Grant Funding Available to Benton County Small Businesses
Grant Opportunities
Downtown Corvallis Revolving Loan Fund Program
The Corvallis-Benton County Economic Development Office is now accepting complete applications on a first come, first served basis for the Corvallis Downtown Revolving Loan Fund Program. The total program funds available are $38,500 until more funding becomes available in the future. Applications are accepted on an ongoing basis until all funds are expended. Loan funds can be used for a variety of business investments, including rehabilitation, painting, window repair, interior design, electrical and plumbing upgrades, and sustainability improvements.
South Corvallis Revolving Loan Fund Program
The Corvallis Urban Renewal Agency has approved a new Revolving Loan Fund Program aimed at supporting new and existing businesses and encouraging commercial investment in the South Corvallis Urban Renewal District. The first funding cycle application window opens October 22 and closes Friday December 27 at 5 p.m.
Eligible projects include building and façade renovations, new construction, and renewable energy improvements at commercial properties within the South Corvallis Urban Renewal District. Low interest financing up to $100,000 per business or property is available. $250,000 is available to serve requests this funding cycle. Projects will be competitively evaluated based on their ability to meet some or all of the listed criteria.
Entrepreneurial Development Loan Fund
Provides direct loans to help start-ups, micro-enterprises, and small businesses expand or become established in Oregon. This fund fills a niche not provided through traditional lending markets.
Advance Manufacturing Federal Contract Competitiveness Funding (AMFCCF)
Assists small, advanced manufacturing businesses in Oregon by increasing industry competitiveness and supporting the attainment of the compliance standards required for federal contract participation. Grants will be awarded up to 50% of the total project cost with a maximum grant award amount of $150,000 per company
The Oregon Department of Agriculture (ODA) Oregon Food Processing Machinery & Equipment Tax Exemption Program for Tax Year 2024
This program offers a valuable property tax exemptions for machinery and equipment used in essential food processing activities, helping you reduce costs while expanding operations.
Application Period: By January 1st, 2025 to ensure timely scheduling and certification; forms submitted and inspected after March 1st, 2025, will incur a late fee.
Ongoing Grant Opportunities
Entrepreneurial Development Loan Fund (EDLF) – Created by the Oregon Legislature in 1991, the Entrepreneurial Development Loan Fund provides direct loans to help start-ups, micro-enterprises, and small businesses expand or become established in Oregon. This fund fills a niche not provided through traditional lending markets. Find more information here.
Backing Small Businesses Grant Programs – To back underrepresented small business owners as they navigate post-pandemic and plan for long-term success and resilience, American Express is partnering with Main Street America to launch a $1.65M year-round program called Inclusive Backing. As part of American Express’ Backing Small initiative, the program will provide hundreds of underrepresented small businesses with financial support as well as other resources to address their critical needs and challenges. Find more information here
