|Business Oregon launched a small business grant program today that is open specifically to businesses with up to 100 employees that have received between $100,000 and $1 million in federal funding from CARES Act programs. Please read below for further details and please note that grants will be awarded on a first-come first-serve basis. The application will be posted on the Business Oregon website. |
Click on this Application Portal: application portal
Business Oregon Grant Program Details
On November 19, Business Oregon will make available $20 million in grants funds to businesses impacted by COVID-19. The program will provide grants up $200,000 for eligible businesses (including 501(c)(3)s) with up to 100 employees that have received $1 million or less in CARES Act funding. Additional details will be provided with the application.
Applications will be processed on a first-come-first-serve basis with a geographic overlay to ensure statewide distribution of proceeds. Business Oregon anticipates that the funds will go very quickly and will be oversubscribed and therefore it is recommended you submit an application as soon as the portal opens.
The application is simple and you should take your time and complete the application and all checkboxes before submitting (if you miss one, your application will be returned). Once your application is accepted, you will receive a secure link to provide copies of the following: Financial statements (P&L/Income Statements) for comparable periods in 2019 and 2020 demonstrating a 25% decline in revenues/sales (between March 1, 2020 and August 31, 2020) unless the business was required to close under Executive Order (EO) 20-12 and EO 20-65 (revenue/sales verification waived for these businesses).Loan documents for PPP & EIDL loans.Oregon Employment Department (OED) Form 132 to verify employment (Q4 2019, Q1 2020, Q2 2020 or Q3 2020).
Businesses will need to know the total hours reported to OED, amount of PPP, EIDL and EIDLA awards to complete the application. Supporting documentation will not need to be required to submit an application tomorrow but will be necessary to be provided by December 1 so our team can finalize awards shortly thereafter. Business Oregon expects and is targeting to have these funds fully deployed and out to small businesses by December 15 (payments to businesses will be batched daily as applications are completed and awards are finalized).
DETAILS: Business Grant awards will be made to eligible businesses with:1. Up to 25 FTE employees that have accepted between $100,000 and $1,000,000 in federal funding as specified below, or2. 26 to 100 FTE employees that have accepted up to $1,000,000 in federal funding as specified below. Awards to eligible businesses will be made as a grant. The amount of the grant will based upon a calculation for Full Time Equivalent (FTE) employment. FTE will be rounded to the nearest whole number and grants will be based on a rate of $2,000 per FTE with a floor of $5,000 as follows:Businesses with 2 or fewer FTE – $5,000Businesses with 3 or more FTE – $2,000 per FTE (cap of $200,000) FTE will be only be calculated based on hours reported to the Oregon Employment Department (OED) on Form 132 for Q4 2019, Q1 2020, Q2 2020, or Q3 2020. Hired consultants, independent contractors, and indirect employees (e.g. employees provided by a staffing company) will not be considered as employees of the applicant for this program. Businesses not required or that have elected not to file OED Form 132 with the Oregon Employment Department are still eligible for this program but will have a maximum award of $5,000.
Eligibility requirements:1. The business is headquartered in Oregon and has its principal operations in Oregon.2. If required by Oregon law to be registered with the Oregon Secretary of State to do business in Oregon, the business is so registered.3. Businesses with:1. Up to 25 FTE employees that has accepted between $100,000 and $1,000,000 of federal business assistance through the SBA Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) and Economic Injury Disaster Loan Advance (EIDLA) programs; or,2. 26 to 100 FTE employees that has accepted up to $1,000,000 of federal business assistance through the SBA Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL) and Economic Injury Disaster Loan Advance (EIDLA) programs.4. The business was adversely affected in either one of the following two ways:1. For-profit and non-profit (limited to 501(c)(3) corporations) businesses that were prohibited from operation as directed by Executive Order 20-12.2. For-profit and non-profit (limited to 501(c)(3) corporations) businesses that can demonstrate a one-month decline in sales of 25% or more, incurred by the COVID-19 pandemic, between March 1, 2020 and August 31, 2020 as compared against the same period of time in 2019.
Businesses are ineligible to apply for or receive funding under this Program:1. Passive real estate holding companies, entities holding passive investments, and entities with passive ownership. 2. Non-profit entities that do not have federal 501(c)(3) status.3. Businesses that experience a decline in revenues for reasons other than those caused by the COVID-19 pandemic (e.g. seasonal or cyclical businesses cycles).4. Businesses that are delinquent on federal, state or local taxes that were due on or before the date of application.5. Businesses that do not comply with all federal, state and local laws and regulations.6.
Businesses that have already received grant funds through the Statewide Business and Cultural Support Program. The Emergency Board of the Oregon Legislature established this program in July 2020, to support cultural venues and organizations. Eligible recipients for this program include, but are not limited to, cultural institutions, children’s museums, county fairgrounds, cultural entities within federally recognized Indian Tribes based in Oregon, and festivals and community event organizations. 7.
Businesses that have already received, or were eligible for, grant funds through previous rounds of this State of Oregon COVID-19 Emergency Business Assistance Program administered by Oregon’s cities, counties, Economic Development Districts and Community Development Financial Institutions including businesses:1. With 25 or fewer FTE employees that accepted less than $100,000 in federal CARES funding, as set forth by this program in this application; or,2. With 25 or few FTE employees that did not accept any federal CARES funding, as set for by this program in the application; or,8. Businesses that have accepted more than $1,000,000 of federal CARES funding from the SBA PPP, EIDL and EIDLA programs, as set forth by this program in this application.9. Businesses with more than 100 FTE employees, as set forth by this program in this application.10. Businesses that do not otherwise meet the eligibility requirements set forth above.
Due to timing constraints associated with the funding for this program, all complete applications, include required supporting documentation, will be processed by the department on a first-come-first-serve basis in the order received and by geographic region. No exceptions will be made.
Future Grant Opportunity for Small Businesses – More Information to Come Yesterday Governor Kate Brown announced that the state will commit $55 million in financial assistance to support Oregon businesses who have been impacted by COVID-19 restrictions. These funds will be distributed to businesses who have been financially impacted, with a priority for the hospitality industry, businesses impacted by the two-week freeze, small businesses, and women, Black, Indigenous, People of Color, and Tribal-owned businesses. $500,000 in funding will be allocated to Clatsop County. CEDR will distribute information about this grant program as soon as it becomes available.
For more information, visit clatsopcc.edu/cedr