Business Oregon is offering $50,000 in COVID relief funding to qualified small business owners in Lincoln County.
TLC, a Division of Fibre Federal Credit Union and Point West Credit Union are spreading the word about the grant opportunity. Point West is an authorized grant funder, but applicants do not need to be a member of Point West to receive a grant. Business owners can visit pointwestcu.com/bizgrants for full details and to apply. All applications are due by Monday, August 17.
Grants will be awarded on a first-come, first-served basis with a focus on sole proprietorships. Available amounts range from $2,500 to $5,000. Depending on the grant value, verification of documented expenses may be required for approval by Point West.
Qualifying small business applicants must meet all of the following eligibility requirements: The business must be headquartered in Oregon, registered with the Oregon Secretary of State to do business in Oregon, and have five or fewer employees. Qualifying businesses can be either for-profit or non-profit (limited to 501(c)(3) corporations) who have been prohibited from operation as directed by Executive Order 20-12, or who can demonstrate declines in revenue in March 2020 and April 2020 when compared with previous periods.
Qualifying businesses must also have been unable to access federal CARES Act funding from the Paycheck Protection Program (PPP), Small Business Administrations’ (SBA) Economic Injury Disaster Loan Emergency Advance program (EIDL), or other federal programs to date for emergency pandemic funding.