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Business Assistance Grants - Applications Now Closed
The City of Lake Oswego has provided some grant funding for local businesses impacted by the COVID-19 pandemic through two generous awards totaling $138,000 from the State of Oregon (Business Oregon). This is in addition to the $251,500 in grants the City has already awarded this year.
Applications closed Sunday, November 8 at 11:59 p.m.
Business Oregon Grants
The program provides individual awards starting at $2,500. The state funds are intended to fill gaps left by other programs and are directed to adversely affected businesses with 25 or fewer employees. Businesses may use the proceeds for any business-related operating expenses.
Eligibility criteria recently expanded to include businesses with 25 employees or fewer.
Is my business eligible to apply?
- Do you have 25 or fewer employees?
- Were you required to close under Governor Brown’s Executive Order 20-12? Or was your income reduced by 50% or more during March or April of this year?
- Do you have a current Lake Oswego Business license?
Businesses that have received federal CARES Act funding (e.g. PPP Loans) or other federal and/or county programs funding are eligible to apply. The grant amount awarded will be reduced by the amount of CARES funding received.
Additionally, 501(c)3 nonprofit businesses are eligible to apply.
Sole proprietors, woman-owned and minority-owned businesses are strongly encouraged to apply. The City of Lake Oswego and Business Oregon are working hard to ensure equitable distribution of funding.
For the application, please have the following information ready:
- Employment Identification Number (Federal EIN)
- Business Identification Number (issued by Oregon Employment Department)
- NAICS Code (as listed on the business’ most recent federal tax filing).
- You may also be required to submit a Profit & Loss Statement for January or February 2020 and one of the months from March to August 2020 that demonstrates a minimum of a 50% drop in revenue.
- If you are requesting the full grant amount for the size of your business, you will be asked to submit business eligible expenses (such as rent/lease agreement, Oregon Employment Department Form 132 or a copy of recent utility bills) supporting the requested amount.
Applications are now closed.