With the COVID-19 virus continuing to impact businesses across the city, we want to keep you updated on the efforts Prosper Portland and the city are currently undertaking. We will continue to update this page with the latest news and links to resources.
If you are a small business, please sign up to receive the latest information about disaster relief resources and economic recovery tools.
SIGN UPAs of March 18, 2020
The health of our community, partners, colleagues and economy remains front of mind for all of us at Prosper Portland. We want to make sure you are aware of the actions we are taking to ensure the continuity of agency operations, as well as to address the economic impacts of the COVID-19 pandemic on Portland’s businesses and employees.
In light of the breadth and scope of the current crisis, Mayor Wheeler has convened an Economic Impact & Intervention Task Force to identify ways to help our city’s small and large businesses and their employees. The Task Force includes major employers and small businesses, front-line communities, labor, workforce development partners, and foundations – alongside key public partners from Multnomah County to Business Oregon. In the days and weeks ahead, you can expect to see regular updates as resources become available.
We are partnering with APANO to provide $150,000 in grants to businesses with Asian/Pacific Islander (API) ownership, particularly those within the Jade District, centered on Southeast 82nd Avenue and Division Street, which is home to many Asian-American business owners, some of whom have seen their revenue drop by as much as 60% for the last 6-8 weeks as a result of xenophobia.
Prosper Portland is prepared to offer a three-month deferral of loan payments to our borrowers who request it and whose business has experienced a decline in revenue of 10% or more. We’re prioritizing staff time to work with small, public-facing businesses with annual revenues under $1 million as quickly as possible.
We are offering our commercial tenants rent relief as well. For businesses that have experienced a decline in revenue of 10% or more, we’re prepared to provide a three-month deferral of rent payments for April, May and June 2020.
Yesterday Mayor Wheeler announced a local moratorium on residential evictions, in partnership with Multnomah County, for the duration of the State of Emergency. Under the moratorium, no one can be evicted for failure to pay rent who has suffered substantial loss of income due to COVID-19. The moratorium is not a forgiveness of rent; rent owed will continue to accrue with a grace period for repayment following the expiration of the Emergency declaration. Learn more about the new Executive Rule.
If you’re concerned about having your electricity turned off or curious about programs that would help reduce layoffs, please go to our COVID-19 Business Resources page.
If you need to talk to someone to understand how to navigate these resources please call the City of Portland information line at 503-823-4000. You can sign up for Prosper Portland’s COVID-19 email distribution list to stay informed about the latest resources.
ISPO Academy is offering 14 free webinars on topics ranging from digitalization and retail to textile trends for outdoor gear and apparel companies. To access these free resources, please create an online account by clicking on the link below:
As of March 16, 2020
In coordination with Mayor Wheeler, we have assembled multiple task forces and partnerships focused on developing interventions and supports for the business community. The task forces include subject matter experts and city leaders who are working to be as responsive as we can to address the forthcoming economic impacts and business needs.
We are leveraging partnerships with the private sector to develop supports to for small businesses. An example of this collaboration is the recent GrubHub announcement – Portland and 4 other cities (San Francisco, New York City, Boston and Chicago) teamed up with GrubHub to launch an Economic Relief Effort totaling up to $100 million dollars.
Prosper Portland will begin disseminating regular communications to the business community early next week outlining disaster relief resources and economic recovery tools. We will be sharing this information widely, but if you want to ensure you receive all communications about these tools, please sign up here.
To help provide an accurate picture to state and local officials, please take a couple of minutes now to fill out this survey created by Built Oregon. Please complete this survey before it closes today, Monday March 16, at midnight.
Prosper Portland creates economic growth and opportunity for Portland. Our vision is to make Portland one of the most globally competitive, healthy, and equitable cities in the world by investing in job creation, encouraging broad economic prosperity, and fostering great places throughout the city. We aspire to be a workplace of choice with passionate staff excelling in an open and empowering environment and sharing a commitment to our collective success.
Portland A&O powered by Prosper Portland aims to support the success of Oregon’s 800+ Athletic and Outdoor firms through community, peer-to-peer learning, events, and programming.
