Additional COVID-19 Emergency Business Grants Available Now
Medford, Oregon – Southern Oregon Regional Economic Development, Inc. (SOREDI) is pleased to announce that additional COVID-19 Emergency Business Grants are available now throughout Jackson and Josephine Counties. Time is limited for the deployment of an additional $250,000 in the region and businesses are urged to apply today.
SOREDI will partner with its counterpart agency, CCD Business Development Corporation (CCD) which successfully received a fourth round of Emergency Business Assistance Grants from Business Oregon. The purpose of the program is to provide financial assistance to small businesses adversely affected by economic conditions associated with the COVID-19 pandemic. The State of Oregon has allocated $17.5 million statewide in Round 4.
To date, SOREDI has disbursed a total of $145,000 in round one funding to Jackson County, and assisted partner entities Talent, Ashland, Shady Cove, and Central Willamette Credit Union in the disbursement of $385,000 of awarded funds Jackson and Josephine Counties since June 2020.
The $17.5 million in Round 4 is available now on a first come, first served basis. If businesses step up and apply, the two agencies could approve and disburse additional grants in the region. Round 4 is expected to be the last round of grant funding made available.
Executive Director, Colleen Padilla, reports “this is an extraordinary collaboration of two economic development districts to quickly help businesses access much-needed resources. For our region that has also been impacted by fires, this additional infusion of grant funds to qualifying businesses is critical. We are extremely grateful to CCD for their partnership.”
Because of the tight State disbursement timelines and delays in issuing checks due to immediate fire response priorities, funds from Rounds 1-3 are still available – in addition to Round 4 funds – in some areas. Jackson County still has about $115,000 in Round 3 funding. Additionally, the City of Medford will partner with SOREDI and CCD to deploy up to $140,000 of their remaining Round 1 and Round 3 funding. Qualified businesses will be funded first from earlier rounds until funds are depleted, then Round 4 funds will be accessed.
First time applicants can apply now using the Round 3 application found online at www.soredi.org/covid/matching. Businesses who have already received an award, in Rounds 1, 2, or 3 will be contacted by a CCD staff member if they are eligible for additional grant funding.
Round 4 allows businesses who may have received previous funding to apply again for additional funds. Executive Directors Colleen Padilla, SOREDI and Theresa Haga, CCD, agree that “businesses need to act fast and apply now!” There is a very short window of time to disburse a large amount of money in the region. Both agencies urge the community to step up and help spread the word that new funds area available.
Round 4 of funding comes with a new set of eligibility requirements which opens the door for more businesses to apply. It also allows some prior awardees to get additional funds. Small businesses will be eligible under the following conditions:
- The business or 501c3 non-profit is in Jackson or Josephine County.
- The business is actively registered with the Oregon Secretary of State, if required by Oregon law.
- The business has 25 or fewer employees.
- The business can demonstrate a one-month decline in sales of 25% or greater. (Any month between March 1, 2020 and August 31, 2020 compared to same month in 2019)
- The business has not received over $100,000 in federal funding (PPP, EIDL)
First time applicants can apply now using the Round 3 application found online at www.soredi.org/covid/covidgrants. Businesses who have already received an award, in Rounds 1, 2, or 3 will be contacted by a CCD staff member if they are eligible for additional grant funding.
The application deadline is Wednesday, November 11. These funds are intended to be equally accessible to all businesses including the historically disadvantaged population groups (Asian, Black, Hispanic, Native American, and Women-owned businesses).
The program was funded in part with State of Oregon General Funds and Lottery Funds administered by the Oregon Business Development Department.