Eligible small businesses can now submit Paycheck Protection Program (PPP) First and Second Draw applications to any participating PPP lender starting today.
What’s the difference between a First Draw and a Second Draw PPP Loan? In general, a First Draw PPP Loan is for eligible borrowers who did not receive a PPP loan before the program closed in August 2020. A Second Draw PPP Loan loan is for certain eligible borrowers that previously received a PPP loan, generally have 300 employees or less, and have suffered a 25-percent reduction in gross receipts.
Other Coronavirus Relief for Small Businesses
Low-interest Economic Injury Disaster Loans (EIDL) provide working capital to small businesses, non-profits and agricultural businesses impacted by the COVID-19 Pandemic.
Click here for details and to apply now.
The Shuttered Venue Operators Grant program will provide eligible organizations who’ve had a reduction in revenue due to the COVID-19 pandemic an opportunity to apply for up to a $10 million grant.
To schedule an appointment for free and confidential business advising, contact the Umatilla Electric Cooperative’s Business Resource Center at 541-289-3000 or email uecbrc@gmail.com.
