New Grant Program Debuts to Assist Small Businesses Affected by COVID-19
Business Oregon has partnered with the CCD Business Development Corporation to offer $3 million in CDBG-CV Statewide Small Business and Microenterprise Grant Assistance (SBMA). This program is funded with federal grant funds from the Oregon Community Development Block Grant program, as well as CARES Act funding for communities affected by COVID-19.
SBMA grants will be awarded in the amounts of $2,500 – $30,000 per business. Microenterprises whose owner meets who meet low- and moderate-income (LMI) criteria can qualify for up to $10,000 in grant funding. Small businesses can qualify for $2,500 per LMI employee retained – up to $30,000 in funding.
Eligibility Requirements
A microenterprise (five or fewer employees) or small business (more than five employees) that:
- Was in business prior to March 8, 2019
- Can document COVID-19 impact (lost revenue, mandated closures, workforce issues, supply complications, etc.)
- Was generally stable/strong prior to the COVID-19 pandemic
- Has an owner and/or employees who meet low- and moderate-income (LMI) criteria
This program will launch on Monday, January 23, 2023, at 8:00 a.m. and will close on Friday, January 27, 2023, at 5:00 p.m. Applications for this grant program will be processed on a lottery basis. At the time of application closure, all submitted applications will be randomized and processed. To register and apply, visit www.ccdbusiness.org/oregonsbma.
Technical assistance is available to assist with completing the application process. You may use Google Translate on the application registration and program webpages for non-English languages or please contact CCD Business Development Corporation at 1-888-263-0971 or oregonsbma@ccdbusiness.com for additional assistance. Video tutorials for both small business and microenterprise applications, including helpful tips, are also available. The link to the YouTube playlist for the video tutorials can be found at on the CCD’s website.
Business Oregon, in partnership with CCD Business Development Corporation, will be hosting two virtual Q&A meetings about this grant opportunity on Friday, January 13 at 10:00 a.m. and 3:00 p.m. Register for the virtual Q&A meetings using this online form.
The SBMA grant award selections are expected in February 2023 and the funding is expected to be distributed to selected grantees in March 2023. Visit www.oregon.gov/biz/ to learn more.
Business Oregon, the state’s economic development agency, invests in Oregon businesses, communities, and people to promote a globally competitive, diverse, and inclusive economy. The agency’s services span rural community development and infrastructure financing; business retention, expansion and recruitment; export promotion and international trade; investments in industry research and development and entrepreneurship; small business assistance; and support for arts and cultural organizations. Learn more at biz.oregon.gov.
