Economic Development Office Announces $135,000 in Grant Funding to Corvallis Small Businesses
March 9, 2021 - The Corvallis-Benton Economic Development Office, in partnership with Community Lending Works, will distribute $135,000 to small businesses within the Corvallis city limits who employ low-to-moderate income workers and have been adversely impacted by the COVID-19 public health restrictions in 2020 and continuing into 2021. The funding comes through the U.S. Department of Housing and Urban Development’s (HUD) Community Development Block Grant (CDBG) program.
At a minimum, businesses must be for-profit, headquartered and operational in Oregon for at least one (1) year, and be located within Corvallis city limits. Other eligibility restrictions apply. Businesses must complete a pre-screening questionnaire that will help determine eligibility and viability. Additional information is available online.
Grants will be awarded as follows:
- Sole Proprietors – $5,000
- Microenterprises (5 or fewer FTE, including owner) - $10,000
- Small Businesses (6+ FTE) - $2,500 per FTE up to $25,000
Additional funding for businesses located in Benton County, outside of the Corvallis city limits is forthcoming. Interested businesses are encouraged to notify the Corvallis-Benton County Economic Development Office of their interest and join the wait list.
More resources for business, www.yescorvallis.org/resources. If you have questions, feel free to contact the Economic Development Office at economic.development@corvallisoregon.gov, or via phone 541-766-6422.
