The Corvallis-Benton Economic Development Office, in partnership with Central Willamette Credit Union, will distribute $260,000 to small local businesses that have been adversely impacted by the COVID-19 pandemic.
At a minimum, businesses must be for-profit, headquartered and operational in Oregon for at least one year, and be located in Benton County.
How to find out if your business is eligible
There are some criteria to be met, so businesses need to start by completing a pre-screening questionnaire that will help determine eligibility and viability. Additional information and application materials can be found here: https://www.centralwcu.org/bcbusgrants
At least one-third of the grant funds will go to eligible businesses located outside of the Corvallis and Albany Urban Growth Boundaries. If the number of applications exceeds available funds, first preference will be given to businesses that did not receive government loans or grants during the pandemic. These include funds from the Payroll Protection Program (PPP) or the Economic Injury Disaster Loan (EIDL) program.
If the number of eligible businesses exceeds the funds available, a lottery system will be used to pick grant recipients. For a complete list of eligibility requirements, and more information about the grant program, and how funds will be geographically disbursed in Benton County; visit: https://www.corvallisoregon.gov/business/page/grant-funding-available-benton-county-small-businesses
Grants will be in the amount of $10,000 per award. Eligible businesses must:
- Be located in Benton County and employ a majority of their employees in Benton County;
- Have no more than 500 employees;
- Be for-profit;
- Be independently owned and operated,
- Not be nationally dominant in its field;
- Been in existence prior to June 30, 2021 and continue to exist and operate through the date that grant funds would be disbursed.
- Must have been impacted or disproportionately impacted by the pandemic.
Applications will be received until August 5, 2023 at 5 PM.
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