COMMUNITY MATCHING FUNDS HAVE FEWER RESTRICTIONS FOR SMALL BUSINESS GRANTS.
New funds have been released for small business emergency grants and applications are being accepted now. These funds are local matching dollars leveraged by the City of Newport and Lincoln County for the prior grants approved by the State of Oregon Emergency Board. The City of Newport has $100,000 available for small businesses in Newport, and Lincoln County has another $100,000 for business anywhere else in the county.
“I am thankful we can offer another opportunity for our small business community as we continue to mitigate COVID and the threat is presents to Lincoln County” said Commissioner Claire Hall on Tuesday. “Businesses should experience a straightforward application process and Community Lending Works who is administering this program is available to answer any questions. They have been a fantastic partner in the grant process.”
Businesses can register for this grant program until October 19th at 11:59pm. Eligible businesses will be placed in a lottery and will receive a formal application in the lottery-determined order. They must be for-profit, have 25 or fewer FTE (full-time equivalent) employees as of the end of 2019, and be located within Lincoln County. Businesses are eligible regardless of having received assistance from any other programs, including PPP and EIDL.
The grant awards will be distributed as a lottery. A pre-screening application will be required for all businesses seeking access to these funds through Community Lending Works (https://communitylendingworks.org/emergency- grants/).
“With businesses in our community struggling, it is critical these funds be made available as quickly as possible” said Newport City Manager Spencer Nebel. “Small businesses are the lifeblood of our community. Hopefully these funds will see them through the worst of this economic and health pandemic.”
Grants will be awarded as follows:
Sole Proprietors: $5,000 2-10 FTE: $10,000 11-25 FTE: $20,000
Community Lending Works can help businesses submit their grant applications. Applications are due by October 19, 2020. Business can learn more by visiting communitylendingworks.org/emergency-grants-lincoln-county or by calling Community Lending Works at (541) 345-0446.