Small Business Grants in Oregon (OR)
Securing a small business grant in Oregon involves identifying the right grant opportunities, understanding the eligibility criteria, and submitting a well-prepared application. Here are some of the most relevant opportunities and resources for small businesses in Oregon:
Business Oregon’s Programs
Business Oregon, the state’s economic development agency, offers several targeted programs for businesses. These include matching grants to help small businesses export goods to markets outside Oregon. Business Oregon also provides limited grant funding for businesses in several targeted programs. They also offer small business loans in the form of debt financing at favorable terms and work with local banks and credit unions to provide loan guarantees.
Rural Business Development Grants
The USDA Rural Development’s Rural Business Development Grant (RBDG) program provides grants for rural projects that help small and emerging rural businesses. There are two types of RBDG projects: Opportunity grants and Enterprise grants. Applications are accepted through USDA Rural Development’s local or state offices.
SBIR Support Program
The Small Business Innovation Research (SBIR) Support Program is another opportunity for small businesses in Oregon. This program provides funding for small businesses to conduct research and development that has the potential for commercialization.
CDBG-CV Statewide Emergency Small Business & Microenterprise Grant Program
This program, funded with federal grant funds from the Oregon Community Development Block Grant, provides technical assistance to assist with completing the application process. The program is intended to help businesses remain solvent and able to retain/create low- and moderate-income jobs.
SBMA Grants
The Small Business Microenterprise Assistance (SBMA) grants are awarded between $2,500 – $30,000 per business. Microenterprises whose owner meets low- and moderate-income (LMI) criteria can qualify for these grants. Small businesses can qualify for $2,500 per LMI employee retained up to $30,000 in funding.
Technical Assistance (TA) Grants
Business Oregon also provides grant awards to organizations that provide Technical Assistance (TA) to under-served and under-resourced small businesses across the state. The grant program had a total of $4.7 million available to help organizations expand their reach and scale up the assistance provided to these small businesses and entrepreneurs.
Oregon BRC Grants
The Oregon Business Recovery Center (BRC) provides grants to “impacted” small businesses. To qualify for this grant, businesses must have 50 or fewer Full Time Equivalent (FTE) employees and be located within specific Oregon zip codes.
Prosper Portland’s Local Small Business Repair Grants
Prosper Portland offers one-time emergency funds to provide support of up to $10,000 to local small businesses needing repairs.
Application Tips
When applying for these grants, it’s crucial to read the eligibility criteria carefully, prepare a comprehensive application, and submit it before the deadline. It’s also important to note that the grant application process can be competitive, so it’s advisable to explore other financing options such as state-funded loan programs and online business loans. Join POTD For More!