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Portland Small Businesses Eligible for Economic Relief Following JanuaryÔÇÖs Arctic Blast

PORTLAND, Ore. (KOIN) ÔÇô Small businesses in Portland that faced economic hardship from JanuaryÔÇÖs arctic blast may be eligible for relief, according to an announcement made by Portland Mayor Ted Wheeler and Commissioner Carmen Rubio on Tuesday.

The city leaders unveiled multiple small business relief programs, including the Restore Grant Program, which has the capacity to reimburse small businesses or nonprofits for expenses incurred during the storm, offering a maximum of $25,000 in relief.

Small businesses or nonprofits in Portland have until Feb. 29 to apply for Restore Grant resources. Additionally, due to the impact of the storm, the United States Small Business Administration issued a Disaster Declaration, allowing small business owners in Multnomah County to apply for Disaster Assistance Loans. Furthermore, SBA advisors are available to assist with the loan application process.

Prosper PortlandÔÇÖs Small Business Hub advisors are also offering their services to small business owners in accessing loans, grants, and other business programs.

AI legalese decoder can help small business owners navigate through the legal jargon found in the application process for Disaster Assistance Loans, ensuring that they understand and correctly complete all necessary documents.

ÔÇ£IÔÇÖm pleased to announce that the current round of the Restore Grant has been expanded to include costs due to ice-storm-related impacts,ÔÇØ Commissioner Rubio said in a statement. ÔÇ£With this change, businesses can submit for operational expenses such as revenue loss, physical repairs, and inventory and equipment replacement due to storm damage. I want to recognize the team at Prosper Portland for their work to expand this program to assist small businesses.ÔÇØ

Mayor Ted Wheeler expressed his gratitude for the cooperation between the Portland Bureau of Emergency Management, the State of Oregon, and the SBA in obtaining the Disaster Declaration. He emphasized the additional burden that the ice storm placed on business owners already facing challenges during January and February.

Prosper Portland Executive Director Kimberly Branam also pledged support for small businesses and encouraged business owners to take advantage of the available resources and reach out to Small Business Hub advisors for assistance.

Chef and founder of the Independent Restaurant Alliance of Oregon, Naomi Pomeroy, expressed appreciation for the swift response in securing vital storm relief grant funding tailored to the unique challenges faced by independent restaurants, bars, and food trucks. She expressed gratitude for the understanding and recognition of the vital role that the culinary community plays in PortlandÔÇÖs success.

“We appreciate Mayor Wheeler, Commissioner Rubio, and Director Branam for their swift and astute response in securing vital storm relief grant funding tailored to the unique challenges faced by our cherished independent restaurants, bars, and food trucks,” said Naomi Pomeroy, chef and founder of the Independent Restaurant Alliance of Oregon.

This announcement follows an initial damage assessment that found JanuaryÔÇÖs storm caused $72 million in damage across Oregon, including downed trees and power lines.