07-12-2020  4:21 pm   •   PDX and SEA Weather
  • 1
  • 2
  • 3
  • 4

NORTHWEST NEWS

Oregon Appeals Court Affirms Portland Renter Relocation Law

The Court affirmed a Portland ordinance requiring landlords to pay tenants’ relocation fees if their rent is increased by at least 10% or if they’re evicted without cause.

Seattle Urged to See a 'World Without Law Enforcement'

Proposals include removal of 911 dispatch from Seattle Police control, budget cuts of 50%

Oregon DOJ to Hold Listening Sessions on Institutional Racism; Leaders Wary

DOJ will hold 11 virtual listening sessions for underserved Oregonians.

Portland Black Community Frustrated as Violence Mars Protests

Black leaders condemn violence from small group of mostly-white activists as Rose City Justice suspends nightly marches

NEWS BRIEFS

OSU Science Pub Focuses on Influence of Black Lives Matter

The influence of the Black Lives Matter movement will be the focus of a virtual Oregon State University Science Pub on July 13 ...

Capital Rx Establishes Scholarship at Howard University to Support Next Generation of Pharmacists

“Each of us has a role to play in paving a more equitable path for the future of the industry,” said AJ Loiacono, Founder and CEO...

Adams Joins Lawmakers in Move to Repeal Trump’s Birth Control Rule

Without action, SCOTUS decision clears way for Trump Admin rule to take effect ...

Portland Art Museum and Northwest Film Center Announce Artist Fund

The fund will help support artists during COVID crisis and beyond ...

The OHS Museum Reopens Saturday, July 11

The Oregon Historical Society museum will reopen with new hours and new safety protocols ...

Tear gas used on Portland protesters, 1 man injured

PORTLAND, Ore. (AP) — Federal law enforcement officers used tear gas and crowd-control munitions on people protesting near Portland's federal courthouse during a protest that started Saturday night, Portland police said.Oregon Public Broadcasting reports that friends and family of a...

Oregon reports 332 new coronavirus cases, 3 deaths

PORTLAND, Ore. (AP) — The number of new coronavirus cases in Oregon rose on Sunday to 332, the Oregon Health Authority said.Meanwhile, two more people with COVID-19 died, bringing the state's death toll to 234, the agency said. The latest deaths were an 86-year-old woman in Malheur County...

Iowa defensive back Jack Koerner hurt in jet ski accident

IOWA CITY, Iowa (AP) — Iowa defensive back Jack Koerner sustained serious injuries when he and a passenger on a jet ski collided with a boat on the Lake of the Ozarks in Missouri.According to a police report, Koerner and Cole Coffin were hurt at about 6:30 p.m. Friday when their watercraft...

Missouri football program pushes again for racial justice

COLUMBIA, Mo. (AP) — Ryan Walters had just arrived at the University of Missouri to coach safeties for the football program when a series of protests related to racial injustice led to the resignations of the system president and the chancellor of its flagship campus.The student-led movement...

OPINION

Recent Protests Show Need For More Government Collective Bargaining Transparency

Since taxpayers are ultimately responsible for funding government union contract agreements, they should be allowed to monitor the negotiation process ...

The Language of Vote Suppression

A specific kind of narrative framing is used to justify voter suppression methods and to cover up the racism that motivates their use. ...

Letter to the Community From Eckhart Tolle Foundation

The Eckhart Tolle Foundation is donating more than 250,000 dollars to organizations that are fighting racism ...

Editorial From the Publisher: Vote as Your Life Depends on It

The Republican-controlled Senate won’t pass the George Floyd Justice in Policing Act, no matter how hard Oregon’s senators and others work to push for change. ...

AFRICAN AMERICANS IN THE NEWS

Trump, Biden try to outdo each other on tough talk on China

WASHINGTON (AP) — China has fast become a top election issue as President Donald Trump and Democrat Joe Biden engage in a verbal brawl over who's better at playing the tough guy against Beijing.The Trump campaign put out ads showing Biden toasting China's Xi Jinping, even though Trump did...

Boy, 12, arrested after Palace player Zaha gets racist posts

LONDON (AP) — A 12-year-old boy was arrested by police after Crystal Palace player Wilfried Zaha highlighted racist abuse he received ahead of Sunday's Premier League match at Aston Villa.The racist messages and images referenced the Ivory Coast international being Black and showed the Ku...

F1 star Hamilton raises right fist in fight against racism

SPIELBERG, Austria (AP) — Standing on the podium to celebrate his latest win, Formula One world champion Lewis Hamilton raised a clenched right fist and then delivered a message to his fellow drivers not to slow down in the fight against racism.It's 52 years since American sprinters Tommie...

ENTERTAINMENT

Armie Hammer and Elizabeth Chambers separate after 10 years

Actor Armie Hammer and wife Elizabeth Chambers are splitting up after 10 years of marriage and 13 years together. Both parties posted the same message on their respective instagram accounts Friday, writing that they have decided to “turn the page and move on" from the marriage.The couple...

How The Chicks dropped the word 'Dixie' from their name

NASHVILLE, Tenn. (AP) — When The Chicks decided to drop the word “Dixie” from the band's name, it was the culmination of years of internal discussions and attempts to distance itself from negative connotations with the word. The 13-time Grammy-winning trio made the switch last...

With new name and album, The Chicks' voices ring loud again

NASHVILLE, Tenn. (AP) — The Dixie Chicks are no more. Breaking their ties to the South, The Chicks are stepping into a new chapter in their storied career with their first new music in 14 years. The Texas trio of Emily Strayer, Martie Maguire and Natalie Maines have been teasing new music...

U.S. & WORLD NEWS

Trump rips private Texas border wall built by his supporters

HOUSTON (AP) — President Donald Trump on Sunday criticized a privately built border wall in South Texas...

As virus rages in US, New York guards against another rise

NEW YORK (AP) — As coronavirus rages out of control in other parts of the U.S., New York is offering an...

The Latest: Heat wave brings crowds to California's beaches

LOS ANGELES -- A heat wave has brought crowds to California’s beaches, where people mostly heeded warnings...

South Africa returns to ban on alcohol sales as virus surges

JOHANNESBURG (AP) — South African President Cyril Ramaphosa says the country will immediately return to a...

Pope 'deeply pained' over Turkey's move on Hagia Sophia

VATICAN CITY (AP) — Pope Francis said on Sunday that he is “deeply pained” over the decision...

The Latest: Heat wave brings crowds to California's beaches

LOS ANGELES -- A heat wave has brought crowds to California’s beaches, where people mostly heeded warnings...

McMenamins
Nancy Mccarthy of The Skanner

It's not unusual for small-business owners to find themselves in a financial pinch once in awhile. There's an unexpected emergency or a temporary downturn in sales. Or there's a need to expand, and the bank won't approve a loan for the entire amount needed.

To bridge that funding gap, small-businessoperators will be able to turn to the Portland Development Commission for loans through a new program soon to be offered to businesses in Portland's low-income neighborhoods.

The "New Markets Tax Credits" fund eventually will contain $750,000 to lend to businesses. Between 30 and 50 loans could be made, depending on their size, said Fred Atiemo, the commission's business finance manager. More loans may be made through the revolving loan fund as loans are repaid.

The commission has made loans to small businesses in the past, Atiemo said, but the definition of "small" was 50 or fewer employees. With the New Markets loans, "small" can mean a one-person operation.

"Small" also figures in the size of the loans offered, which could go as low as $1,000 and as high as $50,000. Most loans are expected to be in the $10,000 to $20,000 range, Atiemo said.

This is the first public program in the nation that is offering loans of this size to small businesses, he added. Other agencies usually start withaminimumof $150,000.

The loans are targeted toward small "micro" businesses located in low-income neighborhoods designated by a federal government census. Those communities include, among others, North and Northeast Portland, Lents and Old Town. A map of eligible neighborhoods and the loan requirements should be on the Portland Development Commission Web site at www.pdc.us.

Most businesses will be eligible, especially if they will generate jobs and enhance the local community, Atiemo said. However, businesses that don't allow minors — taverns, for instance — may not be eligible, he added.

New businesses can apply, as long as they have a business plan that acts as a "roadmap that shows how they will get from point A to point B," he said. But the loans could be especially helpful for businesses that are a few years old and have temporary cash-flow problems, Artiemo added.

While banks calculate the risk factor of making a loan against the need to make a profit, the Portland Development Commission is a public agency that can take greater risks, Atiemo said.

"The objective is different than a bank," Atiemo said. "We are supporting businesses to succeed."

Banks usually consider whether the business owner can and will repay the loan and what can be used for collateral, he noted.

But when the loan is made through the "New Markets" fund, "We will look at what money management experience the business owner has, what public good the business will do and what jobs will be created," Atiemo said. "We will be flexible."

Interest rates will range from 3 percent to 8 percent and payback times will go from about seven to 10 years. Borrowers may have some options in the way they repay the loans, Atiemo added. For instance, they may be allowed to pay interest-only for a while before adding on the principle.

Business owners hoping to apply for the loans will have to be sponsored by local organizations, such as Oregon Association of Minority Entrepreneurs, the Hispanic Chamber of Commerce, Black United Fund or Portland State University's business outreach program. Applications first will be made through the sponsoring organization, and that organization will submit an application to the commission for approval. Once the commission receives the application, it should take about two to three weeks for approval, Atiemo said.

The tax credits will come through a partnership with Portland Family of Funds, which has worked with the Portland Development Commission on past tax-increment funding projects. The commission earns federal tax "credits" when it invests in low-income neighborhoods, and the credits become funds for low-interest loans, said Bob Alexander, the commission's economic development director.

Such tax credits have been used in the past for low-income housing projects.

"Clearly this is a way to creatively address the problem that businesses have to obtain working capital, which is what we often hear about," Alexander said.

image of Coronavirus Disease 2019 (COVID-19)
Port of Seattle Police We Want to Hear
Calendar

Photo Gallery

Photos and slide shows of local events

https://www.oregonclinic.com/patients/appointments