Many small businesses are still feeling the impact of COVID-19. We all had high hopes for significant financial rebounds in 2022, but many businesses fell short of revenue and income projections due to rising inflation, supply chain shortages, and challenges finding or retaining qualified employees…. 2022 was rough! Through a partnership with the CCD Business Development Corporation, Business Oregon has developed a grant program to assist small businesses in retaining or creating low-and moderate-income jobs. CDBG-CV Statewide Emergency Small Business & Microenterprise Grant Program has $3 million allocated to assist qualified businesses.
Your business can apply if you meet the following criteria:
- Located in the state of Oregon with a business start date prior to March 8, 2019
- Business was stable before Executive Order 20-3 Declaration of Emergency due to coronavirus issued on March 8, 2020
- Considered a small business that employs 5-1,500 individuals at a low-moderate income level* or a microenterprise that employs five or fewer individuals and the owner is at a low-moderate income level* based on their 2021 personal federal tax return.
- You can document the impact of COVID-19 on your business, like lost revenue, government-mandated closures, supply chain constraints, workforce challenges, etc.
*Low-moderate income level is defined by the Department of Housing and Urban Development and based on your county. Use this link to determine if the employees of your small business, or you, as a microenterprise owner, meet the requirements.
Small businesses can qualify for a grant of $2,500 per low-moderate income employee retained with a maximum of $30,000. Owners of microenterprises with low-moderate income can qualify for a grant of up to $10,000. A list of documentation required for the application can be found here.
Applications open on Monday, January 23, close on Friday, January 27, and will be processed on a lottery, meaning all submitted applications will be randomly processed. Submit your application here and reach out to the CCD Business Development Corporation if you need support at 1-888-263-0971 or oregonsbma.ccdbusiness.com.