EUGENE, Ore – Oregon businesses that missed out on Payroll Protection Program funding last week should prepare now to apply for the next round of funding for the program. The Oregon Small Business Development Centers are available to support businesses access federal assistance programs with no-cost, confidential advising from business experts.
Congress is expected to pass a $484 billion funding package on Thursday that includes additional funding for the Payroll Protection Program. This funding is expected to be allocated by the Small Business Administration quickly.
“We have heard from many business owners across Oregon who missed the previous PPP funding. Right now is the time to prepare this application, to check in with your lender and to get help,” said Mark Gregory, state director of the Oregon Small Business Development Center Network. “If you need help, our Centers are a phone call away. Our expert advisers know the PPP and we can help explain the requirements and whether this program is a good fit for a business.”
If a business has applied for PPP funding through a lender (usually a bank or credit union), and does not yet have a PPP number assigned by the SBA, the Oregon SBDC Network recommends the business owner contact their lender.
“Ask your lender if your application is still in the cue for the PPP program, and if there are any additional steps you need to take before they can submit your application to the SBA,” said Gregory. “Be specific. If your lender can’t answer your questions, call your SBDC. Don’t wait. We want to make sure you have the information you need to make the best decisions for your business when you still have options.”
If a business owner is not eligible for PPP or does not receive funding, there are other areas where the SBDC can help.
Business owners should visit https://bizcenter.org/centers to find their center and speak with an adviser.
Oregon’s Small Business Development Centers are the largest business assistance provider in Oregon. Centers are hosted at all 17 community colleges, Southern Oregon University and Eastern Oregon University. The Oregon SBDC Network is funded through a cooperative between the U.S. Small Business Administration, Business Oregon, and other private and public partners.
OSBDCN is hosted by Lane Community College in Eugene.
For more information about Lane Community College:
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Lane Community College educates over 25,000 students annually at six locations across Lane County and online. Students and alumni from all 50 states and 79 countries create more than an $850 million dollar impact on the local economy, helping to support more than 13,000 local jobs. Lane provides affordable, quality, professional technical and college transfer programs; business development and employee training; academic, language and life skills development; and lifelong personal development and enrichment courses.