More grants to help Oregon small businesses are on the way

Advertisement

BEGIN ARTICLE PREVIEW:




As the economic impacts of the pandemic continue, the Oregon legislature and Gov. Kate Brown have allocated millions more in grant funding for Business Oregon to deliver into the hands of small businesses across Oregon. On Monday, Nov. 9, the Emergency Board of the Oregon Legislature approved $20 million more to Business Oregon’s Emergency Business Assistance Grant Fund. This funding and program are separate from the $55 million in funds the governor also announced this week.This grant fund has already put approximately $25 million out into the community through four rounds of funding. The first four rounds were allocated from Business Oregon to intermediary lenders such as cities, counties, Community Development Financial Institutions (CDFIs), and Economic Development Districts (EDDs), who in turn granted the money to individual businesses. With this new round, Business Oregon is able to fund businesses directly. The grants are available to small businesses that have seen lost revenue due to the pandemic, and that meet a minimal set of requirements.“This funding is timely as we face the sharp increase in COVID-19 under this new wave of the pandemic,” said Business Oregon Director Chris Cummings. “These grants can help our small business owners today, but to get back …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE