Small Enterprise Fund
What is the Small Enterprise Fund?
The Small Enterprise Fund provides grants up to $25,000 to eligible Oregon micro, very small, and small businesses (as defined below) whose businesses were impacted by COVID-19 or the related health and safety restrictions and who are generally unable to access federal relief. Businesses will be eligible for the following awards based on their business size, COVID impacts, and the strength of their application:
- Micro business (defined as a business with annual revenues less and $50,000)
- Eligible for $7,000 grant
- Very small business (defined as a business with annual revenues between $50,000 and $100,000)
- Eligible for $7,000-$15,000 grant
- Small business (defined as a business with annual revenues between $100,000 and $1 million)
- Eligible for $15,000-$25,000 grant
What kind of documentation will be required for the navigation?
Each applicant must submit:
1. Valid form of identification
2. Proof that you have a business in Oregon
3. Proof of “loss of business income”
What is a valid form of Identification?
Any government issued identity document is acceptable, including non-US documents. Translations are not required. Examples include, passport, State ID, drivers license, matricula, consular card, RENAP cards. The ID cannot be more than 3 years expired. This does not need to be an Oregon ID or prove Oregon residence–it may be from another state or any other government-issued ID listed above.
What documents could be used for providing proof of the Business Registration documentation ? You will only need one of the following:
- Business registration with the State of Oregon. If you do not know if your business is registered, you can look your business up here: https://sos.oregon.gov/business/pages/find.aspx
- Business registration for a city or county in Oregon. Most cities have their own registration and look-up system. Please check with the individual city where your business is located to learn more. Below are several business registration look ups as an example (this is not a comprehensive list):
- A business lease for a location in Oregon
- If you are a sole proprietor and are not required to register your business with the State, city, or county, you will need to submit one of the following as proof that you have a business in Oregon. Note that a sole proprietor may submit the above if you choose to serve a proof of an Oregon business in which case you do not need to submit additional proof from the list below.
- Other examples of “proof of a business in Oregon”
- License from a professional Oregon board such as Cosmetology, Hair Design, Dietician,etc. You can look up Oregon professional licenses here: https://elite.hlo.state.or.us/OHLOPublicR/LPRBrowser.aspX
- Proof of payments for goods or services such as a Point of Sale statement, bank statements
- Other proof of an operating business in Oregon such as a business website, or other indication of commerce in Oregon
- Other examples of “proof of a business in Oregon”
What proof is needed for loss of business income? You will only need one of the following
- Profit and Loss Statements for two years: 2019 and 2020 and/or 2021
- Cash Flow Statements for two years: 2019 and 2020 and/or 2021
- Ledgers for two years: 2019 and 2020 and/or 2021
- Taxes from 2019 and 2020 and/or 2021
- Bank Statements from 2019 and 2020 and/or 2021
- Receipt Records from 2019 and 2020 and/or 2021
- Reports from POS (point-of-sale) systems from 2019 and 2020 and/or 2021
- Evidence of loss of contracts or clients that demonstrates COVID impacts to revenues. It is helpful to see documents from 2019 and 2020 to compare income loss.
- Other: the above list is not exhaustive. You can work with your navigator to find proof or documentation that makes sense for your business while providing credible information.
How will applications be decided?
Every application will be decided on a case-by-case basis. The OWR Coalition will use its current statewide processing structure with applications decided by a business advisory committee. Priority will be given to businesses that have suffered a significant decline in sales or revenue from the COVID pandemic and to micro and very small businesses. Points will be awarded to applications that provide credible proof.
How do I submit a strong application??
Award sizes will be determined based on your business size, the degree to which COVID impacted your business, and how strong your application is. A compelling application should provide clear, credible proof. Work with your navigator to determine what is the best documentation to provide that will help you submit a strong application.
What is meant by “annual revenues”?
Annual revenues only include sales, receipts and/or income from the applicant’s business. Annual revenues do not include applicants personal income. For example, if the applicant has income from a different job or source, this is not included in annual revenues.
Examples of “COVID impacts:
- Increase in costs (for example increased expenses from purchasing Protective Personal Equipment, cleaning supplies, additional costs for meeting social distancing requirements, etc.)
- Loss of clients
- Loss of revenues and/or decline in sales after February 1, 2020
- Required closures that have impacted revenues
- If the business is still under mandate to remain closed due to State COVID restrictions