$20 million available from Oregon’s Emergency Small Business Assistance Fund

SALEM, Ore. (KTVZ) -- After four previous rounds of funding for the Emergency Small Business Assistance Fund program, the Oregon Legislature and Governor Kate Brown approved $20 million more for Business Oregon’s Emergency Business Assistance Grant Fund.

Business Oregon updated this page Thursday afternoon with additional program information and eligibility requirements, as well as an application form.

Applications will be processed on a first-come-first-serve basis, with a geographic overlay to ensure statewide distribution of proceeds. 

This round makes some changes to previous rounds of grant funding under the program, so that businesses not eligible in earlier rounds can now access grant funding.

Most previous rounds also targeted businesses that did not already receive assistance through the CARES Act (such as PPP, EIDL, City of Portland Small Relief Program, the Oregon Cares Fund for Black Relief + Resiliency and other programs funded with CARES Act funds).

This round will now consider applications from the following types of businesses:

• Businesses with 1 to 25 employees that have already received anywhere from $100,000 to $1 million in funding from these federal resources.
• Businesses with 25 to 100 employees are eligible regardless of the amount of federal resources they received (up to $1,000,000), if they meet other program requirements.

To apply, be prepared to provide the following:

• Financial statements (P&L/Income Statements) for comparable periods in 2019 and 2020 demonstrating a 25% decline in revenues/sales (between March 1, 2020 and August 31, 2020) unless the business was required to close under Executive Order (EO) 20-12 and EO 20-65 (revenue/sales verification waived for these businesses).
• Loan documents for PPP & EIDL loans.
• Oregon Employment Department (OED) Form 132 to verify employment (Q4 2019, Q1 2020, Q2 2020 or Q3 2020).

Businesses will need to know the total employee hours reported to Oregon Employment Department, and total amount of federal PPP, EIDL and EIDLA awards to complete the application. Supporting documentation will not need to be required to submit an application immediately, but will be necessary by Dec. 1, so awards can be finalized thereafter.