBA’s process when evaluating each of these loans. In order to address these topics, you can attend a live virtual event on Monday, December 6th at 2:30 pm to 4:00 pm, hosted by the SBA’s Portland District Office. The presentation will cover benefits and use of the COVID EIDL, tips to successfully complete the application, common pitfalls that may delay the application process, and where to find help with your application. There will be an open Q&A with attendees after the presentation. To attend this event register online.

The U.S. Department of Treasury's website is a portal for information about a variety of assistance programs. 

American Rescue Plan Act of 2021

The coronavirus relief package, known as the American Rescue Plan, includes funding to support businesses that have been negatively impacted by the COVID-19 pandemic. The legislation authorizes the implementation of support programs:

• $15 billion in Economic Injury Disaster Loans (EIDL) grants, with grants of up to $10,000 per small business.
• Additional $7.25 billion in expanded Paycheck Protection Program (PPP) funding and increased eligibility to nonprofits and digital media companies. 
• Over $28 billion to support restaurants and bars, with grants applied toward payroll, mortgage, utilities, food and beverage expenses, and paid sick leave. These grants will be capped at $10 million per entity or $5 million per location. 
• An additional $1.25 billion for the Shuttered Venue Operators Grant program, and clarifies applicants can access both the Shuttered Venue Operators Grant and the PPP loan.
• $39 billion in supplemental funding for child care, which will help child care providers keep their doors open and reduce costs for struggling families.

Federal PPP and EIDL Resources

The U.S. Congress and the President created the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and other legislation which released funds to provide financial relief to businesses negatively affected by COVID-19.  The legislation created the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. Businesses negatively affected by the COVID-19 outbreak are encouraged to contact financial institutions and the U.S. Small Business Administration (SBA) to learn about the programs and how to apply for the loans and grants. The SBA is still accepting new EIDL applications for loans (not forgivable). Learn more and apply online.

Additional Information

• The Small Business Administrate and U.S. Department of Treasury have answers to frequently asked questions (updated Oct. 7, 2020).
• The US Chamber of Commerce provides a summary of the CARES Act’s provisions.

Employee Retention Tax Credits

Businesses are eligible for an employee retention tax credit if operations were fully or partially suspended because of a COVID-19 shutdown order, or gross receipts declined by more than 50% compared to the same quarter in the prior year. Eligible businesses can get a refundable 50% tax credit on wages up to $10,000 per employee, or $5,000. The credit can be obtained on wages paid or incurred from March 13, 2020 to Dec. 31, 2020. Businesses that receive a Paycheck Protection loan are ineligible for the tax credit.

The Internal Revenue Service (IRS) has posted updated FAQs providing answers regarding the Employee Retention Credit under the CARES Act. The Employee Retention Credit encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

Energy Assistance

Eugene Water & Electric Board’s Small Business Recovery Program provides utility bill payment assistance for business and non-profit customers who have been financially impacted by COVID-19. EWEB’s program offers those who have accrued a past-due balance two different repayment options for bringing their accounts up to date over time. 

Non-Profit Support

Nonprofit Association of Oregon has collected information to help non-profits affected by COVID-19, including resources for business continuity and funding opportunities.

Lane County’s Business Information web page has information about federal and state resources. The County is the primary connection for our region to verify state and federal resources.