If you were one of the nearly 9,000 small businesses who applied for last week’s grant from Prosper Portland and were rejected, you are not alone. Only roughly 200 of those companies were awarded grants of $2,500 to $10,000—however, one thing to feel good about is that when Prosper Portland awarded these grants they did so with an eye on intersectionality, prioritizing the money for businesses owned by “Black, Indigenous, Asian Pacific Islander and all People of Color and women”—groups who have been historically marginalized and ignored.
More good news? Prosper Portland is now accepting applications for a NEW grant/loan program called the Portland Small Business Relief Fund. It’s designed to provide grants and zero-interest loans to local, vulnerable small businesses who are struggling due to the COVID-19 crisis, with an eye toward creating a bridge of funding that will allow these companies to retain employees and stay in business until federal funding arrives. From Prosper Portland:
Prosper Portland has $1.38 million of available funding to offer impacted community businesses through the grant program, and $1 million of available funding for the loan program.
NOTE: This is a new grant/loan package separate from the one many businesses applied for last week, and while there’s sure to be a lot of competition for this one as well, it’s certainly worth a shot, right? LEARN MORE AND APPLY FOR THIS RELIEF PACKAGE HERE.
