[OMS_MANAGERS] Update on Additional Business Funding through Business Oregon

Emily Bradley Emily at scdcinc.org
Thu Nov 19 15:28:29 PST 2020 

From Business Oregon South Coast RDO:

“The portal is already been closed. $25M in asks in 22 minutes.”

--
Emily Bradley
Economic Development Specialist | South Coast Development Council, Inc.<https://www.scdcinc.org/>

2110 Newmark Ave.
Coos Bay, OR 97420
541-888-7003 | emily at scdcinc.org
https://www.scdcinc.org/

[cid:image006.png at 01D6BE88.AC1C64E0]

From: OMS_MANAGERS <oms_managers-bounces at omls.oregon.gov> On Behalf Of Todd Carpenter
Sent: Thursday, November 19, 2020 3:26 PM
To: STUART Sheri * OPRD <Sheri.Stuart at oregon.gov>; Oregon Main Street program managers <oms_managers at omls.oregon.gov>
Subject: Re: [OMS_MANAGERS] Update on Additional Business Funding through Business Oregon

wow...  it says it's closed already :(  22 minutes?  or did it even open?

On Thu, Nov 19, 2020 at 8:13 AM STUART Sheri * OPRD via OMS_MANAGERS <oms_managers at omls.oregon.gov<mailto:oms_managers at omls.oregon.gov>> wrote:
FYI – update on the funding that opens today through Business Oregon
From: LIEBE Annette * GOV
Sent: Wednesday, November 18, 2020 4:57 PM
To: LIEBE Annette * GOV <Annette.LIEBE at oregon.gov<mailto:Annette.LIEBE at oregon.gov>>
Subject: Central Oregon Economic Development Committee: Additional Business Funding

From Carolyn Meece, Regional Development Office for Business Oregon:

As I hope you have heard, Business Oregon has been awarded $20 million more to assist Oregon small businesses, the announcement is below this email.  The application portal for small businesses will open tomorrow and I don’t think it will take long to get subscribed/oversubscribed.  Please be aware that this is my best information as of right now.  I am hoping you will help me get this information out to small businesses.


  *   The portal should be opening tomorrow (maybe late morning or early afternoon).
  *   These funds are the $20 million from EBoard/CARES funds.  The $55 million is a separate pot and will be awarded to Counties.
  *   This will be on a first come/first served basis with a geographic overlay and open until somewhat oversubscribed.
  *   We expect the portal to close quickly, maybe 24 hours?
  *   There are two parts to the process.  The application and the follow up information.
  *   The application will be relatively simple and needs to be complete as soon as possible once portal opens.  Make sure all questions are answered and boxes are checked.  Here are some suggestions of info to have on hand when completing the application (please understand I haven’t seen the application, so am taking best information of what will be needed):

     *   Company name as registered with SOS, address, & phone number
     *   Information from form 132 to provide hours to get to FTE. FTEs will be used, not specific employee numbers.
     *   PPP, EIDL & EIDLA awards amounts.
     *   BIN
     *   EIN
     *   NAICS
     *   Info on any business owner(s) that hold 20% or more in the company. Name, address, phone # & SSN.

  *   After eligibility of company and completeness of application are determined, follow up documentation will be requested and include:

     *   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).
     *   This information will need to be returned no later than December 1, 2020.

We expect and are targeting to have these funds fully deployed and out to small businesses by December 15 (payments to businesses will be batched daily as applications are completed and awards are finalized).

Please let me know if you have any questions and I’ll see if I can get answers!

Sincerely, Carolyn

Carolyn Meece, CEcD
Regional Development Officer
Business Oregon | www.oregon4biz.com<http://www.oregon4biz.com/>
503-704-1311 mobile

[Business Oregon Facebook]<https://www.facebook.com/BusinessOregon>  [Business Oregon Twitter] <https://twitter.com/BusinessOregon/>   [Business Oregon LinkedIn] <https://www.linkedin.com/in/carolyn-meece-1170b6b/>

[Sig_Mask]







As the economic impacts of the pandemic continue, the Oregon legislature and Governor Kate Brown have allocated millions more in grant funding for Business Oregon to deliver into the hands of small businesses across Oregon
View this message<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct0_0/1/m?sid=TV2%3A1dyxHZ6rz> in a browser window.

[Business Oregon logo]<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct1_0/1/l?sid=TV2%3A1dyxHZ6rz>
FOR IMMEDIATE RELEASE
November 18, 2020
More Grants to Help Oregon Small Businesses are on the Way
Salem, OR — As the economic impacts of the pandemic continue, the Oregon legislature and Governor Kate Brown have allocated millions more in grant funding for Business Oregon to deliver into the hands of small businesses across Oregon. On Monday, November 9th, the Emergency Board of the Oregon Legislature approved $20 million more to Business Oregon’s Emergency Business Assistance Grant Fund. This funding and program are separate from the $55 million in funds the Governor also announced this week.
This grant fund has already put approximately $25 million out into the community through four rounds of funding. The first four rounds were allocated from Business Oregon to intermediary lenders such as cities, counties, Community Development Financial Institutions (CDFIs), and Economic Development Districts (EDDs), who in turn granted the money to individual businesses. With this new round, Business Oregon is able to fund businesses directly. The grants are available to small businesses that have seen lost revenue due to the pandemic, and that meet a minimal set of requirements.
“This funding is timely, as we face the sharp increase in COVID-19 under this new wave of the pandemic,” said Business Oregon Director Chris Cummings. “These grants can help our small business owners today, but to get back to business in the long haul we’ve got to do what it takes now to stop the spread of this virus.”
This round makes some changes to previous rounds of grant funding under the program, so that more businesses can access the funds. Businesses with up to 100 employees can apply, whereas previous funding was limited to those with up to 25 employees, to ensure smaller businesses could access the funds first.
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 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 26 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.
Businesses are eligible to receive up to $200,000 in grant funding as detailed in the grant application. To be eligible, a business must show it was prohibited from operations by the Governor’s Executive Order 20-12<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct2_0/1/l?sid=TV2%3A1dyxHZ6rz>, or demonstrate a 25% reduction in sales over a 30-day period in 2020 compared to a comparable period in 2019.
Tomorrow, Thursday November 19, the application form and additional details will be found on Business Oregon’s website<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct3_0/1/l?sid=TV2%3A1dyxHZ6rz>. If the application is not yet posted in the morning, a time estimate will be provided on the web page. Grants will be reviewed on a first-come first-served basis, and will be allocated so that there is an equitable geographic distribution of funds as dictated by the Oregon Legislature.
The application portal will close once applications totaling $25 million in requested grants are received. Business Oregon will reopen the portal if any funds remain after reviewing those initial applications for eligibility.
Additional resources and information on COVID-19 response can be found on the department’s website<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct1_1/1/l?sid=TV2%3A1dyxHZ6rz>, and the Governor's COVID-19 web page<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct4_0/1/l?sid=TV2%3A1dyxHZ6rz> has the latest guidance.
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 www.oregon4biz.com<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct5_0/1/l?sid=TV2%3A1dyxHZ6rz>.

Media Contact: Nathan Buehler<mailto:nathan.buehler at oregon.gov>  503-689-3559

________________________________
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 www.oregon4biz.com<https://development.oregon4biz.com/acton/ct/14786/s-044e-2011/Bct/q-000c/l-0007:9d/ct1_2/1/l?sid=TV2%3A1dyxHZ6rz>

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--
Thanks,
Todd Carpenter
PO Bo 2688
The Dalles, OR 97058
Cell:  503-705-2889
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