COVID-19 UPDATES


6/21/20

SBA has a new tool called Lender Match which is a free online tool that connects small businesses with SBA-approved CDFIs and small lenders. Do not use if looking for Disaster loans.

Check out MKBK LLC’s explanation of the New PPP Forgiveness Application. This is a very accessibly, local resource.



6/5/20


    • Extend PPP through December 31, 2020

    • Extend the 8 week covered period to 24 weeks

    • Modify the forgiveness requirement to require borrowers to use at least 60 percent of the loan amount for payroll costs, and may use up to 40 percent for eligible non-payroll costs 

    • Create a safe harbor in which the amount of loan forgiveness is determined without regard to a reduction employees

    • Ensure access to payroll tax deferment for businesses that take PPP loans


5/28/20



5/21/20

  • ︎Webinar - The Art of Numbers: Taxes for Creatives - presented by Shift Accounting LLC and hosted by the Tannery Arts Center in Santa Cruz, CA.
This 2hr webinar goes thru Business Structure, Small Business taxes, Income and Expense categories, Recordkeeping tips, Quarterly Tax payments, Issuing 1099-MISC, Letters from the IRS, etc. etc. This is geared towards California-based small business, but I do have slides for Oregon-specific businesses for those who are interested. Email me thru Shift. The link is thru Facebook, but you don’t have to have Facebook to watch the video. For the video, click HERE. *Pro-tip: Fast forward thru the first 7 minutes..there were some technical difficulties ︎.

     
  • ︎If you have questions about the Stimulus Check from the IRS, trying calling 800.919.9835.



5/18/2020

  • Base Benefits Calculator for Oregon “Self Employed” Unemployment click HERE. As far as I know, everyone is getting the $205/week minimum amount for the time being and then Unemployment will use the documentation provided (aka Schedule C for Independent Contractors, Wages for S-Corporation Owners, K1 for Partnerships, etc) thru your application to assess whether you should get more benefits. I don’t know how or when this will happen though ︎.




5/16/2020

Paycheck Protection Program (PPP) - What is it??? 


  •         SBA explanation of the PPP
  • Kelli Loo CPA has an incredible blog and the most accessible explanation of the PPP, as well as a calculator to help you figure out how much PPP you can access and what would be forgivable HERE
  • American Society of Media Photographers has a great blog with regular updates re: PPP and other information for small business owners HERE 

  • Lenders Accepting Paycheck Protection Program Applications in Oregon updated 5/14/2020.


  • Paycheck Protection Program Forgiveness Application just released.  ︎ Max Maher made a super helpful instructional video to help you fill out the Forgiveness Application HERE. (AS OF 6.3.20 THE PPP FORGIVENESS APP WILL BE CHANGING. STAY TUNED.)

  • Slides from a Webinar hosted by the Small Business Development Commission (SBDC) on 5.20.20 re: PPP and Step-by-Step thru the Forgiveness Application HERE.






05/07/2020

Concerned about Forgiveness of the Paycheck Protection Program Loans? See resources below:


    • Forgiveness Calculator created by CPA Firm and updated as of 4/28/2020 click HERE

    • CAREs Act Info re: PPP - pages 12-14 talk about Forgiveness click HERE

︎Health Insurance Marketplace Coverage and Coronavirus - for more info click HERE


05/06/20

︎SPREADSHEET FOR TRACKING INCOME AND EXPENSES


  • This spreadsheet is useful for Unemployment purposes, SBA funds, Tax Preparation and Business Planning. Page 1 are the Instructions, Pages 2-13 are the Months of the year and Page 14 is the cumulative Profit and Loss. Please email if you have any issues with the spreadsheet. 

    • Excel version (most compatible) is HERE 

    • Numbers version (make sure to use the most updated version of Numbers) is HERE



05/04/2020

Oregon Unemployment for the Self Employed and people who usually aren’t eligible:

 
  • For the application click HERE for more info. FYI there are 2 applications: one for those who already started and claim and one for those who have not.
  • Pandemic Unemployment Assistance FAQ is HERE.
  • Instructions for filing the PUA Application offered by Unemployment HERE.      
  • Instructions for filing the PUA WEEKLY Claim Application HERE.
  • For questions directly related to Oregon Unemployment, please email: 
    OED_COVID19_Info@oregon.gov
    OED_UI_Info@oregon.gov
  • To fax your Oregon Unemployment Application and Documents you can sign up for a free trial of Hello Fax HERE.
  • ︎On my 05/01/2020 you can find a link to an instructional video made by Asset to the Resistance on “How to Fill out the PUA Application” (we’re doing our best..)


05/02/2020

Guide for Nonprofit COVID-19 Financial Relief click HERE.



05/01/2020

Happy May Day! For more info about the history of May Day written by the Industrial Workers of the World (IWW) click HERE.

︎Asset to the Resistance “How to fill out the Pandemic Unemployment Assistance Application” for folx with self-employment income (Schedule C, 1099, Partnership, S-Corp employee owner who receives wages). For video click HERE. You will need to scroll down to “Webinars” to find the link.
︎UPDATE TO WEBINAR ABOUT PUA: "We believe one of Brian's statements on the confusing topic at the bottom of page 4, question #2 re "availability for work" might have been made in error - the state apparently allows - and wants! - people to answer "YES" to this question even if one *can't* work due to stay at home order of biz closure - the state has said one "will not be deemed unavailable for work" because they are wisely "staying in their home due to risk of the novel coronavirus". In other words, you are available for work legally speaking but not in practice and that's a-ok.

Incredible resource for service industry workers’ mental health during the time of COVID-19 created by Dr. Karen Hixson (Karen Hixson LPC, LLC and Keystone Commons PDX) and Caryn Nelson from Guilder Coffee. For the document click HERE.

*NEW* Mutual Aid resource in Portland, OR, called Pool Resources. For more info click HERE. And check them out on ︎ @pool_resources

︎For more info about PPP and EIDL check out the Money Witch Podcast, click HERE.


04/29/2020

  • Here are some great resources for getting info about Student Loans and the CARES Act:




04/28/2020

  • Follow-up from Asset to the Resistance Virtual Study Hall, including Slides with information about Unemployment, PPP, EIDL and Withholding payments for Student Loans, Mortgage, Rent, Utilites, etc. ︎Video recording will be updated soon!




04/27/2020

  • For Legal Resources check out Rational Unicorn Legal Services They are an Oregon-based law firm that practices community business law for everyone in the community. You can subscribe to their newsletter HERE.
       
  • COVID-19 Eviction Moratorium Information for Multnomah County - Guide and Frequently Asked Questions (Spanish translation as well)

  • ︎Tonight at 5pm! Asset to the Resistance (local grassroots group made up of radical money people) virtual Q&A event. Topics covered: tax changes under the CAREs Act, EIDL, PPP Loans, Unemployment and just about anything else having to do with finances and COVID-19. For details check out IG @assettotheresistance or click HERE. This is a free event, put AR asks that you pay it forward if you have the means. They offer suggestions on their website.

  • ︎Here is a link for a Spreadsheet for Tracking Income and Expenses. The spreadsheet will help you create a simple Profit and Loss statement for each month of the year, as well as an annual Profit and Loss. This is a great tool for helping you understand your numbers, as well as preparing your taxes and sharing your financials with banks, etc. 

  • Tons of helpful resources offered by the Money Witch, including a video that explains PPP and EIDL Loans from the SBA (PPP and EIDL explained below on 4/26/20) - Money Witch offers Intuitive Financial Coaching, Taxes, Education for Financial Healing, and Business Alchemy. Video can be found on Money Witch’s Instagram Account ︎ @money.witch

04/26/2020 



  • ︎ Kelli Loo CPA - Probably the best, most accessible explanation of the EIDL, PPP and a calculator to help you figure out how much PPP you can access and what would be forgivable. Her blog is amazing and very easy to read.   Make this your first stop.


    • Updated regularly regarding regulations due to COVID-19.    
    • Includes example letters to send to your landlord
    • Information about Multnomah County and Statewide changes as well as a recorded clinic hosted by Don’t Shoot PDX

    • Point West - $2500 0% Loan and generally, Point West offers lending and other services to immigrants under it’s “Banking Without Borders” philosophy

    • OnPoint - $2500 0% Loan; Loan Deferment

    • Advantis - Relief on 1st Mortgage, HELOC (Home Equity Line of Credit), Loan Payments




04/20/2020

︎ BELOW YOU WILL FIND RESOURCES ORGANIZED BY TOPIC, SO KEEP SCROLLING DOWN FOR DETAILS. THE TOPICS INCLUDE:


  • Tax Changes (including Employee Retention Credit and Stimulus Check)
  • Unemployment (including eligibility for the self-employed)
  • EIDL and PPP under the CARES Act (including info about businesses without employees)
  • Additional resources for Loans, Grants
  • SBA Lenders in Oregon and some private lenders (work in progress)




More information provided by local accountants:


  • Webinar hosted by Jenna Goldin (me), Michael Jonas (Rational Unicorn Legal), Anne Burgess (In or Out Tax Service Inc.) and Marisa Danley (Inclusion Tax Service Inc.









Tax Changes explained:



  • IRS Covid Response
  • Economic Impact Payments (ie stimulus check)
  • Enter your bank info here if you are filer but the IRS doesn’t have your routing and account numbers
  • File a Simple return here if you don’t need to file taxes because your income is below the threshold



IRS updates about COVID-19


Changes explained below:

As many of you may have heard, the IRS and Oregon have adjusted their deadlines to provide economic relief for individuals and businesses affected by COVID19. Although the deadlines have changed, the IRS is recommending that taxpayers who expect a refund file their taxes as soon as possible.

The following April 15th filing and payment due dates have been moved to July 15th, with no extension needed. You can pay your balance due by July 15th with no penalties or interest.

  • IRS/Federal individual 2019 tax return

  • Oregon individual 2019 tax return

  • IRS Quarter 1 estimated tax payment

  • All City Taxes: Portland Arts Tax, Residential Rental Tax, City of Portland/Mult Co Business Tax

  • TriMet Self Employment Tax

  • Trust, C-Corporations, and Estate returns normally due 4/15

  • City of Portland/Multnomah County Business Tax

*as of 4.10.20 the IRS Quarter 2 estimated tax payment is now due 7.15.20

In addition, the IRS has moved the deadline for making 2019 IRA contributions and HSA contributions to July 15th, 2020.

The following due dates have not changed:

  • April 15th due date for Oregon, Quarter 1 estimated tax payment

  • March 15th  due date for S Corporation and Partnership returns

  • October 15th due date for extended tax returns.

  • Extensions filed by July 15th will have until the normal due date of October 15th to file their return.


INDIVIDUAL TAX PROVISIONS


(there are several more including taxpayers who file the Standard Deduction can take Charitable Donations up to $300 as an Adjustment to Income on their 2020 taxes AND for those who have HSAs and FSAs, menstrual products are now considered Qualified Medical Expenses!)

Stimulus Payments

US residents are eligible for a $1,200 rebate ($2,400 for married couples) with an additional rebate of $500 per child. The rebate phases out beginning at AGI of $75,000 for single taxpayers, $150,000 for married taxpayers, and $112,500 for head of household taxpayers. Payments will be based on 2019 tax returns if filed, or 2018 tax returns if 2019 is not filed yet.

Individuals can locate their AGI on line 8b of their federal tax return (Form 1040). Visit this Stimulus Check Calculator to calculate how much you can expect to receive.

*This is not going to negatively affect your 2020 taxes in any way. If you get the full payment of $1200 (as a Single filer) in 2019 and you happen to earn more money on your 2020 taxes then you do not have to pay anything back, nor will it impact your taxes due. If you end up not getting the full $1200 due to your income level from 2019/2018 taxes, and you income drops when you file 2020 taxes then you are eligible to receive the difference. The payment is essentially a prepayment of a rebate that will be reconciled on your 2020 tax return (similar to 2009 Making Work Pay Credit).

**WARNING THIS IS TAKING FOREVER (as of 4.15.20)

For non-filers and folx who file taxes, but need to get their bank account information to the IRS for direct deposit, please check out this site: https://www.irs.gov/coronavirus/economic-impact-payments



Special rules for retirement accounts


Retirement Distribution Planning Coronavirus-related distributions get three key tax benefits:

  • Not subject to 10% early withdrawal penalty
  • TP can pay coronavirus-related distributions back within 3 years of the distribution
  • TP can include coronavirus-related distributions in income in equal amounts in 2020, 2021, and 2022.

**Also, loan limits from certain retirement plans are increased from 50,000 to 100,000 for coronavirus-related relief.

What is a coronavirus-related distributions?

A coronavirus-related distribution is one made between 1/1/2020 and 12/31/2020 to:
  • An individual diagnosed with COVID-19 with a CDC approved test (or his or her spouse/dependent)

  • An individual who experiences adverse financial consequences due to COVID-19 as a result of quarantine, furlough, laid off/work hours reduced, unable to work due to lack of childcare, or closing/reducing of hours of business owner or operated by TP.



RMD Rules Temporarily Waived


The required minimum distribution (RMD) rules for certain defined-benefit contribution plans and IRAs are waived for the 2020 calendar year.



Installment Agreement Payments Suspended


Payments between April 1st, 2020 and July 15th, 2020 are suspended and the IRS will not default on installment agreements during this period.

**Taxpayer needs to initiate the suspension on their own directly with their bank. Then, reactivate it 2 weeks prior to the beginning of your agreement re-starting after 7.15.20.



Increased income limitation on charitable contributions


Currently, charitable deductions are limited to 50% of an individual’s AGI. This limit can be suspended for certain cash contributions made in 2020 if an election is made. For corporations making certain cash contributions in 2020, the 10% limit generally is increased to 25%.



Exclusion from income of employer payments of student loans


For 2020, employers may contribute up to $5,250 toward an employee’s student loan and the payment will not be taxable to the employee. The cap applies to this new student-loan repayment benefit as well as other educational assistance.



Tax Provisions and Funding For Small and Medium Businesses


Net operating losses
This provision allows for NOLs arising in tax years 2018, 2019, or 2020 to be carried back 5 years, which is favorable because it allows carrybacks to pre-TCJA years when the top corporate tax rate was 35%. It also removes the 80% of taxable income limitation, retroactively, so that NOLs can fully offset taxable income in 2018, 2019, and 2020, regardless of the year in which they arose; however, in 2021, the 80% rule goes back into effect, including for tax years 2018 through 2020. The bill would not change the rules for capital losses, which can be carried back 3 years and forward 5 years.

Qualified Improvement Property (i.e. leasehold improvements)
QIP is retroactively now 15-year property instead of 39-year property. QIP is now eligible for bonus depreciation. It was always eligible for Section 179 expensing. Applies as if it was included with the Tax Cuts and Jobs Act (you can go back to 2018 and 2019 to make these adjustments).

Employee retention credit for employers subject to closure due to COVID-19
**This seems like it could work if you are still in business and making payroll payments, but have lost income.

From Chamber of Commerce - https://www.uschamber.com/report/guide-the-employee-retention-tax-credit

Who is ELIGIBLE?

  • Private employers, including non-profits, carrying on a trade or business in 2020 that:

  • Have operations partially or fully suspended as a result of orders from a governmental authority due to COVID-19, or

  • Experience a decline in gross receipts by more than 50% in a quarter compared to the same quarter in 2019 (eligibility ends when gross receipts in a quarter exceed 80% compared to the same 2019 quarter)

How much is the TAX CREDIT?

This new employee retention tax credit is a 50% tax credit for the first $10,000 of compensation, including the employer portion of health benefits, for each eligible employee.

  •  Compensation does not include paid sick or family leave for which the employer is reimbursed under the Families First Coronavirus Response Act
  • The credit only applies to wages paid after March 12, 2020 and before January 1, 2021

WHICH EMPLOYEES COUNT toward eligibility?

  • For employers with more than 100 employees: Full-time employees who are (i) being paid but (ii) not providing service due to either a full or partial shutdown or a reduction in gross receipts count toward eligibility

  • For employers with 100 or fewer full-time employees: All employees, regardless of whether those employees are providing service, count toward eligibility

  • Employers may not claim the same employee for this credit and the Work Opportunity Tax Credit for the same period. In addition, employers may not claim the same wages for an employee under this credit and also under the employer credit in section 45S for FMLA

**I don’t believe that you can take this and the PPP so it’s good to look at your options before agreeing to take PPP funds when they become available.

IRS: https://www.irs.gov/newsroom/faqs-employee-retention-credit-under-the-cares-act



Delay of payment of employer payroll taxes


Employers and self-employed individuals can defer payment of the employer’s share (6.2%) of the Social Security payroll tax, but the deferred amount must be repaid in equal installments by 12/31/2021 and 12/31/2022.


2.  Unemployment Resources and Updates (Oregon-specific)


Unemployment

What is it? 
Unemployment insurance benefits is an employer-paid program that provides temporary financial assistance to workers who are unemployed through no fault of their own and meet Oregon’s eligibility requirements. In order to qualify for this benefit program, you must have worked in Oregon during the past 12 to 18 months and have earned at least a minimum amount of wages as determined by our guidelines. You must also be able to work, available for work and actively seeking new work each week that you are collecting benefits.

Typically, how long does it take?
  • Week one : Application submitted

  • Week two AKA Waiting Week : The Waiting Week is the first week on your claim in which you meet all eligibility requirements. You do not receive payment for your waiting week. Every unemployment account must have a Waiting Week before we can start making benefit payments. Important: You must claim the week in order for it to be your Waiting Week.

  • Week three : First payment issued by paper check

  • Week four : Second payment issued electronically

Expanded benefits (including the self employed)

Under the new law, state unemployment benefits have been expanded by an additional 13 weeks, for a total of 39 weeks. Regular state unemployment eligibility is typically 26 weeks. Benefits can range from $200-$550 a week, depending on the State.

Next, the federal government is giving out $600 a week, in addition to the state benefit. But in order to get the federal benefit, you first must be approved for state unemployment.

**UPDATES ABOUT THE SELF-EMPLOYED** as of 4.17.20

1. *UPDATES from Oregon Unemployment for the Self-Employed
*(I couldn’t get this in writing, but it’s the most info I’ve gotten in weeks)
Also, this is only specific to people who DO NOT pay into state unemployment tax. If you don’t receive payroll wages then it could mean you. If you get wages as an S-Corp owner then you likely DO NOT pay into State Unemployment because you are exempt as an owner-employee.

2. WHO is impacted?
  • Free-lancer, independent contractor, small business owner
  • Partnership owner
  • S-Corp Owner who pays themselves wages but does not pay State Unemployment tax

3. WHAT’S NEW?
According to the rep. at unemployment, if you have already been filing a claim, then you can keep filing (but you do not have to and it will not impact your unemployment if you stop).

If you have NOT filed a claim yet then please try and wait until the Unemployment site is ready to handle self-employed people.

4. WILL BENEFITS BE RETROACTIVE?
If you have been impacted by COVID-19, then YES! Whether you have filed a claim or not, once the Unemployment Dept. can establish the “Statutory Requirements” for determining what kind of income is eligible and how and when you lost money due to COVID-19, Unemployment might go back as far as 2.2.20 depending on the situation. Everyone will be different.

Benefits will be $205-$648/week for the State Unemployment base pay PLUS $600/week for the Pandemic Unemployment Assistance Payment from the IRS.

5. NOW WHAT?
  • Stop calling unemployment. Start calling Utilitiy Companies, Landlords, Mortgage Companies, State Reps and Senators to try and get support around delaying payments!!! No payments til we are paid!
  • If you haven’t filed your 2019 taxes, it might be a good idea to do so at this time. If anything, gather your income and expenses for proof of income for your claim.
  • Gather your year-to-date income and expenses for 2020 because this might help you prove to Unemployment how much income you have lost due to COVID-19.

6. ADDITIONAL RESOURCES:




3.  *PPP AND EIDL 


ROUND 2 of PPP will hopefully include folks without employees:
(From Bradford Tax Institute https://bradfordtaxinstitute.com/)

COVID-19: SBA Clarifies PPP Loan for the Self-Employed with No Employees
If you are self-employed, with no employees, you absolutely need to qualify for this loan and its forgiveness (think free money). Here are three questions and answers that you need to know. Read on.

Question 1. I have income from self-employment, no employees, and file a Form 1040, Schedule C. Am I eligible for a Payroll Protection Program (PPP) Loan?

Answer 1. You are eligible for a PPP loan if
  • you were in operation on February 15, 2020;
  • you are an individual with self-employment income (such as an independent contractor or a sole proprietor);
  • your principal place of residence is in the United States; and
  • you have filed or will file a Form 1040 Schedule C for 2019.

Question 2. Since I have no employees, how do I calculate the maximum amount I can borrow and what documentation is required?

Answer 2. Follow the steps below:

  1. Find your 2019 IRS Form 1040 Schedule C line 31 net profit. (If you have not yet filed your 2019 tax return, don’t fret, fill out the Schedule C now. You need it for the loan.) If the net profit amount is over $100,000, reduce it to $100,000.
  2. Calculate the average monthly net profit amount (divide the amount from line 1 by 12).
  3. Multiply the average monthly net profit amount from line 2 by 2.5.
  4. In addition to your 2019 Schedule C to solidify your loan amount, you need documents to prove you are self-employed, such as a 2019 IRS Form 1099-MISC, invoice, bank statement, or book of record. You also must establish that you were in operation on or around February 15, 2020, with a 2020 invoice, bank statement, or book of record.

Question 3. What amount of the loan qualifies for forgiveness (remember, I don’t have any employees).

Answer 3. You are going to like this. With no employees, your loan forgiveness is

  1. eight weeks’ worth (8/52) of your 2019 net profit (yes, last year—from that Schedule C we used for the loan amount);
  2. mortgage interest paid during the covered period (eight weeks from loan receipt) on real or personal business property (the interest you deduct on Schedule C);
  3. rent payments during the covered period on lease agreements in force before February 15, 2020, to the extent they are deductible on Form 1040 Schedule C (business rent payments); and
  4. utility payments under service agreements dated before February 15, 2020, to the extent they are deductible on Form 1040 Schedule C (business utility payments).

The SBA will reduce your loan forgiveness by any COVID-19 qualified sick or family leave tax credit you claimed.

**Example:  Loan amount. Say your Schedule C shows $120,000 of net profit. Your limit is $100,000. Divide that by 12, and your monthly amount is $8,333. Multiply that by 2.5, and your loan amount is $20,833.

*American Society of Media Photographers has a great blog with regular updates re: PPP, EIDL, etc for small business owners - here’s the link for 4.14.20 PPP and EIDL updates https://www.asmp.org/covid-19/three-updates-to-ppp-and-eidl-for-april-14-2020/

* Kelli Loo CPA - (UPDATED REGULARLY) Probably the best, most accessible explanation of the EIDL, PPP and a calculator to help you figure out how much PPP you can access and what would be forgivable. Her blog is amazing and very easy to read. Make this your first stop.

**If you want to look into more resources after reading Kelli’s blog and the ASMP site then be prepared for a lot of jargon!

Here you go:
  • CARES Act Resource Doc
  • SBA Economic Injury Disaster Loan Assistance - Advance of up to $10,000, but ultimately based on the number of employees you have (includes yourself). Essentially, $1000/employee (includes sole prop owners), up to $10,000 maximum. Application takes about 10 minutes and *all self employed folks should apply! *if you are still in business and able to pay your employees then you might want to explore the
  • Employee Retention Credit - you can’t have both so it’s worth looking into before taking any funds
  • Paycheck Protection Loan Program - Within the Coronavirus Aid, Recovery and Economic Security (CARES) Act President Trump signed Friday is a $350 billion Paycheck Protection Program that will allow businesses and nonprofits with fewer than 500 employees to apply for loans to cover losses caused by the COVID-19 pandemic.  The amount any small business is eligible to borrow is 2.5 x their average monthly payroll expenses, up to $10 million. This amount is intended to cover 8 weeks of payroll expenses and any additional amounts for making payments toward debt obligations.
  • Loan Forgiveness Requirements -  Loans may be forgiven if businesses use the money to pay for payroll costs, salaries, benefits, mortgage interest, rent and/or utilities.  The forgiven amount would be equal to the amount actually paid for these expenses during the eight weeks following disbursement of the loan. Forgiveness will be scaled back if the business has a reduction in employees, salaries or wages.  *Not more than 25% of the forgiven amount may be for non-payroll costs. The PPP program is open until June 30, 2020, so businesses are encouraged to apply as quickly as possible as there is a funding cap and lenders will need time to process the loans.




VIDEOS ABOUT LOANS/GRANTS

Video Chamber of Commerce

Video about the SBA Loans and Grants

List of SBA Lenders (see list if you scroll down the page for Oregon Lenders and Private Lenders)

Pamphlet Chamber of Commerce



4.  Additional Resources for Loans, Grants and Support






5.  SBA Lenders in Oregon and Some Private Lenders (*updated 4.15.20)


  • Merkely’s List
  • Private Lenders (I haven’t vetted them, but they have been offering resources and they seem to have reasonable interest)
  • Paypal
  • Square
  • Lendio
  • Gusto Payroll Service has applications as well, sounds like they are a clearing house for other lenders

SBA Lenders
Our participating SBA Lenders serve all of Oregon and southwest Washington unless otherwise noted. For information visit sba.gov/or.

District Wide
  • Bank of the West Jacquline A. Ritchie 503-939-7837 jacquline.ritchie@bankofthewest.com bankofthewest.com
  • Banner Bank Walter McLaughlin 425-806-2881 wmclaughlin@bannerbank.com bannerbank.com
  • Beneficial State Bank Teri Karren-Keith 503-331-3785 tkarren-keith@beneficialstate.com beneficialstatebank.com
  • CapitalSource Brad Benson 503-698-4109 bbenson@capitalsource.com capitalsource.com
  • Celtic Bank Corporation Matt Diamond 877-280-2942 mdiamond@celticbank.com celticbank.com
  • Columbia State Bank Scott Bossom 503-279-3184 sbossom@columbiabank.com columbiabank.com
  • First Interstate Bank Amy Berger 541-617-3612 amy.berger@fib.com firstinterstatebank.com
  • Heritage Bank Christine Heckert 425-787-5549 christine.heckert@heritagebanknw.com www.heritagebanknw.com
  • HomeStreet Bank Aaron Smith 916-462-5041 aaron.smith@homestreet.com homestreet.com
  • JP Morgan Chase Yana Rogers 206-500-6319 yana.rogers@chase.com jpmorganchase.com
  • KeyBank Jennifer Fern 503-403-2160 jennifer_fern@keybank.com key.com
  • Lewis & Clark Bank Mark Ellingson 503-212-3112 mellingson@lewisandclarkbank.com lewisandclarkbank.com
  • Northwest Bank Buck Marshall 208-332-0755 buck.marshall@northwest-bank.com northwest.bank
  • Onpoint Community Credit Union is offering SBA Loans
  • Riverview Community Bank Robert Benke 360-258-3437 robertbenke@riverviewbank.com riverviewbank.com Seacoast Commerce Bank Joseph Cowles 541-521-7881 jcowles@sccombank.com sccombank.com
  • TBank Dave Painter 503-266-2344 dpainter@tbank.com tbank.com Umpqua Bank Joel Carey 503-906-4459 joelcarey@umpquabank.com umpquabank.com
  • Union Bank Mindy Tran 503-225-3673 mindy.tran@unionbank.com unionbank.com
  • US Bank Corey Werle - Portland 503-985-6203 corey.werle@usbank.com usbank.com
  • (I don’t think WF is taking any more applications) Wells Fargo Bank Jessica Beck 503-318-3988 jessica.beck2@wellsfargo.com wellsfargo.com

Bend
  • Mid-Oregon Credit Union Serving Central Oregon Mike Testerman 541-585-1879 mtesterman@midoregon.com midoregon.com

Clatskanie
  • Wauna Federal Credit Union Serving the Columbia Corridor John Moore 503-728-6117 john.moore@waunafcu.org waunafcu.org

Corvallis
  • Oregon State Credit Union Serving Greater Corvallis and the Central Coast Josh Whisenhunt 541-714-4161 jwhisenhunt@oregonstatecu.com oregonstatecu.com

Eugene
  • Citizens Bank Serving Greater Eugene Kate Salyers
  • 541-766-2256 ksalyers@citizensEbank.com citizensbank.com
  • Oregon Pacific Bank Serving Central/Southern Oregon Robert Edstrom 458-210-2016 robert.edstrom@opbc.com opbc.com
  • SELCO Serving Greater Eugene Express Eric Lind 541-744-7546 elind@selco.org selco.org
  • Summit Bank Serving Greater Eugene Ashley Horner 541-684-7511 ashley.horner@summitbanksba.com sbko.bank

Medford
  • Peoples Bank of Commerce Serving Southern Oregon Thomas Knox 541-774-7664 thomasknox@peoplesbankofcommerce.com peoplesbank.bank
  • Rogue Federal Credit Union Serving Southern Oregon Randall Mason 541-813-2021 rmason@roguecu.org roguecu.org

Portland
  • Clackamas Federal Credit Union Serving Greater Portland Katie Gillespie 503-496-3530 katie.gillespie@clackamasfcu.org www.clackamasfcu.org
  • Washington Trust Serving Greater Portland/southwest Washington Doug Wolford 509-353-5653 dwolford@watrust.com watrust.com
  • Salem Willamette Community Bank Serving Greater Salem Dave Takata 541-926-9000 DTakata@willamettecommunitybank.com willamettecommunitybank.com
  • Willamette Valley Bank Serving Greater Salem Alana Neads 503-485-2222 alana@wvbk.com willamettevalleybank.com

Vancouver
  • Columbia Community Credit Union Serving southwest Washington Juan Mendoza 360-619-3068 juanm@columbiacu.org columbiacu.org



Participating Certified Development Companies

Cascade Capital Funding
Serving Oregon and SW Washington 
University Station Office 
Cindy Kent
960 Broadway St NE, Suite 2
Salem, OR (503) 990-6868 
cindy@cascade.capital cascadecapitalfunding.com

CCD Business Development
Serving all Oregon
Roseburg Branch
522 SE Washington Ave., suite 111A
Theresa Haga
(541) 756-4101
t.haga@ccdbusiness.com
ccdbusiness.org

CCD Business Development
Serving all Oregon
Coos Bay Branch
540 Anderson Ave.
Theresa Haga
(541) 756-4101
t.haga@ccdbusiness.com
ccdbusiness.org

Evergreen Business Capital
Serving Oregon & Washington
1618 SW First Ave., suite 200 Portland
(800) 878-6613
evergreen504.com
Barbara Broudy
(503) 222-7496
barbara.broudy@evergreen504.com

Serving Portland Metro
Kerri Nelson
(503) 265-9294
kerri.nelson@evergreen504.com

Serving SW Washington
Gary Parker
(541) 513-7436
gary.parker@evergreen504.com

Serving Eugene area
GEODC

Serving all Oregon
2016 Airport Road
Pendleton
Susan Christensen
(541) 276-6745
susan.christensen@geodc.net geodc.net

Northwest Business Development Association
9019 E. Appleway, suite 200
Spokane Valley, WA
Debbie Shipman
(509) 458-8555 or (800) 540-1748 dshipman@nwbusiness.org
nwbusiness.org

Community Advantage Lenders
Evergreen Business Capital
District Wide
Angelica Partida
(206) 577-1435
angelica.partida@evergreen504.com
evergreen504.com

Valley Development Initiatives
Serving Oregon
John Safstrom
503-540-1612
jsafstrom@mwvcog.org
mwvcog.org

Participating Microlenders

Mercy Corps Northwest
Statewide Oregon and Washington
45 SW Naito Parkway
Portland
(503) 896-5070
info@mercycorpsnw.org
mercycorpsnw.org

Micro Enterprise Services of Oregon
Serving all Oregon and southwest Washington
4008 NE Martin Luther King Jr. Blvd.
Portland
(503) 841-3351
meso@mesopdx.org

Oregon Association of Minority Entrepreneurs
Serving all Oregon and southwest Washington
731 N. Hayden Meadows Drive
Portland
(503) 249-7744
oame.org