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Oregon Business - PPP and Me


PPP and Me
Joan McGuire
Paycheck Protection Program loans provided lifelines to Oregon’s small businesses but triggered messy headaches for banks. A look back at the process proves the struggle paid off in many ways.
Paycheck Protection Program (PPP) loans offered a desperately needed helping hand to Mitch and Cathy Teal, owners of BREW Coffee and Taphouse in Independence and West Salem. Their business, like all service providers restaurants, salons, medical offices and the like was hurting from restrictions imposed to stop the spread of COVID-19.
The cash infusion (basically free money from the federal government if you followed the rules) promised some relief. Securing the loan, however, was messy and stressful from the start. ....

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