ROSEBURG — CCD Business Development Corporation was successful in receiving $415,000 from Round 1 and 2 of the State of Oregon COVID-19 Emergency Business Assistance Program. The purpose of the program is to provide financial assistance to small businesses adversely affected by economic conditions associated with the COVID-19 pandemic that have not received federal emergency assistance under the federal CARES Act or other federal programs to date.
The $415,000 received from the State of Oregon COVID-19 Emergency Business Assistance Program will be disbursed to eligible small businesses in the form of grants.
CCD received additional funds from the City of Roseburg, Rogue Credit Union and the Port of Umpqua to increase the fund to $475,000.
Small businesses will be eligible under the following conditions:
• Businesses that have been adversely affected economically in one of the following two categories:
• Those for-profit and non-profit (limited to 501(c)(3) corporations) businesses that were prohibited from operation as directed by Executive Order 20-12.
• Those eligible for-profit businesses that can demonstrate a one month decline in revenue greater than 50% in the month of March 2020 or April 2020 as compared against sales in the month of January 2020 or February 2020. Those non-profit businesses that can demonstrate a decline in revenue greater than 50% across the months of March 2020 and April 2020 as compared against the same period in 2019.
• Businesses with 25 or fewer employees.
• Businesses that have been unable to access federal CARES Act funds to date, including:
• Small Business Administration’s Paycheck Protection Program (PPP);
• Economic Injury Disaster Loan Emergency Advance Program (EIDL);
• Other federal programs to date for emergency pandemic funding.
CCD will begin accepting applications on June 29, 2020. These funds are intended to be equally accessible to all businesses including the historically disadvantaged population groups (Asian, Black, Hispanic, Native American, and Women Owned Businesses). The program is opened to any eligible business located in Coos, Curry and Douglas counties.
For additional information, contact: Theresa Haga, executive director/finance manager, 541-756-4101, ext. 1.
The program was funded in part with State of Oregon General Funds and Lottery Funds administered by the Oregon Business Development Department.