Funded by the American Rescue Plan Act, the Small Business Stabilization Restore Grant Program provides one-time direct grants to support Portland small businesses experiencing hardships resulting from the COVID-19 pandemic.
Donor Name: Prosper Portland
State: Oregon
City: Portland
Type of Grant: Grant
Deadline: 06/26/2023
Size of the Grant: Up to $25,000
Details:
It is intended to help stabilize small businesses through financial assistance by addressing operational expenses related to impacts of vandalism and break-ins up to $25,000.00 per business. This is a highly competitive grant process, given that the need is greater than the resources available.
Priorities
- Prosper Portland is committed to making racial equity the foundation of their community and economic development work. They embrace values of authentic inclusion, transparency, and collaboration, and they are directing this grant toward meeting the needs of underserved and underrepresented Portland communities and neighborhoods.
- The Foundation invites candidates to include aspects of your identities such as racial diversity, abilities, language, culture, sexual orientation, gender etc. as you feel safe to share.
Funding Information
The Restore Grant Program can provide up to $25,000 to eligible small businesses to reimburse for eligible expenses related to damages and vandalism that occurred since January 2022.
Eligible Expenses
Restore Grant funds can be issued for the following expenses:
- Security and prevention
- Insurance premium increases due to losses, claims
- Back rent
- Interior repairs due to vandalism or break-ins
- Inventory loss or equipment replacement costs due to break-ins (up to $5,000)
Eligibility Criteria
To be eligible, the applicant must be a person or entity that operates a small business with a bricks & mortar presence which maintains consistent hours of operation. Further, the following business criteria apply:
- Be located along commercial corridors of 82nd Avenue, East Portland (I.e., east of I-205), N/NE Portland, Central City, or Inner Westside Portland
- Have been in business prior to March 2020 when COVID was declared a pandemic.
- Employ 3 or more employees.
- Had 2019 Annual Gross Revenue in the range of $300k – $3M.
Ineligible Expenses
The Restore Grant is intended to be a companion to the Repair Grant which provides funding to small businesses for physical repairs of damage to the exterior of their ground floor storefront as a result of vandalism. Any eligible expenses under the Repair Grant will be considered ineligible for this program:
- Temporary window or door board-up
- Window repair / replacement
- Door repair / replacement
- Graffiti removal / Paint over
- Sign repair / replacement
For more information, visit Prosper Portland.
