The Umatilla Electric Cooperative Business Resource Center learned details of the second round of the Paycheck Protection Program funding.
Business resource center team members just recently participated in a webinar led by Small Business Administration officials.
The major takeaways are:
- The rollout will take place gradually
- Currently, the only portal available to apply is through MOFI
- The application and answers to frequently asked questions about the program including any changes are here.
- Funding will become available through smaller community lenders in the next couple of weeks, but SBA has not yet announced a specific date
- Those who have received PPP funding are eligible to re-apply but they must be able to demonstrate a 25% reduction in revenue
- Business owners who have not yet completed the forgiveness application are eligible to apply
- A substantial increase has been allowed for restaurants
For more information, contact the UEC Business Resource Center 541-289-3000 or firstname.lastname@example.org.