Business Oregon announced the recipients of $5 million in grant funding through its Emergency Business Assistance Grant Fund, created by Governor Kate Brown and the Oregon Legislature, to assist small businesses impacted by COVID-19. The Fund has a total of $10 million available, allocated through three rounds of Requests for Proposals (RFPs) for different types of applicants. This is the second of the three rounds.
This round solicited proposals from Economic Development Districts (EDDs) and Community Development Financial Institutions (CDFIs). These organizations are intermediaries that will in turn issue grants to local small businesses with fewer than 25 employees, among other parameters. The program also encourages efforts to provide access to sole proprietors and historically disadvantaged business owners.
Business Oregon funded each of the 12 applications received. The applicants requested a total of $7.5 million, but only $5 million is available in this round. Awards were allocated to achieve a good geographic distribution of funding for small businesses across the state. Final amounts to each will be announced shortly as contracts are finalized with each recipient, but the median award will be approximately $300,000.
|Central Oregon Intergovernmental Council||Bend||Central|
|Mid-Columbia EDD||The Dalles||Central|
|Coos, Curry Douglas EDD||Coos Bay||Coastal|
|Columbia Pacific EDD||Columbia City||Coastal|
|Greater Eastern Oregon Development Corp.||Pendleton||Eastern|
|Northeast Oregon EDD||Enterprise||Eastern|
|Micro Enterprise Services of Oregon (MESO)||Portland||Metro|
|South Central Oregon EDD||Klamath Falls||Southern|
|Community Lending Works||Springfield||Valley|
|Mid-Willamette Valley COG||Salem||Valley|
|Affiliated Tribes of NW Indians||Dallas||Statewide|
|Credit Union Collaborative||Statewide||Statewide|
CU: Credit Union, EDD: Economic Development District, COG: Council of Governments
The Credit Union Collaborative consists of four credit unions: Central Willamette CU, Consolidated Community CU, Point West CU and Trailhead CU
To fill gaps not reached by other programs, the awardees will direct these funds to businesses that have not received federal CARES Act funding, including the Small Business Administration’s Paycheck Protection Program, Economic Injury Disaster Loan program or other federal programs for emergency pandemic funding. Businesses may use the proceeds for any business-related operating expenses, including helping to reopen in line with state guidance.
A full description of the program details and application requirements are on our website. Proposals for the final, third round of funding will be solicited later in June.