Business Oregon has opened a Request for Grant Applications (RFGA) for the Economic Equity Investment Program—a new program created to promote durable economic advancement among historically marginalized communities.
Donor Name: Business Oregon
State: Oregon
County: All Counties
Type of Grant: Grant
Deadline: 02/21/2023
Size of the Grant: $15 million
Details:
The Economic Equity Investment Program is intended to provide assistance to help address vast and persistent economic disparities among Oregonians and aims to advance economic equity for people historically excluded from or encumbered by barriers to accessing wealth building opportunities. It acknowledges the legacies of discrimination and disenfranchisement of certain populations and seeks to close historic economic inequities by investing in wealth building opportunities for underrepresented individuals, families, businesses, and communities.
The Economic Equity Investment Program is designed to chip away at the edifice of inequality. It seeks to harness the knowledge and experiences of intermediary organizations to deliver programming and resources to individuals, families, businesses, and communities historically harmed by prevailing systems and institutions. As such, it represents a small but vitally important step to improving social and economic outcomes among marginalized communities in Oregon.
Funding Information
The Economic Equity Investment Program (EEIP) offers nearly $15 million in grant funding to culturally responsive organizations to provide outreach, support, and resources to eligible beneficiaries to address longstanding economic inequities. Successful applicants will demonstrate a meaningful track record of delivering programs or resources to target populations within at least one of the following key areas: land ownership and real property acquisition, entrepreneurship and business development, workforce, and intergenerational wealth building.
Eligible Activities
- Ownership of land, principal residences, and other real property:
- Down payment assistance, Individual Development Accounts, retail space, foreclosure prevention, land grants and community land trusts, and education related to wealth-building through home ownership.
- Entrepreneurship and business development:
- Business loans or forgivable loans, business grants, access to professional services, Individual Development Accounts, equipment purchases, training or programs, licensing fees, immigration fees, and personal and business tax preparation.
- Workforce development:
- Job training, paid internships, apprenticeships, re-entry programs, job readiness support, job search assistance, and trade and technology programs.
- Intergenerational wealth building:
- Children’s savings accounts, credit counseling, matched savings programs, bonds or other safe investment vehicles, and debt reduction.
Eligibility Criteria
- Nonprofit and community-based organizations with active 501(c) (3) status, including organizations who are fiscally sponsored by a separate 501(c) (3)
- Tribal Governments
- Chambers of Commerce with active 501(c) (6) status
- Municipalities, as defined by ORS 285A.010 (12)3F located in rural areas of Oregon, as “Rural” is defined by ORS 285A.010 (14)4F
- Economic development or workforce development organizations with active nonprofit status
For more information, visit Business Oregon.