Resources for Employers
Resources for employers
- Paycheck Protection Program: Businesses and nonprofits may apply under the Paycheck Protection Program (PPP) to borrow the lesser of $10 million or 250 percent of monthly expenses including salaries, wages, sick leave, rent and utilities. Businesses that retain their employees during the COVID-19 crisis can apply through their lenders to have 8 weeks of those expenses forgiven, converting the loans into grants that do not need to be repaid. These resources can be used in coordination with other COVID-financing assistance or any other existing Small Business Administration (SBA) loan program. The Small Business Administration has published information on its website for borrowers and the Treasury Department has collected relevant overviews, guidance, interim final rules, and more on their website.
- For a list of lenders participating in the Paycheck Protection Program, the Small Business Administration has released a guide, organized by state.
- Economic Injury Disaster Loan (EIDL) Program: The end-of-year-COVID-19 relief bill provides an additional $20 billion in targeted funding through the EIDL advance program to help small businesses and most private nonprofits meet their financial obligations and operating expenses. Small businesses and nonprofits can receive an advance of up to $10,000 when they apply for an SBA economic injury disaster loan. To learn more, please visit SBA’s EIDL Information Page.
- Business Counseling Services for Small Businesses: Oregon’s Small Business Development Centers and Women’s Business Center provide mentorship, guidance and expertise to small businesses. The stimulus provided these centers with increased resources and training to address COVID-19 related questions. Portland’s Small Business Development Center is operated by Portland Community College and Mercy Corps operates Oregon’s only Women’s Business Center.
- Work Share program: The Oregon Employment Department’s Work Share program may be able to help you prevent layoffs by providing partial Unemployment Insurance benefits to supplement workers’ reduced wages as their hours are reduced.
- Rapid Response Services: Oregon’s Higher Education Coordinating Commission provides rapid response services for employers to assist with the development and implementation of a strategy to help affected workers to return to work as quickly as possible.
- Federal Emergency Paid Sick Leave Requirements: The federal Families First Coronavirus Response Act requires employers to provide up to two weeks of fully-paid emergency sick leave to employees to self-quarantine, seek a diagnosis, or receive treatment for COVID-19. In order to offset the impact to small- and medium-sized businesses, employers are provided a refundable payroll tax credit to cover 100 percent of the cost of emergency paid sick leave wages. There is also a refundable income tax credit for self-employed individuals. These requirements apply to employers with fewer than 500 employees, state and local governments, and employers with employees who work under a multiemployer collective agreement. The Department of Labor has provided guidance for employers and a comprehensive list of questions and answers.
- Federal Paid Family Leave Requirements: The federal Families First Coronavirus Response Act also requires employers to offer 12 weeks of paid family leave for an employee with a minor child in the event of the closure of the child’s school or place of childcare. The first two weeks are unpaid, but the employee can overlap this with the two weeks of emergency paid sick leave. This benefit must replace at least two-thirds of the employee’s wages up to a maximum of $200 per day. In order to offset the impact to small- and medium-sized businesses, employers are provided a refundable paid family leave payroll tax credit that offsets 100 percent of employer costs for providing mandated paid family leave. The credit also offsets the employer contribution for health insurance premiums for the employee for the period of leave. These requirements apply to employers with fewer than 500 employees, state and local governments, and employers with employees who work under a multiemployer collective agreement. The Department of Labor has provided guidance for employers and a comprehensive list of questions and answers.