Good morning everyone,
As mentioned in my email yesterday, $20M for Round 5 will be open today at 3pm for businesses not eligible in earlier rounds. Businesses with up to 100 employees can apply, whereas previous funding was limited to those with up to 25 employees, to ensure the smallest business could access the funds first.
Keys to having a successful and complete application include being prepared to provide:
· Financial statements (P&L/Income Statements) for comparable periods in 2019 and 2020 demonstrating a 25% decline in revenues/sales (between March 1, 2020 and August 31, 2020) unless the business was required to close under Executive Order (EO) 20-12 and EO 20-65 (revenue/sales verification waived for these businesses.
· Loan documents for PPP & EIDL loans.
·       Oregon Employment Department (OED) Form 132 to verify employment (Q4 2019, Q1 2020, Q2 2020 or Q3 2020).
· Businesses will need to know the total employee hours reported to Oregon Employment Department, and total amount of federal PPP, EIDL and EIDLA awards to complete the application.
· Supporting documentation will not need to be required to submit an application tomorrow but will be necessary to be provided by December 1 so our team can finalize awards shortly thereafter.
For more updates and information, please click here and share this information to businesses who qualify. Please let me know if you have any questions.
Allison Field, OCED
Regional Development Officer
Business Oregon | www.oregon4biz.com
