Overview
The Small Business Stabilization Restore Grant Program will support Portland small businesses experiencing hardships resulting from the COVID-19 pandemic. Prosper Portland will administer American Rescue Plan Act funds as one-time direct grants to help stabilize small businesses by addressing operational expenses for businesses within the city.
The Restore Grant Program can provide up to $25,000 in reimbursements to eligible small businesses or nonprofits located along highly impacted districts and corridors for eligible expenses related to security, prevention, specific operational expenses, damages, and vandalism that occurred since January 2022.
Who does this program serve?
Eligible small businesses within Portland city limits that have been economically impacted by the COVID-19 pandemic. Businesses must have been in business prior to March 2020.
Timeline
June 2023: Program Launch and Cycle One of Grants begin
August 2023: Cycle Two of Grants begins
October 2023: Cycle Three of Grants begins
December 2023: Cycle Four of Grants begins
February 2024: Cycle Five of Grants begins
How do I apply for this program?
Applications for the Restore Grant can be submitted during an open application cycle thru our website – www.prosperportland.us/restore. Applications open on the 1st of the month for August 2023, October 2023, December 2023, and February 2024, and will be open for ten days each.
How is this program funded?
The City of Portland has committed $2.3 million to this program. This money comes from the federal government’s 2021 American Rescue Plan local recovery funds. Portland will receive a total of $208 million from the American Rescue Plan and has the next few years to spend it. The City of Portland is spending money in three priority categories:
- Houselessness Response and Household Stabilization
- Small Business and Commercial District Stabilization
- Community Health and Safety
Read more about these investments in this article: American Rescue Plan: Investing in Portland
Who manages this program?
Prosper Portland, the city’s economic development agency, operates this program. Prosper Portland’s mission is to create economic growth and opportunity for Portland.
Results
We want to be transparent and accountable with how the City of Portland is spending American Rescue Plan money. Explore the different projects at our Rescue Plan Open Data website.
Learn more about American Rescue Plan projects : American Rescue Plan: Investing in Portland | Portland.gov