Bike shops have had to adapt to COVID-19.
(Photo: J. Maus/BikePortland)

Local bike businesses were among the hundreds of thousands of U.S. companies that asked the federal government for assistance to weather the coronavirus storm.

Data released from the Small Business Administration last week revealed that at least four Portland bike shops and two other bike-related businesses received loans through the Paycheck Protection Program (PPP).

Here’s the list (company name, loan amount, number of jobs retained (if available)):

Fat Tire Farm
$150,000-350,000
14 jobs

Bike Gallery
$350,000-1 million

River City Bicycles
54 jobs
$350,000-1 million

[Read more…]

Window of Pedal Bike Tours on SW 2nd Avenue.
(Photo: Pedal Bike Tours/Instagram)

While Portland’s protests in the name of the murder of George Floyd and ongoing police brutality in America have gotten more peaceful in recent nights, several downtown bike shop owners are still recovering from thefts that happened last week.

We’re aware of over 30 bikes that have been stolen so far. Most of them were taken on Friday, May 29th when some people who were downtown during the protest smashed windows and took products from a number of stores. The hardest hit shops have been Bike Gallery on Southwest 10th and Salmon and Pedal Bike Tours on Southwest 2nd near Ankeny.[Read more…]

TriTech Bikes owner Dylan Carrico-Rogers is staying positive despite a rough week at his business on East Glisan.
(Photo © J. Maus/BikePorltand)

The final installment of our three-part series written by Rebecca Small and Shawn Small.

On Friday, we shared information on the two programs that are intended to help you maintain payroll. However, businesses have other expenses besides payroll.

Though not an exhaustive list, the resources below can help you pay for things such as; fixing your broken cargo delivery bike, hiring a financial advisor to help you make a two-year plan, or buying camera equipment to create high-quality videos to take advantage of new streaming/remote/virtual business opportunities.

More revenue resources

[Read more…]

Map of bike shop statuses during the COVID-19 outbreak created by Chris King Precision Components and Portland Design Works [Read more…]

(Photo © J. Maus/BikePortland)

Part two of a three-part series written by Rebecca Small and Shawn Small. See full series here.

We continue with another timely article that’s tailor-made for Portland bike businesses. On Wednesday we explained how to navigate the system and find unemployment benefits. Today we’ll share the latest links and advice for how to manage cashflow and maintain your workforce.

Part 2: Resources to help maintain payroll

[Read more…]

A machine operator at Chris King Precision Components, one of Portland’s many small bike businesses.
(Photo © J. Maus/BikePortland)

A three-part series written by Rebecca Small and Shawn Small. See the rest of the guides here.

Uncertainty is hardly a new sensation for small business owners. Throw in a pandemic, a statewide lockdown, and implosion of the national economy and our local entrepreneurs find themselves facing previously unknown levels of apprehension and sleepless nights. Lately it may seem like there are a million possible wrong choices.

Every one of the nearly 100 different bike-related business in Portland, from the biggest bike shop in town to a self-employed bike fitter, falls into the category of a “small business” – by definition, a company with fewer than 500 people. Most are much smaller: 9 out of 10 businesses in Oregon have fewer than 20 employees. Despite their size, they employ 55% of the state’s workers. They are critical economic engines of our community.[Read more…]