SCOEDD Launches Business Assistance Grant Program
South Central Oregon Economic Development District (SCOEDD) has launched an Emergency Business Assistance Grant Program for small businesses and sole proprietors in Klamath and Lake Counties, according to a news release.
SCOEDD created the program in collaboration with Business Oregon, Klamath County, Lake County, and the City of Klamath Falls. Funds from the State of Oregon have been matched with local dollars to pool total grant resources of $440,000. The program is targeted at proprietors who have 1-25 employees and have not been able to secure financial assistance from the CARES Act through the PPP or EIDL programs.
“While the Federal support programs have helped numerous businesses throughout the region, there are many who still need assistance,” said SCOEDD executive director Betty Riley. “Some of our smallest employers and those who have simply created a job for themselves remain without the financial support they need to survive.”
In addition to the requirement that the business have its headquarters and principal operations in Klamath or Lake County, Oregon and be current with their state and local registration and licenses, grant applicants will also need to be qualified by any of the following circumstances:
■ A for-profit or non-profit (limited to 501(c)(3) corporations) business that was prohibited from operation as directed by Executive Order 20-12.
■ A for-profit business that can demonstrate a one-month decline in sales greater than 50% in the month of March 2020 or April 2020 as compared against sales in the month of January 2020 or February 2020.
■ A non-profit business (limited to 501(c)(3) corporations) that can demonstrate a decline in revenue greater than 50% across the months of March 2020 and April 2020 as compared against the same period of time in 2019.
Base grant amounts will be determined by the number of employees. Proprietors who wish to apply for more than the base amount will be required to provide detailed records of fixed expenses. Base grant amounts start at $2,500 and go up to $12,500. Grant funds may be used for any business-related operating expense necessary in reopening or operating.
“While we wish we had endless resources to support our businesses in this crisis, the program is limited. We will do our best to meet applicant needs, but we expect to have more requests than we do funds. So, if we are over-subscribed, completed applications will be placed into a drawing and awardees will be determined by lottery,” described Riley. “All grant awards will be announced on Monday, July 20th.”
Applications will be accepted until 5:00 pm on July 15, 2020. For detailed program requirements and the downloadable electronic application, please visit SCOEDD.org. Applications can be returned via email to email@example.com or in two locations: one at the SCOEDD office at 803 Main Street, Suite 202 in Klamath Falls and the other at the Lake County Treasurer’s Office at 513 Center St. Suite 217, Lakeview. Questions can be answered by calling 541-884-5593.