NEOEDD’s COVID-19-related Financial Assistance
NEOEDD is currently managing one grant and one Covid-response loan fund.
Small Business and Microenterprise Grant Program
The grant program seeks to aid small businesses to:
- Avoid job loss caused by Covid-19 impacts and retain jobs held by low moderate-income persons.
- Remain solvent through the crisis and be ready/able to rebuild.
- Fill specific cash flow gaps as businesses try to scale down, reduce expenses, modify services or products and take additional defensive measures to survive the crisis.
- Businesses with primary location in Baker, Union or Wallowa counties.
- Businesses impacted by COVID-19 who have been operating for at least 12 months and were generally stable/strong prior to the crisis.
- Low-moderate income self-employed individuals/business owners with five or fewer employees (Microenterprise)
- Small businesses that employ individuals who qualify as low-moderate income.
- Businesses with a plan for how they will remain in business for the next twelve months.
The initial application asks for:
- Business ownership, structure, employment (including self-employment) and income information
- How the business has been impacted and how grant funds will be used to remain in business and recover
After review of the initial application, businesses who appear to meet eligibility requirements will be asked to submit additional documents. NEOEDD staff members are prepared to help businesses meet the qualification requirements. Examples of information you may be asked to provide include:
- Copies of personal and business tax returns
- Household income information
- Copies of monthly sales/income and expenses or profit and loss statements for 2019, 2020 or 2021 to demonstrate that gaps or deficits have resulted from the COVID-19 emergency
- List of COVID 19-relief grants or loans already received, and how and when each was used
- Specific information on the proposed use of the Small Businesses and Microenterprise Grant
- Forms signed by employees who are low/moderate income
Microenterprises/Self-employed individuals who meet Low-moderate income limits may qualify for grants between $2,500 and $10,000.
Low-Moderate income limits vary per county. Following are the income limits for our region.
|Baker County||Union County||Wallowa County|
|Household of 1||$36,050||$36,050||$36,900|
|Household of 2||$41,200||$41,200||$42,150|
|Household of 3||$46,350||$46,350||$47,400|
|Household of 4||$51,500||$51,500||$52,650|
|Household of 5||$55,650||$55,650||$56,900|
|Household of 6||$59,750||$59,750||$61,000|
|Household of 7||$63,900||$63,900||$65,300|
|Household of 8||$68,000||$68,000||$69,500|
Employers of low-moderate income individuals may qualify for grants of $2,500 per qualifying employee, based on the annual wage paid to each qualifying employee. Following are the Low moderate annual wage limits for a qualifying employee in our region.
Baker County Union County Wallowa County
$36,050 $36,050 $36,900
This grant is not available to staff, board or family members of the Northeast Oregon Economic Development District, Baker County, Wallowa County or the City of La Grande. If you think you have a conflict of interest with any of the above, please notify email@example.com or 541-426-3598 x2.
Access the application for this grant here.
A webinar explaining the application process follows.
NEOEDD/NOBD Revolving Loan Funds
NEOEDD and its partner organization, Northeast Oregon Business Development, always have available “gap” loans for people who have found bank funding but it is insufficient for a project or purchase (click here for information). From now until June 2022, NEOEDD also offers loan of up to $250,000 to finance businesses that will help the economy recover from the pandemic. These loans can be used by businesses that have identified opportunities to grow, find new markets, or become more stable following pandemic impacts.
These loans have special, favorable terms:
- 0% interest through June 2022, interest rates will be below market until June 2026 and increase to market rates after that
- 3-Months of deferred payments option
- No other lender needed
- No loan fees
- $100 application fee
- No job creation requirement
- Can be used to refinance short-term debt (credit card)
- Collateral required