OREGON CITY, Oregon - City Commissioners took action to assist Oregon City small businesses impacted by the outbreak of the novel coronavirus (COVID-19) by launching a debt relief initiative on Monday, April 27, 2020. The City's general fund will provide $200,000 in grant funding to eligible businesses within the city limits of Oregon City to provide financial relief.
"The outbreak of COVID-19 in Oregon City has sent us into uncharted territory, and the economic impacts will be significant and far-reaching, especially on Main Street. The scope and scale of this new challenge require action to support workers and businesses," said Mayor Dan Holladay. "The debt relief initiative announced today is a critical step that helps mitigate some economic impacts of this unprecedented challenge and helps business owners to weather the storm."
The goal of Oregon City's Business Debt Relief Initiative is to reduce existing debt pressures against small businesses adversely impacted by COVID-19. Eligibility requirements for program funding include businesses with up to 15 full-time employees including the owner(s); operation within a commercially-zoned building within the city limits of Oregon City; businesses must prove loss of income due to the COVID-19; and businesses must have been in operations for at least one year with a current City business license as of March 23, 2020.
Reimbursement grants of up to $3,000 per business is available for those eligible. Although program guidelines and application (in English and Spanish) will be on the City's website April 28, applications will not be accepted until 9:00 am on Monday, May 4, 2020. All applications will be considered complete if they have all required and eligible attachments. All applications will be accepted on a first come, first serve basis until available funding has been utilized. All incomplete applications including unsigned applications, attachments missing, ineligible business status and/or ineligible funding requests will be disqualified.