Grant Funding Available to Benton County Small Businesses

Economic Development Office Announces $260,000 in Grant Funding Available to Benton County Small Businesses

Date: 8/29/2023

The Corvallis-Benton Economic Development Office, in partnership with Central Willamette Credit Union, will distribute $260,000 to small businesses in Benton County that have been adversely impacted by the COVID-19 pandemic. The funding comes through the American Rescue Plan Act of 2021. This is a one-time grant program.

Grants are for $10,000.

APPLY HERE https:// (Central Willamette CU) 

Applications must be received by September 13 at 5:00 PM.

Business Eligibility Criteria:

  • Business must be located in Benton County and employ a majority of their employees in Benton County.
  • Business must have no more than 500 employees and must be a small business concern as defined in section 3 of the Small Business Act; which includes the requirements that eligible businesses must:
    • Be a for-profit business of any legal structure;
    • Be independently owned and operated; and
    • Not be nationally dominant in its field.
  • Business must have been in existence prior to June 30, 2021 and continue to exist and operate through date grant funds would be disbursed. This criterion may be demonstrated by providing documentation to confirm business registration with the Oregon Secretary of State and provision of federal income tax documentation that covers prior to June 30, 2021 through the time of application; or other documentation upon mutual agreement of the City and Contractor.
  • Businesses must operate their business from a physical location in Benton County.
  • Business must have been either impacted or disproportionately impacted by the pandemic. The U.S. Treasury defines impacted small businesses as those that can demonstrate any of the following: closed during the pandemic, decreased revenues or gross receipts, increased cost, or reduced capacity to weather financial hardship. Small business that are considered disproportionately impacted include small businesses operating in a Qualified Census Tract; small businesses operated by Tribal governments or on Tribal lands; or small businesses operating in the U.S. territories.

Eligible Businesses do not include:

  • Marijuana businesses
  • Businesses that employ a majority (greater than 50%) of their employees outside of Benton County.
  • Non-profit entities including 501(c)(3) and 501(c)(6) organizations.

Use of Grant Funds:

  • Businesses must use grant funds to mitigate financial hardships such as supporting payroll and benefits, cost to retain employees, or mortgage, rent, utility, and other operating costs.
  • Small businesses disproportionately impacted may receive grants for the additional purposes of rehabilitation of commercial properties, storefront and façade improvements; start up or expansion costs; or support for microbusinesses.

Funding Allocation and Application Process:

The program will use at least one-third of funds for eligible businesses located outside of the Corvallis and Albany Urban Growth Boundaries (UGB). This would allocate grants for at least nine (9) businesses located outside of the Corvallis and Albany UGBs. 

If the number of applications exceeds available funds, first preference will be given to businesses that did not receive government loans or grants during the pandemic. These include funds from the Payroll Protection Program or the Economic Injury Disaster Loan program.

If the number of applications exceeds available funds, applications will be selected on a lottery basis after the application window has closed.

If you have questions, please contact: Economic Development Office at 541-766-6416 or jerry.sorte@corvallisoregon.gov

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