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PDC backs small-business "Weathering Winter" loan pilot and will send it to city council
Summary
The Portland Development Corporation voted to recommend a staff-proposed emergency loan product — an interest-free, up to $10,000 loan for small businesses with 10 or fewer employees — to city council, with staff to prepare a memo and materials for council consideration.
The Portland Development Corporation voted to recommend a new small-business emergency loan product to city council at its March meeting.
Nancy, PDC staff, described the proposed "Weathering Winter" pilot, modeled on the SBA's economic-injury worksheet. "The idea is that a business has had some sort of economic disruption," Nancy said, and added that an eligible business…
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