Umpqua Bank
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News Release
Umpqua Bank's Lane County Small Business Impact: $76 Million, 8,400+ Jobs, 500+ Businesses - 05/21/20

More than 8,450 workers in Lane County, Ore., will be able to return to their jobs or keep working, thanks to the $76.6 million worth of federal Paycheck Protection Program (PPP) financial relief applications submitted by Umpqua Bank on behalf of more than 510 local small business owners.

A large percentage of the loan recipients and impacted workers are in Eugene. Business owners there received more than 330 loans totaling more than $51.6 million, which will keep more than 6,050 people working.

The PPP loans that went to business owners in Lane County are part of the $750 million total Umpqua Bank processed for its customers in Oregon.

“Small businesses are the lifeblood of our economy and helping them navigate and survive the pandemic has been one of Umpqua’s highest priorities the past several weeks,” said Umpqua President & CEO Cort O’Haver. “We will continue to do all we can to help our customers and communities get through this challenging time.”

Umpqua was one of the first banks in the country ready to accept small business applications when the Small Business Administration launched the Paycheck Protection Program on April 3. The bank has successfully processed nearly 14,000 loans worth an estimated $2 billion that helped businesses save more than 240,000 local jobs in communities across five states.

For context, Umpqua might fund roughly $140 million in SBA funding on average in an entire year.

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