The Corvallis-Benton Economic Development Office, in partnership with Central Willamette Credit Union, will distribute $260,000 to small businesses in Benton County that have been adversely impacted by the COVID-19 pandemic.
Donor Name: Corvallis-Benton Economic Development Office
State: Oregon
County: Benton County (OR)
Type of Grant: Grant
Deadline: 09/13/2023
Size of the Grant: $10,000
Details:
Funding Information
Grants are for $10,000.
Uses of Funds
- Businesses must use grant funds to mitigate financial hardships such as supporting payroll and benefits, cost to retain employees, or mortgage, rent, utility, and other operating costs.
- Small businesses disproportionately impacted may receive grants for the additional purposes of rehabilitation of commercial properties, storefront and façade improvements; start up or expansion costs; or support for microbusinesses.
Business Eligibility Criteria
- Business must be located in Benton County and employ a majority of their employees in Benton County.
- Business must have no more than 500 employees and must be a small business concern as defined in section 3 of the Small Business Act; which includes the requirements that eligible businesses must:
- Be a for-profit business of any legal structure;
- Be independently owned and operated; and
- Not be nationally dominant in its field.
- Business must have been in existence prior to June 30, 2021 and continue to exist and operate through date grant funds would be disbursed. This criterion may be demonstrated by providing documentation to confirm business registration with the Oregon Secretary of State and provision of federal income tax documentation that covers prior to June 30, 2021 through the time of application; or other documentation upon mutual agreement of the City and Contractor.
- Businesses must operate their business from a physical location in Benton County.
- Business must have been either impacted or disproportionately impacted by the pandemic. The U.S. Treasury defines impacted small businesses as those that can demonstrate any of the following: closed during the pandemic, decreased revenues or gross receipts, increased cost, or reduced capacity to weather financial hardship. Small business that are considered disproportionately impacted include small businesses operating in a Qualified Census Tract; small businesses operated by Tribal governments or on Tribal lands; or small businesses operating in the U.S. territories.
Ineligibility
Eligible Businesses do not include:
- Marijuana businesses
- Businesses that employ a majority (greater than 50%) of their employees outside of Benton County.
- Non-profit entities including 501(c)(3) and 501(c)(6) organizations.
For more information, visit CBEDO.
