Business Oregon released the latest of the state’s recovery efforts for Oregon small businesses suffering in the wake of the COVID-19 pandemic, a round of funding to stand up local small business grant programs across the state. The Oregon Legislature, in partnership with Governor Kate Brown, allocated $5 million from the state’s General Fund, which will be combined with another $5 million redirected from existing programs at Business Oregon.
For the first round of funding, Business Oregon is issuing a request for proposals from cities, counties, and Economic Development Districts that have existing small business COVID-relief programs or will stand up new programs to issue grants to local small businesses with fewer than 25 employees, with an emphasis on sole proprietors and historically disadvantaged businesses. Many communities throughout Oregon are already providing local assistance to small businesses, and this new state funding will bolster this community-level assistance.
This announcement is for the first round of funding totaling $2.5 million, with a second round of $2.5 million coming immediately after, then a final round for the remaining $5 million will be announced at a later date. Awards for this round of funds will be based on a community program’s ability to achieve the parameters, values, and goals of the program. This round is designed for communities that can get the money out quickly, requiring all funds to be expended to small businesses by June 30th, 2020.
A full description of the program details and application requirements is available here.