Small Business Administration (SBA)
Washington County is providing funding to support a grant program and a loan program for small businesses within the County. Applications are being accepted from 8 a.m. Wednesday (April 15) to 5 p.m. Thursday (April 16). All applications that are submitted will be reviewed to meet eligibility requirements and to ensure County goals of reaching across the County and providing resources to businesses that have historically faced difficulty accessing banking tools.
Qualifying businesses are those that:
- Are negatively affected by the current COVID-19 outbreak;
- Are physically located in Washington County and serve County residents;
- If the business is part of a chain, business is an individually owned franchise;
- Have had no more than 25 employees at any time between Jan. 1 and March 23, 2020;
- Have not received funds from similar programs established within the county (e.g. cities, WCVA); and
- Have been in operation for at least one year.
City of Tigard
Tigard CARES (Commercial Assistance & Relief for Economic Stability) will provide financial assistance totaling up to $1,000,000 to help firms overcome the temporary loss of revenue from the COVID-19 crisis.
Tigard CARES will provide assistance for:
- Fixed expenses such as rent, insurance and other fixed operating expenses
- Employee retention (payroll)
- Inventory preparedness for when business restarts
The City of Tigard has partnered with two local federally accredited Community Development Financial Institutions (CDFIs) to deliver a combination of micro-loans, grants and business-advising services for Tigard firms.
Financial assistance will include small grants of at least $1,500 for Tigard firms to meet immediate need and low interest loans of between $10,000 and $50,000 for firms that need a larger amount of bridge funding to cover two to three months of operating costs before they collect federal SBA funds.