Funded by the American Rescue Plan Act, the Small Business Stabilization Restore Grant Program provides one-time direct grants to support Portland small businesses experiencing hardships resulting from the COVID-19 pandemic.
Donor Name: Prosper Portland
State: Oregon
City: Portland
Type of Grant: Grant
Deadline: 08/11/2023
Size of the Grant: Up to $25,000
Details:
Prosper Portland will administer American Rescue Plan Act funds as one-time direct grants to help stabilize small businesses by addressing operational expenses for businesses within certain districts in the city.
Priorities
Prosper Portland is committed to making racial equity the foundation of the community and economic development work. They embrace values of authentic inclusion, transparency, and collaboration, and we are directing this grant toward meeting the needs of underserved and underrepresented Portland communities and neighborhoods.
Prosper Portland invites candidates to include aspects of your identities such as racial diversity, abilities, language, culture, sexual orientation, gender etc. as you feel safe to share.
Funding Information
The Restore Grant Program can provide up to $25,000 to eligible small businesses to reimburse for eligible expenses related to damages and vandalism that occurred since January 2022.
Eligible Expenses
Restore Grant funds can be issued for the following expenses:
- Security and prevention
- Insurance premium increases due to losses, claims
- Back rent
The Restore Grant can only cover back rent with a signed agreement from the landlord that offsets rent due to the COVID-19 pandemic. - Interior repairs due to vandalism or break-ins
- Inventory loss or equipment replacement costs due to break-ins (up to $5,000)
Eligibility Criteria
To be eligible, the applicant must be a person or entity that operates a small business with a bricks & mortar presence which maintains consistent hours of operation. Further, the following business criteria apply:
- Be located along commercial corridors of 82nd Avenue, East Portland (I.e., east of I-205), N/NE Portland, Central City, or Inner Westside Portland.
- Have been in business prior to March 2020 when COVID was declared a pandemic.
- Employ 3 or more employees.
- Had 2019 Annual Gross Revenue up to $3M.
For more information, visit Prosper Portland.