Business Oregon has received an additional round of funding ($20 million) for Business Oregon's small business grant program. Businesses will need to apply directly to Business Oregon via an online application portal at www.oregon4biz.com/Coronavirus-Information/ESBA/ that opens Nov. 19.
Within this round of funding, awards will be made to eligible businesses with:
- Up to 25 FTE that have accepted between $100,000 and $1,000,000 in CARES Act funding (such as PPP, EIDL, the Oregon Cares Fund for Black Relief + Resiliency and other programs funded with CARES Act funds).
- 26 to 100 FTE that have accepted up to $1,000,000 in federal funding as specified below.
The program will provide grants up $200,000 for eligible businesses (including 501(c)(3)s).
Applications will be processed on a first-come-first-serve basis with a geographic overlay to ensure statewide distribution of proceeds.
"Business Oregon anticipate that the funds will go very quickly and will be oversubscribed and are forecasting that the portal will be closed within 24-48 hours," said a press release.
The application is a two-step process. You should be prepared to provide:
- Legal name of business (registered with the SOS)
- Phone Number
- Total hours reported on Oregon Employment Department form 132
- Information on any business owner(s) that hold 20% or more in the company (Name/Address/Phone #/SSN)
The second step will be providing supporting documentation by Dec. 1, including:
- Financial statements (P&L/Income Statements) for comparable periods in 2019 and 2020 demonstrating a 25 percent 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).
Funds are slated to be fully deployed and out to small businesses by Dec. 15.
For more information, contact Business Oregon Regional Development Officer Michael Held at Michael.email@example.com or 971-599-9489.