2B — THE OBSERVER & BAKER CITY HERALD
THURSDAY, FEBRUARY 25, 2021
BUSINESS & AG
Business Column: Paycheck Protection Program deadline draws near
GREG SMITH
SBDC
usinesses that have not
yet applied for the fi rst or
second draw of the Pay-
check Protection Program need to
do so before March 3.
The purpose of the PPP is to
allow business owners to keep
their workforce in place during
the pandemic and the loan can be
forgivable (in whole or in part)
if the funds are spent in accor-
dance with the requirements of
the program.
Note that beginning Feb. 24 to
B
March 10, the PPP is open exclu-
sively to those businesses that
employ less than 20 people. This
will still allow larger employers to
apply after March 10 so as not to
miss March 31 deadline.
According to the Small Busi-
ness Administration, a min-
imum of 60% of PPP funds must
be spent on payroll costs (which
included benefi ts). Addition-
ally, funds may be used to pay
mortgage interest, rent, utilities,
worker protection costs related
to COVID-19, uninsured prop-
erty damage costs resulting from
looting or vandalism during
2020 and certain supplier costs
and expenses for operations. In
addition:
• PPP loans have an interest
rate of 1%.
• Loans issued prior to June 5,
2020 have a maturity of two years.
Loans issued after June 5, 2020
have a maturity of fi ve years.
• Loan payments will be
deferred for employers who apply
for loan forgiveness until SBA
remits the borrower’s loan for-
giveness amounts to the lender.
If a borrower does not apply for
loan forgiveness, payments are
deferred 10 months after the end
of the covered period for the bor-
rower’s loan forgiveness (either 8
or 24 weeks).
• No collateral or personal
guarantees are required.
• Neither the government nor
lenders will charge small busi-
nesses any fees.
Certain businesses may qualify
for a second draw of the PPP loan
program. A business will likely be
eligible if it:
• Previously received a First
Draw PPP and either will or have
used the full amount for autho-
rized purposes.
• Does not have more than 300
employees.
• And can demonstrate a min-
imum of a 25% reduction in gross
receipts between comparable
quarters in 2019 and 2020.
To apply, contact your lending
institution or visit sba.gov for
more details including locating a
lender near you.
PPP loans have been an
important lifeline for many busi-
nesses and have helped to ensure
employees’ jobs will remain in
place.
There are some indicators the
economy is recovering but it is
advisable that businesses take
advantage of the opportunity to
apply for the PPP while the pro-
gram is still available. Make a
note of that March 31 deadline.
———
Greg Smith is the director of
the Eastern Oregon University
Small Business Development Cen-
ter,La Grande. If you are seeking
free, confi dential business advis-
ing,call 541-962-1532 or email
eousbdc@gmail.com.
Unfriended no more: Facebook lift Aussie news ban
By ROD McGUIRK
Associated Press
CANBERRA, Australia
— Facebook announced
Tuesday that it would lift a
ban on Australians viewing
and sharing news on its
platform after it struck a
deal with the government
on proposed legislation that
would make digital giants
pay for journalism.
The social media com-
pany caused alarm with its
sudden decision last week
to block news on its plat-
form across Australia after
the House of Representa-
tives passed the draft law.
Initially, the blackout also
cut access — at least tem-
porarily — to government
pandemic, public health and
emergency services, fueling
outrage.
Facebook’s coopera-
tion is a major victory in
Australia’s efforts to make
two major gateways to the
internet, Google and Face-
book, pay for the jour-
nalism that they use — a
faceoff that governments
and tech companies the
world over have watched
closely. Google also had
threatened to remove its
search functions from Aus-
tralia because of the pro-
posed law, but that threat
has faded.
“There is no doubt that
Australia has been a proxy
battle for the world,” Trea-
surer Josh Frydenberg said.
“Facebook and Google
have not hidden the fact
that they know that the
eyes of the world are on
Australia, and that is why
they have sought to get
Richard Drew/AP Photo, File
This March 29, 2018, photo shows the Facebook logo on
screens at the Nasdaq MarketSite, in New York’s Times
Square. Facebook said on Tuesday, Feb. 23, 2021, it would
lift its ban on Australians sharing news after a deal was
struck on legislation that would make digital giants pay for
journalism.
a code here that is work-
able,” he added, referring
to the bill, the News Media
Bargaining Code.
In fact, this week, Micro-
soft and four European pub-
lishing groups announced
they would work together
to push for Australian-style
rules for news payments
from tech platforms.
The legislation was
designed to curb the out-
sized bargaining power
of Facebook and Google
in their negotiations with
Australian news providers.
The digital giants would
not be able to abuse their
positions by making take-
it-or-leave-it payment
offers to news businesses
for their journalism.
Instead, in the case
of a standoff, an arbitra-
tion panel would make a
binding decision on a win-
ning offer.
Frydenberg and Face-
book confi rmed that the
two sides agreed to amend-
ments to the proposed leg-
islation. The changes would
give digital platforms one
month’s notice before they
are formally designated
under the code. That would
give those involved more
time to broker agreements
before they are forced to
enter binding arbitration
arrangements.
A statement Tuesday
by Campbell Brown, Face-
book’s vice president for
news partnerships, added
that the deal allows the
company to choose which
publishers it will support,
including small and local
ones.
“We’re restoring news
on Facebook in Australia
in the coming days. Going
forward, the government
has clarifi ed we will retain
the ability to decide if
news appears on Facebook
so that we won’t automati-
cally be subject to a forced
negotiation,” Brown said.
Frydenberg described
the agreed upon amend-
ments as “clarifi cations”
of the government’s intent.
He said his negotiations
with Facebook chief execu-
tive Mark Zuckerberg were
“diffi cult.”
A European publishers’
lobbying group that is
among those teaming up
with Microsoft said the deal
shows such legislation is
possible — and not just in
Australia.
“The latest twist proves
that regulation works,” said
Angela Mills Wade, exec-
utive director of the Euro-
pean Publishers Council.
“Regulators from around
the world will be reassured
that they can continue to
take inspiration from the
Australian government’s
determination to with-
stand unacceptable threats
from powerful commercial
gatekeepers.”
Facebook said it would
now negotiate deals with
Australian publishers.
“We are satisfi ed that
the Australian government
has agreed to a number of
changes and guarantees
that address our core con-
cerns about allowing com-
mercial deals that recog-
nize the value our platform
provides to publishers rela-
tive to the value we receive
from them,” Facebook
regional managing director
William Easton said.
“As a result of these
changes, we can now work
to further our investment in
public interest journalism
and restore news on Face-
book for Australians in the
coming days,” Easton added.
Union County Chamber of Commerce/Contributed Graphic
The Union County Chamber of Commerce and La
Grande Main Street are launching “March into Spring”
to encourage safe shopping during the month of March.
‘March into Spring’ urges
safe, local shopping
The Observer
LA GRANDE — The
Union County Chamber of
Commerce and La Grande
Main Street have teamed
up with local businesses to
encourage safe shopping
and provide opportunities
for prizes as spring moves
closer.
“March into Spring”
runs the whole month of
March, according to the
press release from the
chamber. Shoppers just
have to grab a punch card
and shop at any partici-
pating location to collect
punches. Each dollar spent
earns a punch.
Visit the chamber or
Main Street’s websites and
social media for partici-
pating locations and spe-
cials. And the fi rst punch
is a “freebie” that requires
no purchase.
Then turn in punch
cards on March 10, 17
and 24 at any partici-
pating location, including
La Grande Main Street,
102 Depot St., and the
chamber, 207 Depot St.,
both in La Grande, for
drawings for prizes.
Turn in your last card
March 31 by 4 p.m. for the
chance to win the grand
prize drawing on April 1.
That drawing includes all
punch cards that shoppers
turned in throughout the
month.
Then look to chamber
or Main Street’s social
media that day to see who
won the grand prize.
FAMILY
OWNED
Business column: Turn your quarantine clutt er into cash
says she made over
$1,000 selling things
COURTNEY
online during the last
six months of 2020
JESPERSON
through Facebook Mar-
MILLENNIAL MONEY
ketplace, an outlet for
placed more online
buying and selling
orders than I can count
locally.
in 2020. And I justifi ed
You can, too. Look
all of them.
online for this or another
My front porch was fi lled marketplace that suits your
with boxes containing all
needs.
sorts of things: furniture (I
Here are Wolf’s keys to
needed to redecorate), paper making things sell:
towels (I needed to stock
• Presentation. “You
up), crafts (I needed activ-
want the item you’re selling
ities), board games (more
to be the focal point of your
activities) and a treadmill (I photo,” Wolf says. Clean
needed exercise).
it fi rst, then take fl attering
But if I’m being honest, I photos. Get multiple angles.
bought a little too much.
• Price. Consider what
If your quarantine habits someone might pay for the
were even a bit like mine,
item, then price it slightly
you could turn that clutter
lower to make it move. You
into money. Here’s how.
can check listings to deter-
mine the going rate.
Too much stuff?
• Particulars. Spell out
Perhaps you purchased
everything in the descrip-
more than you ended
tion, including the brand
up using. Or maybe you
and any imperfections. A
bought new products to
more detailed listing means
replace old items and were
less back and forth with
left with a drawer of dis-
potential buyers.
carded technology.
Consign
Whatever the case, you
To save time and effort
have more than you need.
in listing, packaging,
And there are lots of places
sending or delivering items,
to sell your stuff online.
take your stuff to a local
Chelsea Lipford Wolf,
consignment store instead.
co-host of the “Today’s
You’ll likely make less, but
Homeowner” TV show,
I
Online ordering,
carry-out, and
delivery available
the store does the selling for
you. Expect to pocket half
of the selling price.
Other options? Give
things away to family and
friends. Donate to a local
charity. And throw away
items that have no use.
Scale back
Once you’ve sold and
donated what you can, fi ght
the urge to impulse shop.
So save fi rst and buy later.
Save money and wait to
place an order until you can
afford it in full, says Pam
Horack, a fi nancial planner
and the owner of Pathfi nder
Planning based in Lake
Wylie, South Carolina.
Horack says her family
has a designated clothing
account. When someone
needs a new pair of shoes,
the money comes from
what they’ve set aside. You
can do the same with a gen-
eral spending account.
Consumers have been
buying and selling used
during the pandemic,
according to Sara Beane,
media relations specialist
at technology marketplace
Swappa. “Everybody is
kind of strapped during this
unprecedented time,” Beane
says.
Search used market-
places by model and condi-
tion of the item. You’ll fi nd
many price points to fi t your
budget.
But before you hit the
“buy” button, do some
organizing, Wolf says.
“If you have so much
stuff that you can’t see what
you have, then you’re going
to buy more than you need.”
———
Courtney Jespersen is
a writer at NerdWallet, the
personal fi nance website
that provided this column to
The Associated Press.
215 Elm Street La Grande (541) 963-5440
Buy used
For things you absolutely
need, consider buying on
the same websites you used
to make extra money.
When you list products,
you won’t sell them for as
much as you originally paid
for them. That means you
can purchase things at a sig-
nifi cant discount, too.
Due to Governor Brown’s orders
and categorizing the county at
Extreme Risk, we are currently only
open for Carry-out and Delivery.
WE’RE
Hours
Mon-Fri: 8:00 AM - 6:00 PM
Sat: 8:00 AM - 5:00 PM
2306 Adams Ave
La Grande, OR 97850
(541) 963-8411
We're just west of I-84 (exit 261)
on Adams Ave at 20th St.
We now have online ordering
and our hours have
temporarily changed.
OPEN Wed thru Sat 11-7
CLOSED Sun thru Tues
1106 Adams Avenue Suite 100 • 541 663-9010 • tapthatgrowlers.com
northwestfurnitureandmattress.com
lesschwab.com
HERE TO
HELP