[OMS_MANAGERS] FW: Cares Act Update

[Liz Hannum]

I called around to all of our local banks today to try and see if I can
spread the word about their process for taking applications and they have
heard that the PPP is on hold for now.

The rumor is that the big 4 banks have backed out of the program until they
have time to create better guidelines. Our local banks are unsure that they
will have the capacity to participate in this program either. The only one
I found locally who is actually moving forward is USBank. They have an
inquiry process that allows you to get in the queue to put in an
application at some point in the future.

Anyone else having any better luck?

On Fri, Apr 3, 2020 at 1:25 PM HENRY Katie * OPRD via OMS_MANAGERS <
oms_managers at listsmart.osl.state.or.us> wrote:

> Hi All,
>
>
> Below is a CARES Act update from Travel Oregon regarding the Payroll
> Protection Program and the Economic Injury Disaster Loans.
>
>
>
> Hang in there.
>
>
>
> Also, Happy Birthday to Sheri! 😊
>
>
>
> Katie
>
>
>
> Katie Henry
>
> *Heritage Outreach Specialist*
>
> Oregon Heritage
>
> Oregon Main Street
>
> Oregon State Historic Preservation Office
>
> (503) 986-0671
>
> 725 Summer St NE, Ste C - Salem, OR 97301
>
> www.oregonheritage.org
>
> www.oregonmainstreet.org
>
> www.facebook.com/OregonHeritage
>
> Oregon Heritage Exchange Blog <https://oregonheritage.wordpress.com/>
>
> weekly Heritage News Listserv
> <http://listsmart.osl.state.or.us/mailman/listinfo/Heritage>
>
>
>
>
>
> Hi Everyone,
>
>
>
> Travel Oregon was on a call with US Travel late this morning and was
> provided an update on federal CAREs Act programs for small businesses.
>
>
>
> US Travel confirmed that the Payroll Protection Program
> <https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp>
> (PPP) opened today (April 3) through the US Small Business Administration
> (SBA) and that funding for the program was capped at $349B nationally. They
> advised that if businesses want to participate in the program, that they
> fill out the paper work as soon as possible and work with approved lenders
> to ensure their loan application is processed.
>
>
>
> Travel Oregon also learned that Economic Disaster Injury Loans
> <https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance>
> should be utilized as well as it is possible to apply for these funds
> directly through SBA (it is not necessary to go to a SBA lending bank like
> the PPP). Businesses are able to participate in both the EDIL and PPP*.
> Make sure to do your research online to determine which program is best for
> your business or if you should participate in both programs.
>
>
>
> *501c6 businesses are NOT currently eligible for PPP. US Travel is aware
> of this challenge and is talking to federal leadership about this.
>
>
>
> Business Oregon has also launched a Small Business Resource Navigator
> webtool to help businesses access information. Find that tool here
> <https://www.oregon4biz.com/Coronavirus-Information/>.
>
>
>
> Please let me know if you have any questions. Yours in partnership.
>
>
>
>
>
> *Lisa Itel | Director, Global Strategic Partnerships*
>
>
>
> Travel Oregon/Oregon Tourism Commission
>
> 530 Center Street NE, Suite 200 | Salem, OR 97301
>
> D: 503.967.1564 | O: 971.717.6205
>
> Email: *lisai at TravelOregon.com <lisai at TravelOregon.com>*
>
> TravelOregon.com <http://traveloregon.com/> | Industry.TravelOregon.com
> <http://www.industry.traveloregon.com/>
>
> [image: signature_1742549402]
> <https://industry.traveloregon.com/opportunities/marketing-co-ops-toolkits/toolkits/covid-19-toolkit/>
>
>
>
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-- 
Liz Hannum
Executive Director

Downtown Oregon City Association
814 Main Street
<https://maps.google.com/?q=814+Main+Street+Oregon+City,+OR+97045&entry=gmail&source=g>
Oregon City, OR 97045
<https://maps.google.com/?q=814+Main+Street+Oregon+City,+OR+97045&entry=gmail&source=g>

liz at downtownoregoncity.org <jon at downtownoregoncity.org>
Office (503) 802-1640
Direct (503) 802-1638

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