Small Business Loans Available
Governor Brown Declares Economic Disaster
The Small Business Administration (SBA) approved Governor Brown’s request for emergency loans for small businesses on Friday, March 20. Senators Ron Wyden and Jeff Merkley, along with other Oregon congresspeople wrote to the SBA pleading for the loan.
By declaring the State of Oregon as an “Economic Disaster,” this low-interest loan became available to businesses, renters and homeowners suffering from the economic impact of COVID-19. The loan offers up to $2 million in assistance to help overcome the temporary loss of revenue. Interest rates for small businesses are at 3.75% and non-profits’ interest rates are at 2.75% with long-term repayments.
Compass Commercial encourages and supports the success of our local businesses during these tough times. All of our brokers and property managers can easily be reached by email or cell for questions. Our property management maintenance team will continue to work in the field to ensure our managed properties are maintained. Our construction services team is still working and ready to help with any tenant improvements.