Portland spending $2 million to support small businesses

Mar 30 2020, 2:34 pm

Mayor Ted Wheeler announced on Monday that Portland’s Coronavirus Economic Taskforce has come to assemble a massive Small Business Relief Fund to help local companies survive the coronavirus pandemic shutdown.

Wheeler began his conference on Monday by thanking both frontline workers, and residents of Portland, who are sending thunderous adoration for those workers nightly, at 7 pm, by cheering and applauding from their patios and homes.

Speaking to the newly announced relief fund, Wheeler said, “Portland is a small business town.”

In partnership with Prosper Portland (the city’s economic development agency), the Small Business Relief Fund will offer support with roughly $2 million in funding.

The City of Portland will offer emergency grants for businesses, from $2,000 up to $10,000, while Prosper Portland shall initiate zero-interest loans of up to $50,000 for small businesses.

Applications are now open.

“This is a city where no one has to be alone, and we all have each other’s backs,” said Wheeler.

The Small Business Relief Fund comes on the heels of further stringent restrictions from the Oregon Government, a massive charity fund put together by the Portland Trail Blazers, and the differing of rent on commercial Portland business.

The mayor also made mention that the city and the state are expecting more financial relief from the federal government, in the wake of the large stimulus package recently signed by President Donald Trump.

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