Small Business Repair and Restore Grant to conclude at year-end
November 27, 2024
NEWS RELEASE
Contact: Yume Delegato, Prosper Portland
The deadline for applications is Tuesday, December 31.
The Small Business Repair and Restore Grant from Prosper Portland will conclude at the end of 2024 as all available funds will be delivered to businesses in need throughout the city.
The Repair/Restore grant program began in 2020 with the goal of providing financial reimbursement to small businesses that sustained physical damage due to break-ins and vandalism or economic hardship due to increased security, insurance, or other related operating costs. The program, which was viewed as a short-term option to support businesses as the city emerged from the impacts of the pandemic, was originally funded with American Rescue Plan and limited tax increment finance dollars. Due to a continued need for program funds, Portland City Council allocated General Fund resources in early 2024 to extend the program through the end of this year. Since its launch, the program has provided more than 1100 grants totaling close to $4 million to business owners throughout the city.
“While it was never envisioned to serve as a long-term program, it is still difficult to end a program that has served such an important role,” said Mayor Ted Wheeler. “I’m extremely proud of the work the team at Prosper Portland has done to create and implement a brand new, citywide program during a global pandemic as well as the flexibility and commitment the team consistently demonstrated in support of Portland’s small business community.”
Local businesses in need of technical assistance or interested in other support programs can contact:
- PDX Small Business Hub. Navigators can help guide business owners to current resources, including possible grants, and can refer them to the appropriate providers.
- The Inclusive Business Resources Network offers advice, resources, and connections to help with business needs.
“We’re honored to have been able to serve so many small businesses through this grant,” said Prosper Portland interim executive director Shea Flaherty Betin. “While this grant is concluding, we continue to offer a range of resources for small business owners in collaboration with our community partners. That current suite of resources will be further augmented by the upcoming launch of the Office of Small Business in early 2025.”
