First Round of matching grant issued in 28 counties
Business Oregon has announced the recipients of $2.5 million in matching grant funding through the Emergency Business Assistance Grant Fund. Business Oregon solicited proposals from cities, counties and economic development districts that have existing small business COVID-relief programs or plan to start new programs.
The funding will provide grants for small businesses with fewer than 25 employees, according to a Business Oregon press release.
Governor Kate Brown and the Oregon Legislature created the Oregon Small Business Relief Fund to assist small businesses suffering in the wake of the COVID-19 pandemic. A total of $10 million of funding is being allocated through three Requests for Proposals (RFPs) for different types of applicants. This is the first of round of funding, consisting of $2.5 million and closed for proposals May 18.
“We stood this program up very quickly, and communities throughout Oregon in turn put together excellent proposals on a short time-frame for how they will get the funding into the hands of their local small businesses,” said Business Oregon director Chris Cummings.
Not included in this round of funding are Hood River, Wasco, Sherman, Gilliam, Wheeler, Morrow, Baker and Harney counties.
Business Oregon received 46 applications requesting $7.5 million, but only $2.5 million is available in this round. Final amounts to each will be announced shortly as contracts are finalized with each recipient, but the median award will be approximately $45,000.