Supporting Portland Together: Banks Provide Emergency Funding for Small Business Relief



Supporting Portland Together: Banks Provide Emergency Funding for Small Business Relief

We commend Mayor Wheeler, Prosper Portland, Oregon Community Foundation and others in taking swift action to help during this challenging time for many of our city’s small businesses. Read more here.

Together, we are answering the call to help.

A coalition of businesses, members of the Oregon Bankers Association and the Portland Business Alliance, are working together to leverage the city's investment, by pledging an additional $1 million and counting to help small businesses in our region weather the storm.

This immediate action and effort will help bridge the gap while we wait for federal and state relief to make its way onto Portland’s main street.

These contributions will be invested into the Small Business Stabilization Fund at Oregon Community Foundation (OCF). In collaboration with Prosper Portland, the funds will then be reinvested into community lending organizations in the city of Portland, providing relief for smaller businesses during this challenging time.

Initial contributions are from the following: *
  • Bank of America - $40,000
  • Columbia Bank - $10,000
  • JPMorgan Chase - $50,000
  • KeyBank - $35,000
  • Umpqua Bank - $75,000 (grant) $675,000 (loan)
  • U.S. Bank - $50,000
  • Wells Fargo - $125,000

*The generosity of these companies extends beyond this city initiative, both nationally and here in Oregon. Further details on the many ways they are supporting our community can be found through the links below.

BANK OF AMERICA:
“Our community and small businesses are facing unprecedented challenges right now. We’re pleased we could support this Small Business Stabilization Fund, and we thank Mayor Wheeler for his leadership to get it established, since we know it will bring relief to local small businesses,” said Roger Hinshaw, Bank of America's local Market President.

“This investment plus the rapid-response philanthropic aid Bank of America is bringing to local nonprofits — combined with the $100 million Bank of America is contributing nationally to support those impacted by the coronavirus — will join all the other efforts going on to help our communities recover as quickly as possible.”

More on Bank of America’s efforts


COLUMBIA BANK:
"Our teams are extremely active helping small businesses across the region during this challenging time," said Dave Hansen, SVP Columbia/Willamette Market Region, Columbia Bank.

"At Columbia Bank we have a strong commitment to what we call our DO RIGHT culture and these efforts and commitments to the community are a direct example of this mantra we live by every day. DOING RIGHT for the community, our clients and our employees."

More on Columbia Bank’s efforts


JPMORGAN CHASE:
"At JPMorgan Chase, we believe that strengthening small business and creating jobs is critical to the progress of our community and we’re proud to partner with Prosper Portland and Oregon Community Foundation who are working to do just that,” said Michael Hurley, JPMorgan Chase Oregon Region Manager.

“In the face of today’s unique challenges, our duty is to ensure our community’s most vulnerable are not left behind by committing to helping address the near and long-term challenges related to the COVID-19 pandemic. It’s our firm’s corporate responsibility to use our strength and global reach to assist our local communities as they navigate a complex economy and to help tackle some of the big social and economic challenges facing our country and facing the world.”

More on JPMorgan Chase’s efforts


KEYBANK:
“It is important that we work together as a community to help those in need,” said Michelle Weisenbach, KeyBank President and Commercial Banking Sales Leader for Oregon and SW Washington.

“The partnership with Portland Prosper, the Oregon Community Foundation and the Portland Business Alliance is outstanding. They are acting swiftly to assist our most vulnerable with these funds and we are proud to support these efforts.”

More on KeyBank’s efforts


UMPQUA BANK:
“Small businesses are the heart of Portland and Oregon’s economy, and they’re experiencing unprecedented disruption due to the COVID-19 pandemic," said Cort O’Haver, President & CEO, Umpqua Bank.

"As Oregon’s bank, Umpqua cares deeply about helping small businesses across Portland and the state weather this storm. We’re pleased to join with the City and other financial institutions to get relief dollars into the hands of small business owners as quickly as possible. At a time when so many across our region are experiencing unprecedented financial disruption, it’s important that small businesses know Portland’s broader business community stands with them, and that we’re all in this together.”

More on Umpqua Bank’s efforts


U.S. BANK:
“U.S. Bank is responding to the unprecedented challenge of COVID-19 through our contribution to this important fund, as well as additional local market investments for organizations and nonprofits throughout Portland and Southwest Washington,” said Stacey Dodson, Portland and Southwest Washington market president for U.S. Bank.

"U.S. Bank has a long and deep-rooted history in Portland. Helping local businesses that we all love and rely on receive interim relief to support their employees and keep their business afloat in this trying time is crucial to keeping our community together in this time of need.”

More on U.S. Bank’s efforts


WELLS FARGO:
“It’s important in times of immense, widespread community need that we work together," said Tracy Curtis, Wells Fargo Northern Oregon Region Bank President.

"We’re grateful for the leadership of the Oregon Community Foundation and Prosper Portland as they act swiftly to care for our most vulnerable residents and business owners. We hope our support provides a measure of relief as we stand with the community during this challenging situation.”

More on Wells Fargo’s efforts

 

For more information on Prosper Portland’s small business relief fund, visit: prosperportland.us.

For more information on how to donate to the Small Business Stabilization Fund at Oregon Community Foundation (OCF), go to oregoncf.org/COVID.