Mercy Corp February 18, 2022 Presentation of Funding Opportunities.

1. Welcome

2. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Funding Friday
February 18, 2022
Greg Charles
Curriculum Specialist
Oregon Women’s Business Center

3. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
What is Funding Friday?
● Webinar Series
● Held on Fridays from
1:30 – 2:00 pm PST
● Updates on Small Business
funding in Oregon/ SW
Washington

4. • New funding opportunities
• SBA funding updates
• Oregon and SW Washington - Small Business
Resources
• Mercy Corps NW loans and grants
• Key takeaways
• Questions
Agenda

5. Greg Charles is the instructor for the Mercy Corps Northwest
LIFE Program that provides Prison and Re-entry Services,
and a curriculum developer for the Women’s Business Center.
He has over 25 years of experience working with all types of
businesses ranging from small start-ups to Fortune 500
companies. Immediately after college, he began managing
corporate financial operations and reporting, where he learned the
challenges of managing a business first-hand.
Since 2002, Greg has been active in college and continuing
professional education. He has taught at several colleges and
universities in the Portland, Oregon metropolitan area in the fields
of accounting, finance, and economics. He currently holds adjunct
faculty positions at Portland Community College and Oregon
Coast Community College.
Greg earned his M.A. in Development Banking from The American
University and his B.A. in International Relations from The
University of Pennsylvania.
Presenter
gcharles@mercycorps.org

6. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
New Funding Opportunities

7. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
City of Gresham Small Business Grants
The City of Gresham is providing $500,000 in small business grants
with American Rescue Plan Act (ARPA) funding approved by City
Council.
Grants are open to businesses that:
• Have 25 or fewer employees
• Are based within Gresham city limits
• Have an active Gresham business license
• Have been adversely affected by COVID-19
Application Deadline: Monday, February 28th at 5 pm
Details at https://greshamoregon.gov/Small-Business-Grants/

8. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Oregon Emergency Rental Assistance Program
The Oregon Emergency Rental Assistance Program (OERAP)
helps eligible low-income households with their past due rent
and utilities.
Renters who are eligible for the program may request rent and/or
utility assistance dating back to March 13, 2020.
If approved, payments will be made directly to the landlord,
property owner or utility company on the tenant’s behalf.
Tenants now have a 60-day safe harbor from eviction for
nonpayment while applying for rent assistance.
https://www.oregonrentalassistance.org/

9. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Start up Grants Available to Black Women or
Nonbinary Entrepreneurs
SoGal, a global platform for diverse entrepreneurs, is providing $5,000
and $10,000 cash grants to help Black women and nonbinary
entrepreneurs scale-up small businesses. Entrepreneurs interested in
applying should already have a registered business.
Applications are being accepted on a rolling basis.
More information and online application:
https://www.iamsogal.com/black-founder-startup-grant

10. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Employee Retention Credit
The Employee Retention Credit has been a popular option for
businesses suffering from the economic effects of the pandemic,
but it’s also generated a significant number of questions from
employers.
The IRS has provided additional guidance for employers here.

11. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
SBA - COVID-19 Funding

12. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
SBA PPP Loan Direct Forgiveness Portal
The Small Business Administration has created an online portal
to streamline the loan forgiveness process for PPP borrowers.
PPP borrowers can submit their loan forgiveness request directly
through this portal instead of to their lender.
Link to the portal
Portal User Guide
List of PPP lenders who are participating in the direct forgiveness
portal

13. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
COVID-19 Funding Options Portal
The SBA has launched a free, curated list of thousands of funding
sources at the national, state, regional, and local levels designed to
support small businesses in accessing capital to recover from
COVID-19.
Link to the portal at https://www.sba.gov/covid-19-funding-
sources/index.html
Note: This is not an endorsement by the SBA that individuals or small
businesses should pursue applications with any of these organizations.

14. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
SBA Loan Programs
The Small Business Administration provides the following loans:
• 7(a) SBA’s most common loan program
• 504 Long-term, fixed rate financing for fixed assets
• Microloans Smaller-sized loans up to $50,000
https://www.sba.gov/funding-programs/loans

15. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Links for -Local Resources and
Organizations

16. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Resources for Washington State Businesses
Start-up Washington
http://startup.choosewashingtonstate.com/links/crisis/covid-19-
resources/
Washington State Department of Commerce
Funding Options for Small & Growing Businesses
https://www.commerce.wa.gov/growing-the-economy/business-loans/

17. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Resources for Washington State Businesses
Small Business Guide
https://www.business.wa.gov/site/alias__business/881/small-business-
guide--grow.aspx
COVID-19 Business Resources for Washington State
https://www.business.wa.gov/site/alias__business/1561/covid-
19.aspx#:~:text=Governor%20Inslee%20is%20offering%20a,the%20S
tate%20Department%20of%20Commerce.

18. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Resources for Minority, Women and Veteran Owned
Businesses
Business Xpress
https://www.oregon.gov/business/Pages/index.aspx
Small Business Grants for Women in Oregon
Amber Grants
https://ambergrantsforwomen.com/business-grants-women-oregon/
Business Impact NW (Oregon & Washington)
Loans only (no grants)
https://businessimpactnw.org/loan/about-our-
loans/?campaignid=9732863471&adgroupid=102533047147&adid=428318094863&gcl
id=EAIaIQobChMImtDF19TL6wIVbRitBh1qog4rEAAYASAAEgKWSfD_BwE

19. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Business Oregon – Small Business Navigator
A resource for small business loans and grants in Oregon
https://www.oregon.gov/biz/Pages/default.aspx

20. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Local Resources
Prosper Portland – The economic and urban development agency for the city
of Portland offers a variety of flexible loans for growth capital and fixed asset
purchases https://prosperportland.us/portfolio-items/prosper-portland-business-
finance-programs/
Inclusive Business Resources Network – Provides access to a variety of
multicultural and neighborhood affinity groups that periodically offer grants
and loans https://prosperportland.us/portfolio-items/inclusive-business-
resource-network/
Community Action Partnership of Oregon - Provides numerous funding
opportunities and access to resources for individuals and non-profit
organizations https://caporegon.org/resources/grant-opportunities/

21. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Local Resources
Partnerships in Diversity - Partners in Diversity (PiD) operates as an
affiliate of the Portland Business Alliance Charitable Institute, a 501 (c)(3)
nonprofit organization, and seeks to address employers’ critical needs for
achieving and empowering a workforce that reflects the rapidly changing
demographics of the Pacific Northwest.
https://www.partnersindiversity.org/community/
MESO - Micro Enterprise Services of Oregon (MESO) formed as a
grassroots initiative in 2005 under the umbrella of The Black United Fund of
Oregon to assist small businesses that were experiencing challenges in the
wake of gentrification, new development, and increased rents in
North/Northeast Portland.
https://mesopdx.org/grants/

22. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Resources for Agriculture in Oregon
Oregon Farm Bureau
Resources for Beginning Farmers & Ranchers
https://oregonfb.org/beginningfarmers/
Oregon Farm Link
Grant Resources
https://oregonfarmlink.org/search-resources/grant-resources/
Oregon Grant Watch – Agriculture
https://oregon.grantwatch.com/cat/51/farming-agriculture-grants.html

23. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Resources for Agriculture in Oregon & Washington
Registration Open - Washington State Farmers Association
Conference (WA & OR)
This virtual conference will take place February 23-25 with a special
Farm Vendor only day on the 25th. Remember, this conference is
something that the Vancouver Farmers Market Foundation can
reimburse you for! Register Here

24. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Emergency Funds for Disabled Veterans
● PENFED Foundation - Disabled American Veterans – Emergency
Financial Assistance https://penfedfoundation.org/apply-for-
assistance/emergency-financial-assistance-dav/
● USA CARES Veteran & Family Support System
https://usacares.org/programs
● Gofundme Financial Help for Veterans
https://www.gofundme.com/c/blog/financial-help-for-veterans
● Veterans Families United Financial Assistance
https://veteransfamiliesunited.org/financial-assistance/

25. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Emergency Funds for Disabled Veterans (cont.)
● Veterans of Foreign Wars – Financial Grants
https://www.vfw.org/assistance/financial-grants
● Operation We Are Here – Financial Assistance
https://www.operationwearehere.com/FinancialAssistance.html#anc
hor_390
● Mission 22 United We Heal – COVID-19 Resources for Veterans
https://mission22.com/blog/2020/3/19/covid-19-resources

26. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Financial Relief Resources for Artists During COVID-19
Resources for Emergency Grants
https://www.artworkarchive.com/blog/financial-relief-resources-for-
artists-during-covid-19
Regional Arts & Culture Council – Relief Funds & Resources
https://artsimpactfund.racc.org/
https://artsimpactfund.racc.org/covid-19-relief-resource-listings/

27. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Mercy Corps NW Loans & Grants

28. BUSINESS FINANCING
Small Business
Grants (IDAs)
Small Business
Loans & Credit
Counseling

29. An Individual Development Account
(IDA) is a matched-savings grant:
• We offer a 1:5 matching ratio for grants at the
end of a savings period of 6 months–2 years
• You save $1,200 and receive $6,000 in
matching funds, for a total of $7,200
Eligibility Requirements:
• Resident of Oregon
• Currently own (or plan to open) a small
business in Oregon
• Household income < 80% of median income
• Compelling, demonstrable need for funding;
business expertise; clear vision
INDIVIDUAL DEVELOPMENT ACCOUNTS
WHAT YOU NEED TO KNOW FINANCIAL ELIGIBILITY
Net worth: <$20,000, excluding your
primary home and vehicle and first $60,000
of retirement savings
Median household income:
Size of Household Income
1 $54,150
2 $61,900
3 $69,650
4 $77,350
*2021 figures for Multnomah County. These figures represent 80% of the
state’s median income and are adjusted annually

30. IDA PROCESS
The IDA grant application period opens 3-4 times a
year. Here’s how to participate:
Prepare:
• Check to make sure you’re eligible
• Fill out our IDA Expression of Interest form to
stay notified of upcoming application cycles
• Complete your educational prerequisite (Business
Foundations I, or equivalent)
Apply:
• When the application window opens, fill out and
submit your application, along with the following
documentation:
• Previous 2 months’ income (pay stubs, bank
statements, profit and loss statement) or most
recent benefits letter (SNAP, TANF, etc.)
• Copy of Oregon ID
NOTE: There is a one-time, non-refundable $50 processing fee the first time
you apply

31. LOANS
Eligibility
Before applying, make sure you meet these
requirements:
• RESIDENT: Oregon or Washington
• CREDIT HISTORY: Current on existing payments.
No active bankruptcy, judgments or unpaid
collections.
Apply:
Once you’ve figured out which loan option is best for
you, submit your application.
• Incubator Loans: $1,000-$2,500
• Start Up Business: <$20,000
• Existing Business: <$50,000
Repayment: 6 months-5 years
Interest Rate: Starting at 7.75%
Loan Fee: 2%
What You Need To Know

32. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Mercy Corps NW - Microloan Program

33. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Mercy Corps NW - Microloan Program
Complete a online inquiry here: https://nw.mercycorps.org/business/loan-prequal
FAQ’s: https://nw.mercycorps.org/loans/faq

34. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Helpful SBA Tool - Access to Capital
Here is the link: https://ascent.sba.gov/access-to-capital

35. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Key Takeaways
● Create a Funding Opportunities spreadsheet to help
track of important information, deadlines and
progress made in applying for grants and loans
● Make sure to confirm your eligibility prior to
completing the application
● Follow newsletters for new funding updates
● Attend our next Funding Friday Webinar on March
4, 2022. Register here.
● Attend our Mercy Corps NW Small Business
Orientation on February 23rd. Register here.

36. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Sign-up for events at Mercy Corps
NW - Oregon’s Women’s Business
Center
https://nw.mercycorps.org/events

37. Funded in part through a Cooperative
Agreement with the U.S. Small Business
Administration
Questions?