CENTRAL WILLAMETTE CREDIT UNION LAUNCHES GRANT PROGRAM FOR OREGON SMALL BUSINESSES

ALBANY, OR – To assist in supporting economic recovery from COVID-19, Central Willamette Credit Union, in partnership with Business Oregon and other Oregon credit unions, has been allocated funds that will be available via grant to local small businesses. Business Oregon is overseeing a total of $5,000,000 of General Fund monies issued by the Oregon Legislature and the Governor in response to the pandemic, and not-for-profit credit unions are facilitating the distribution of these funds through the granting process.  Central Willamette is proud to continue supporting Oregon’s economy through this process and is eager to place these much-needed funds in the hands of local employers

Grants will be awarded on a first-come-first served basis with a focus on sole proprietorships. All applications are due to Central Willamette by no later than Friday, August 14, 2020.

For more information and/or to apply, please email centralwillamette@centralwcu.org.

Qualifying small business applicants must meet all of the following eligibility requirements:

• The Business is headquartered in Oregon and has its principal operations in Oregon.
• The Business is registered with the Oregon Secretary of State to do business in Oregon (If required by Oregon law).
• The Business has 25 or fewer employees.**
• The Business was adversely affected in either one of the following two ways: 
  • For-profit and non-profit (limited to 501(c)(3) corporations) businesses that were prohibited from operation as directed by Executive Order 20-12.
  • For-profit businesses that can demonstrate a one-month decline in sales greater than 50% in the month of March 2020 or April 2020 as compared against sales in the month of January 2020 or February 2020. Those non-profit businesses (limited to 501(c)(3) corporations) that can demonstrate a decline in revenue greater than 50% across the months of March 2020 and April 2020 as compared against the same period of time in 2019.***
• The Business that has been unable to access federal CARES Act funds including: 
  • The Paycheck Protection Program (PPP);
  • Small Business Administrations’ (SBA) Economic Injury Disaster Loan Emergency Advance program (EIDL); or
  • Other federal programs to date for emergency pandemic funding.

Central Willamette Credit Union will accept applications from eligible businesses headquartered in the following counties:****

• Marion
• Linn
• Benton
• Lane 
• Douglas
• Jackson
• Josephine

The COVID-19 Emergency Business Grant Program is a collaboration between Central Willamette Credit Union, Central Willamette Credit Union, Consolidated Community Credit Union, Trailhead Credit Union and Business Oregon.

About Central Willamette Credit Union
Central Willamette Credit Union is a not-for-profit financial cooperative, member owned Community Development Financial Institution headquartered in Albany, Oregon. Central Willamette Credit Union has been serving the Willamette Valley since 1955. As financial and community advocates, CW strives to make the Valley an even better place to live, work and play. Laser-focused on the success of our communities and on each individual member, CW is Building Better Lives Together. Find out more and join Central Willamette today at www.centralwcu.org. 

*Verification of eligible expenses requires all expenses to be documented and provided to Central Willamette for review and approval. Expenses that don’t have corresponding documentation or do not meet Business Oregon’s requirements for “eligible expenses” will not be included. Maximum amount is $25,000 for businesses with 25 or less employees.

***Verification of sales/revenue decline requires a copy of the business’ profit and loss statement, income statement and/or sales report(s) demonstrating a decline of 50% or more in sales or revenue over the aforementioned time window to be provided to Central Willamette for review and approval.

****Per Business Oregon requirements, Central Willamette has limited funds per county available to award. Eligible applicants may be declined if allocated funds for a specific county and urban area are already exhausted.