This page includes information about:
Grant and Loan Programs
Direct Payments to Taxpayers
Through the CARES Act, all taxpayers will receive direct payments if you made less than $99,000 as a single filer or $198,000 as a joint filer on the last tax returned you filed. See HERE for information about the direct payments program.
Coronavirus Small Business Resource Navigator
Governor Brown launched the Coronavirus Small Business Resource Navigator to help connect small businesses to financial support and information they need to stay in business through the COVID-19 crisis. There are potentially billions of dollars available from the federal CARES Act, and she wants Oregon businesses to get their fair share. Visit the website HERE.
Emergency Financial Resources for Child Care Providers
Child care providers across Oregon are experiencing significant challenges and facing difficult decisions as a result of the COVID-19 pandemic. To help providers remain in business through this uncertain time, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides loans and grants to small businesses with fewer than 500 employees. Nonprofit and for-profit child care providers (home and center-based) are eligible to apply for these funds. Self-employed family child care providers may also be eligible, but must submit documentation (potentially including payroll tax filings and income and expenses) to verify their eligibility. These grants and loans are open to all types of small businesses and are not specifically designed for the needs of the child care industry.
If you plan to apply for these funds, please note the US Department of Treasury hasn’t provided banks and credit unions with complete guidance about the terms and conditions for these grants and loans.
Currently available federal grants and loans (scroll down for more information on each of them):
See a Guide and Checklist linked here but we are first calling attention to one of the five main programs available, the Paycheck Protection Program (PPP). The PPP is expected to be the most popular program for child care providers and other small businesses. Given that PPP loans will be granted on a first-come, first-served basis and that there will not be enough for all eligible businesses, it is important to move quickly if your business/organization is eligible and interested.
Paycheck Protection Program (PPP)
PPP loans are intended to help small businesses retain workers during periods of temporary closure or significant slowdowns. The PPP is expected to be the most popular program for small businesses. The limited loan fund ($350 billion for businesses nationwide) will be granted on a first-come, first-served basis. It is important to move quickly if your business/organization is eligible and interested. Applications will be accepted until June 30, 2020.
Program details:
See a sample of the PPP loan application HERE.
Before Applying for the PPP loan, read the PPP section of this site HERE.
If you are a single-owner LLCs, see an article HERE that helps guide you though the numbers requested from your taxes for the PPP application.
To apply for a PPP loan:
1. Contact your bank or credit union TODAY and ask if they participate in the 7(a) program. (See a list of banks that are participating and accepting applications HERE.)
2. You may expect to produce the following documentation during your application:
Additional Information about the PPP:
Paycheck Protection Program: What Child Care Programs Need to Know (PDF) and
Programa Paycheck Protection: Lo que los programas de cuidado infantil deben saber (PDF)
Emergency Economic Injury Disaster Loan (EIDL) Program
These funds are available through December 30, 2020.
Program details:
Additional Information about the EIDL:
Economic Injury Disaster Loan Program: What Child Care Programs Need to Know (PDF)
Economic Injury Disaster Loan (EIDL): Lo que los programas de cuidado infantil deben saber (PDF)
Refundable Employee Retention Credit
Program details:
For more information about grants and loans for small business and child care related COVID-19 resources, please read these materials:
- financial assistance for child care providers (including the federal PPP and EIDL opportunities)
- direct payments to all taxpayers
- grants and loans (for both for profit and nonprofit child care businesses)
Grant and Loan Programs
- Oregon Community Recovery Fund - grants for Oregon nonprofits that are particularly affected by the outbreak of COVID-19. Apply HERE.
- Companies and Foundations Offering Grants in Oregon & SW Washington
- The Women's Foundation of Oregon Grants - up to $5,000 grants to gender-specific and culturally responsive nonprofits. You must be a 501(c)3 nonprofit or be fiscally sponsored by one. Apply HERE.
- Seven Companies Offering COVID-19 Relief Funds for Diverse Business Owners
- Portland COVID-19 Emergency Household Stabilization Funds - Households can apply for $250 in emergency assistance beginning Monday, April 27 at 10am by contacting 2-1-1 or going to the link HERE.
Direct Payments to Taxpayers
Through the CARES Act, all taxpayers will receive direct payments if you made less than $99,000 as a single filer or $198,000 as a joint filer on the last tax returned you filed. See HERE for information about the direct payments program.
Coronavirus Small Business Resource Navigator
Governor Brown launched the Coronavirus Small Business Resource Navigator to help connect small businesses to financial support and information they need to stay in business through the COVID-19 crisis. There are potentially billions of dollars available from the federal CARES Act, and she wants Oregon businesses to get their fair share. Visit the website HERE.
Emergency Financial Resources for Child Care Providers
Child care providers across Oregon are experiencing significant challenges and facing difficult decisions as a result of the COVID-19 pandemic. To help providers remain in business through this uncertain time, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provides loans and grants to small businesses with fewer than 500 employees. Nonprofit and for-profit child care providers (home and center-based) are eligible to apply for these funds. Self-employed family child care providers may also be eligible, but must submit documentation (potentially including payroll tax filings and income and expenses) to verify their eligibility. These grants and loans are open to all types of small businesses and are not specifically designed for the needs of the child care industry.
If you plan to apply for these funds, please note the US Department of Treasury hasn’t provided banks and credit unions with complete guidance about the terms and conditions for these grants and loans.
Currently available federal grants and loans (scroll down for more information on each of them):
- Paycheck Protection Program (PPP)
- Economic Injury Disaster Loan (EIDL) Program
- Refundable Employee Retention Credit
See a Guide and Checklist linked here but we are first calling attention to one of the five main programs available, the Paycheck Protection Program (PPP). The PPP is expected to be the most popular program for child care providers and other small businesses. Given that PPP loans will be granted on a first-come, first-served basis and that there will not be enough for all eligible businesses, it is important to move quickly if your business/organization is eligible and interested.
Paycheck Protection Program (PPP)
PPP loans are intended to help small businesses retain workers during periods of temporary closure or significant slowdowns. The PPP is expected to be the most popular program for small businesses. The limited loan fund ($350 billion for businesses nationwide) will be granted on a first-come, first-served basis. It is important to move quickly if your business/organization is eligible and interested. Applications will be accepted until June 30, 2020.
Program details:
- 8 weeks cash assistance for wages, health benefits, some paid leave, mortgage interest, rent, utilities, interest on other debt.
- Borrow up to 2.5 times monthly payroll or $10 million (whichever is less), 4 percent interest maximum.
- Loan may be forgiven if at least 75 percent of the loan amount is used for payroll.
- If a business receives an EIDL loan or cash advance and a PPP loan, the amount forgiven will be reduced by the value of the cash advance.
- Any remaining portion of the loan not immediately forgiven is automatically turned into a 2-year loan with an interest rate of 1 percent. Loan payments will be deferred for 6 months, during which time interest will accrue.
- Documentation will be required to verify staff and wages and payments made on mortgage, rent, or utilities.
See a sample of the PPP loan application HERE.
Before Applying for the PPP loan, read the PPP section of this site HERE.
If you are a single-owner LLCs, see an article HERE that helps guide you though the numbers requested from your taxes for the PPP application.
To apply for a PPP loan:
1. Contact your bank or credit union TODAY and ask if they participate in the 7(a) program. (See a list of banks that are participating and accepting applications HERE.)
- Applications may be more likely to be approved by a lender who knows you, your business/organization and your banking history.
- If your bank does not participate, ask them to connect you to a bank or credit union that does.
- If you are not able to receive a direct referral from your bank or credit union, click on this link to view the top 100 SBA 7(a) participating financial institutions.
2. You may expect to produce the following documentation during your application:
- Paycheck Protection Program Application Form (A sample is linked here.)
- SBA form 1919 & 1920
- 2019 IRS forms (tax return or 990) or 2018 forms (if you haven’t yet filed 2019 taxes)
- Complete end-of-year income, expense, and asset statements with payroll detail
Additional Information about the PPP:
Paycheck Protection Program: What Child Care Programs Need to Know (PDF) and
Programa Paycheck Protection: Lo que los programas de cuidado infantil deben saber (PDF)
Emergency Economic Injury Disaster Loan (EIDL) Program
These funds are available through December 30, 2020.
Program details:
- Forgivable emergency cash advance of up to $10,000 for payroll, employee sick leave, rent, and other business obligations.
- Loans up to $2 million with 3.75 percent interest rate (2.75 percent for nonprofits) and deferment up to 4 years. Loans below $25,000 do not require collateral.
- Businesses that receive an EIDL loan (between January 31, 2020, and April 3, 2020) can apply for a PPP loan to cover different expenses.
- Funds cannot be used for qualified sick and family leave wages if the business is also taking a tax credit for those costs under the Families First Coronavirus Response Act.
- Apply online: https://covid19relief.sba.gov/
Additional Information about the EIDL:
Economic Injury Disaster Loan Program: What Child Care Programs Need to Know (PDF)
Economic Injury Disaster Loan (EIDL): Lo que los programas de cuidado infantil deben saber (PDF)
Refundable Employee Retention Credit
Program details:
- Fully refundable tax credit for employers.
- Covers up to 50 percent of qualified wages (including allocable qualified health plan expenses) for businesses with significant gross receipt loss due to COVID-19. Applies to wages paid after March 12, 2020, and before January 1, 2021.
- For employers with 100 or fewer employees, the credit is based on wages paid to all employees, regardless if they worked or not. If the employees worked full time and were paid for full time work, the employer still receives the credit.
- Cannot be combined with the Paycheck Protection Program.
- Employers will report their total qualified wages and the related credits for each calendar quarter on their federal employment tax returns, usually Form 941, Employer's Quarterly Federal Tax Return.
- Employers can also request an advance of the Employee Retention Credit by submitting Form 7200. Form 7200: https://www.irs.gov/pub/irs-pdf/f7200.pdf Instructions for form 7200: https://www.irs.gov/pub/irs-pdf/i7200.pdf
For more information about grants and loans for small business and child care related COVID-19 resources, please read these materials:
- Coronavirus Resources for Child Care Providers
- Forgivable Loans for Child Care Providers Through the CARES Act
- Small Business and Covid-19
- Explainer- Small Business Support in the CARES Act
- https://info.childcareaware.org/coronavirus-updates
- U.S. Small Business Administration- Portland office