COIC is offering another round of grants for businesses
The Central Oregon Intergovernmental Council is administering a second round of grants for businesses who have been affected by the COVID-19 pandemic but didn't qualify for federal funds.
Applications will be available Friday, July 10, and are due by 5 p.m. Monday, July 20.
COIC is offering the grants in partnership with Business Oregon, Chambers of Commerce, city and county governments and regional nonprofits.
The Oregon Legislature allocated $5 million from the state's general fund, along with $5 million from Business Oregon to give financial help to small businesses that haven't received federal emergency assistance under the CARES Act or other federal programs, including the Small Business Administration's Paycheck Protection Program and the Economic Injury Disaster Loan Emergency Advance program.
Funds depend on the number of employees a business has, as well as its fixed expenses.
To apply, a business must meet all of the following requirements:
The business is headquartered in Oregon and has its principal operations in Oregon.
If required by Oregon law to be registered with the Oregon Secretary of State to do business in Oregon, the business is so registered.
The business has 25 or fewer employees.
The business was adversely affected in either one of the following two ways:
For-profit and nonprofit (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 nonprofit 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;
Small Business Administrations'Economic Injury Disaster Loan Emergency Advance program; or
Other federal programs to date for emergency pandemic funding (not including Unemployment Insurance of any type).
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