COIC receives $2.2 million CARES Act grant for small-business loans

WASHINGTON (KTVZ) -- Rep. Greg Walden, R-Ore., said the U.S. Department of Commerce, Economic Development Administration has announced a series of CARES Act grants for Oregon’s Second District, including in Bend, Pendleton, Enterprise, The Dalles, Medford and Klamath Falls.

This funding is a result of the CARES Act, which Walden helped usher into law in March.  

“Today’s announcement is welcome news for Oregonians and the state’s economy.," Walden said Thursday. "This funding is a result of the CARES Act that Congress passed into law earlier this year, and I am glad to see Secretary Wilbur Ross distribute these needed funds across Oregon’s Second District.

" This money will provide economic support to small businesses across Oregon as they rebuild and recover from the economic hardship they face as a result of COVID-19," the congressman added.

"I look forward to continuing to work with the Trump Administration to ensure that Oregon receives the support necessary to protect Oregonians, combat this deadly virus, and get our communities up and operating,” said Walden.  
 
This funding will support entrepreneurs and small businesses across Oregon that have been financially impacted by COVID-19. 
 
The EDA grants for Oregon’s Second District include: 

• $2.2 million for Central Oregon Intergovernmental Council, Bend, Oregon. This funding will support economic opportunities for small businesses in Crook, Deschutes and Jefferson counties.   
• $1.1 million for Greater Eastern Oregon Development Corporation, Pendleton, Oregon. This funding will support economic opportunities for small businesses in Gilliam, Grant, Harney, Malheur, Morrow, Umatilla and Wheeler counties.  
• $935,000 for Northeast Oregon Economic Development District, Enterprise, Oregon. This funding will support economic opportunities for small businesses in Baker, Union and Wallowa counties. 
• $847,000 for Mid-Columbia Economic Development District, The Dalles, Oregon. This funding will support economic opportunities for small businesses in Hood River, Wasco and Sherman and the Washington counties of Klickitat and Skamania. 
• $616,000 for Southern Oregon Regional Economic Development, Inc., Medford, Oregon. This funding will support economic opportunities for small businesses in in Jackson and Josephine counties. 
• $550,000 for South Central Oregon Economic Development District, Klamath Falls, Oregon. This funding will support economic opportunities for small businesses in Klamath and Lake counties. 

Scott Aycock, manager of community and economic development for COIC, said the funds will be used to support a revolving loan fund for small business loans, with an emphasis on COVID-19 recovery. He said they are recruiting a loan officer to manage the program, similar to an emergency loan fund offered in May and June.