COIC, partners launch COVID-19 small business emergency grant fund
BEND, Ore. (KTVZ) -- The Central Oregon Intergovernmental Council and a host of regional partners have come together to create an emergency grant fund for small businesses and nonprofits impacted by the economic downturn caused by the spread of the novel coronavirus COVID-19.
COIC was able to combine contributions from Deschutes County ($100,000), Crook County ($10,000), the City of Madras ($25,000), Jefferson County ($18,250) and the Warm Springs Community Action Team ($15,000) to leverage an additional $517,500 from the State of Oregon, for a total program of $685,750, available to sole proprietors, small businesses, and non-profits across the Central Oregon region (Crook, Deschutes, and Jefferson counties and the Confederated Tribes of Warm Springs). Some of the local matching funds were originally provided by grants from the Oregon Community Foundation.
Eligible businesses and non-profits can receive from $2,500-$25,000 in grant funds, depending on number of employees and other factors. A complete list of program guidelines and a link to the grant application can be found here: https://www.coic.org/grant/
The grant program will open Friday July 10 and close Monday July 20. In order to be eligible, businesses and non-profits must have 25 or fewer employees as of February 29, 2020. Eligible applicants must have been either categorically closed by Governor of Oregon’s Executive Order No. 20-12 (https://www.oregon.gov/gov/Documents/executive_orders/eo_20-12.pdf) or able to demonstrate a loss of at least 50% of revenue in either March or April 2020.
Further, eligible applicants may not have received any federal CARES Act funding, must be headquartered in the region, and cannot owe any local, state, or federal taxes. Nonprofit applicants must be organized as a 501(c)3 and in good standing at the time of their application.
The program has a special emphasis on sole proprietorship businesses, with a commitment to award 50% of total funding to these businesses, which have often received less emergency funding support than other businesses to date.
COIC is coordinating delivery of this program, which would be impossible without the following regional partners: Crook, Deschutes, and Jefferson counties; the cities of Bend, Madras, and Redmond; the Warm Springs Community Action Team; Economic Development for Central Oregon (EDCO); the Latino Community Association; NeighborImpact; and the La Pine, Sunriver, Bend, Sisters, Redmond, Prineville-Crook County, and Madras-Jefferson County Chambers of Commerce.
According to Tammy Baney, COIC Executive Director, “Our region’s economy relies heavily on the hard work of small business owners, and our communities rely on our non-profits. This grant fund is meant to fill an immediate need for these critical institutions. We are grateful for the partnership with our regional partners and the State of Oregon.”
This program is funded in part by the State of Oregon General Funds and Lottery Funds administered by the Oregon Business Development Department.
About the Central Oregon Intergovernmental Council (COIC) – The Central Oregon Intergovernmental Council (COIC) was designated a Council of Governments in 1972 under ORS 190 and serves the local governments of Central Oregon. COIC provides regional services for employment and training, alternative high school education, business loans, planning and governance, community and economic development, and public transportation services operated by Cascades East Transit. For more information, visit www.coic.org.
