OR HB2714

State Treasurer directed to create a small business support loan program for businesses with 10-50 employees that cannot operate at ordinary levels due to statewide or regional emergencies such as natural disasters, pandemics, or severe economic recessions

Eligible businesses must have exhausted other financing options, be unable to receive loan forgiveness or lease deferrals from existing creditors, and demonstrate they are otherwise economically viable and capable of recovery

Maximum loan amount covers up to 180 days of operational expenses (payroll, supplies, utilities, rent, debt service) at interest rates set periodically by the State Treasurer, with amortization periods not exceeding 10 years

Establishes the Small Business Support Loan Fund funded through bond issuances authorized under ORS chapter 286A, loan repayments, and tax levies, with moneys continuously appropriated to the State Treasurer

Program becomes operative January 1, 2026, with emergency clause making the Act effective upon passage