Details of Next Paycheck Protection Program Funding Outlined

0
316

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 uecbrc@gmail.com.

LEAVE A REPLY

Please enter your comment!
Please enter your name here