Businesses based in Newport, Yachats and other parts of Lincoln County that have not received funding through the Federal CARES Act grants may be eligible for up to $25,000 in new grants.
In an effort to support the business community, Oregon’s COVID-19 Emergency Business Grants will not need to be paid back. There is still around $90,000 left to be distributed, but only for the next month.
“For many businesses, the economic impacts of the COVID-19 pandemic have been overwhelming,” said Lincoln County Counsel Wayne Belmont. “In Lincoln County, like communities across the country, the dramatic slowdown of revenues has forced businesses to adapt, diversify, and for some, to close their doors. This financial support couldn’t have come at a better time.”
Oregon’s COVID-19 Emergency Business Grants will be accessible for those businesses that qualify. A pre-screening application will be required for all businesses seeking access to these funds through Community LendingWorks (communitylendingworks.org/emergency-grants).
“We have funding available for all of our businesses that have not received either PPP or EIDL funding,” Yachats Mayor John Moore said. “Even if you’re just a sole proprietor, these funds can pay for quite a few of your expenses, so please take advantage of it.”
Through a cost-share partnership with the state of Oregon ($120,000) and local governments ($225,000), businesses in Newport, Yachats and the rest of Lincoln County have access to $345,000.
Depending on the number of employees and fixed business expenses, businesses that apply can receive between $2,500 and $25,000.
“With businesses in our community struggling, it is critical these funds be made available as quickly as possible,” Newport City Manager Spencer Nebel said. “Small businesses are the lifeblood of our community. Hopefully these funds will see them through the worst of this economic and health pandemic.”
Community LendingWorks can help businesses submit their grant applications. Applications are due by Sept. 30. Business can learn more by visiting www.co.lincoln.or.us/boc/page/small-business-emergency-covid-19-grants or by calling Community LendingWorks at 541-345-0446.