State Small Business Credit Initiative
This funding opportunity provides financial support to nonprofits and similar organizations that assist socially and economically disadvantaged individuals and very small businesses with essential legal, financial, and accounting services.
This grant focuses on supporting socially and economically disadvantaged individuals (SEDI) and very small businesses (VSBs) by providing legal, financial, and accounting assistance. The initiative is part of the expanded SSBCI program under the American Rescue Plan. Key details include: Total Funding Available: Approximately $600,000. Eligible Applicants: Nonprofits, chambers of commerce, tribal governments, and other similar entities with at least two years of experience supporting SEDI and VSB businesses. Services: Technical assistance includes legal support (contracts, compliance, etc.), financial advisory (budgeting, credit counseling), and accounting (invoicing, tax preparation). Grant Submission Deadline: Applications are due by November 10, 2024, and must be submitted via email to Daniel.geiman@biz.oregon.gov.
Award Range
Not specified - Not specified
Total Program Funding
$600,000
Number of Awards
Not specified
Matching Requirement
No
Eligible Applicants
Additional Requirements
Eligible Applicants Eligible applicants include nonprofit and community-based organizations with an active 501(c)(3) status; Chambers of Commerce, nonprofit trade associations, and other 501(c)(6) status entities; Tribal governments; Economic Development Districts, and federally recognized small business resource providers. Additionally, successful applicants will meet and demonstrate in their applications the following minimum requirements: • Are registered to do business in Oregon; • Have been in operation and provided relevant services for a minimum of two years; • Have experience supporting access or securing capital for established and/or growth oriented SEDI-owned businesses and VSBs; and • Have experience managing a program, including assessing individual eligibility criteria, working with subrecipients, compliance monitoring, tracking outcomes, and submitting reports, as required.
Geographic Eligibility
All
Application Opens
Not specified
Application Closes
Not specified
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