Cutting costs and boosting your income may be one way to get your financial life back on track if you've lost income during this challenging economic time. For many, additional income may come in the form of a side hustle, an activity you enjoy that can help you get back on your feet--outside of traditional 9-5 employment.
The SBA's Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program ran out of funds just 2 weeks after they were rolled out. The PPP and the EIDL are the two primary programs designed to help businesses suffering hardships due to coronavirus. Congress is expected to allocate additional funds for these two programs with an emphasis on the PPP which is designed to help the greatest number of small businesses. [More on the latest funding legislation.]
If you have not already received PPP funding and need to apply, here are a few important things to consider in this process.
In response to the economic crisis due to COVID-19, PCC SBDC and Global Trade Center is Open for Business Virtually. Our Oregon SBDC Network page is updated regularly with information related to emergency loans and other financial assistance, and we've highlighted four programs below.
Our community of small businesses and the partners who serve them is one of innovation, creativity, resilience and drive.
Without question, the COVID-19 pandemic is challenging many of our traditional approaches to small business services, including business advising and training. We are rapidly adapting the ways we bring together communities of small businesses as we learn and fortify together.