February 13, 2024
Contact: Shawn Uhlman, Prosper Portland, 503-823-7994
Resources for January Winter Storm Damage
Today Portland City Commissioner Carmen Rubio and Mayor Ted Wheeler unveiled a suite of critical resources to provide support for small businesses in response to economic hardship caused by the January winter storm.
The Restore Grant Program can provide reimbursement resources to small businesses or nonprofits for up to $25,000 in eligible expenses that businesses incurred during the January 2024 storm.
Cycle 5 of the Small Business Stabilization Restore Grant will support Portland small businesses and non-profits experiencing hardships resulting from the January 2024 winter storm. This will allow businesses to submit for operational expenses such as revenue loss, physical repairs, and inventory and equipment replacement due to storm damage. Businesses that previously received Restore Grant funds for vandalism damage can submit a separate claim for winter storm damage.
The deadline to apply for Restore Grant resources is Thursday, February 29. A limited amount of funds is available and not all applicants will receive a Restore Grant. The grant review team will start notifying recipients of the Restore Grant no later than 14 days after the application window closes.
The US Small Business Administration (SBA) has issued a Disaster Declaration due to the impact of the Winter Storm. This declaration will allow small business owners in Multnomah County to apply for Disaster Assistance Loans.
The SBA has set up a Virtual Business Recovery Center to assist with loan applications. Advisors are available Monday – Friday from 8 am to 4:30 pm. For assistance, call (916) 735-1531 or email FOCWAssistance@sba.gov .
Advisors from Prosper Portland’s Small Business Hub are also available to help business owners access loans, grants, and other business support programs like technical assistance and workshops.
“Helping small businesses recover and thrive is a top priority,” said Prosper Portland Executive Director Kimberly Branam. “I encourage business owners to review these new resources and reach out to our Small Business Hub advisors for assistance. Whether it’s navigation, application assistance, or simply having a real person listen and help, across multiple languages, we are here to help our city recover.”
