SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. (SBA PPP)
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The Small Business Association (SBA) will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), 501(c)(3) non-profit organizations, 501(c)(19) veterans organizations, or Tribal businesses (see sec. 31(b)(2)(C) of the Small Business Act) affected by coronavirus/COVID-19.
For businesses that cannot avoid laying off employees, they should inform their employees in writing to ensure the laid-off employee has documentation to request unemployment benefits and file a Worker Adjustment and Retraining Notification (WARN) with Oregon’s Rapid Response Dislocated Worker Unit. Click here for more information on WARN notices.
Local Bill Assistance
Central Lincoln PUD is now offering the Job Loss Assistance Program for residential Central Lincoln customers receiving unemployment benefits. Assistance funds are available on a first-come, first-served basis. For more information, click here to go to the Job Loss Assistance page on Central Lincoln's website.