Business Recovery

Oregon's guidance for business operatons gets updated frequently. To find out more information related to the state's guidance for all business sectors, please visit our Workplace Guidance Page.

Westside Pitch Competition for startup businesses in Washington County

Westside Pitch 2022

The Westside Pitch competition is coming to Washington County this Spring! Emerging entrepreneurs will have the chance to showcase their early-stage businesses and pitch their venture concept to a panel of local investors.

In preparation for the event, participating businesses will receive personalized coaching by Laura Kubisiak the Venture Catalyst for Washington County. Industry talent, networks, and resources converge here to make Washington County a great place to start and grow a business. This event will offer an excellent opportunity to increase the visibility of these business ventures to both investors and the general public.

What: Westside Pitch is a startup competition for Washington County entrepreneurs seeking to showcase their early-stage businesses.

First place $5,000
Second place $2,500

The team is also seeking offerings of in-kind services provided by local businesses, such as accountants and attorneys.

Who: Early-stage business ventures that currently operate or plan to operate in Washington County, Oregon, as well as people living in Washington County, are eligible to compete. Selected businesses will have developed or be in the process of developing a unique, scalable product or service that solves a major industry problem. Apply here.

When: Thursday, March 10, 2022 from 4 p.m. to 7 p.m.

Where: Walters Cultural Arts Center - 527 E Main Street Hillsboro, Oregon

Key Dates: January 5, 2022 — Application process opens
February 4, 2022 — Application deadline by 5pm PT
February 21, 2022 — Finalist Announcement
March 10, 2022 — Westside Pitch Competition

Not ready to compete but wish to attend anyway and celebrate local entrepreneurs? Please join us for appetizers & beverages and help us cheer these innovative ventures! To buy a ticket or for more details visit https://oregon.tie.org/westside-pitch-2022/.

Got questions? Contact Laura Kubisiak at Laura@VentureCatalyst.biz

Sponsors for the Westside Pitch Competition:

Gold Sponsors: Washington County, City of Hillsboro, PGE
Silver Sponsors: City of Tigard, City of Sherwood, City of Beaverton
Supporting Sponsor: TiE Oregon

Enhancements to COVID Economic Injury Disaster Loan (EIDL) Program

On September 9, 2021 the U.S. Small Business Administration (SBA) announced an update to the federal disaster loan program for small businesses, non-profits, and agricultural businesses impacted by the pandemic.

Key changes being announced by the SBA include:

Increasing the COVID EIDL Cap. From $500,000 to $2 million. Loan funds can be used for any normal operating expenses and working capital, including payroll, purchasing equipment, and paying debt.
Implementation of a Deferred Payment Period. Repayment will not begin until two years after loan origination.
Establishment of a 30-Day Exclusivity Window. A 30-day exclusivity window of approving and disbursing funds for loans of $500,000 or less. Approval and disbursement of loans over $500,000 will begin after the 30-day period.
Expansion of Eligible Use of Funds. COVID EIDL funds will now be eligible to prepay commercial debt and make payments on federal business debt.
Simplification of affiliation requirements.

New applications are now being accepted until December 31, 2021. Visit www.sba.gov/eidl to learn about eligibility and application requirements.

RFI for Small Business Assistance

Washington County is issuing a request for information (RFI) from community-based organizations and community development financial institutions about ways to assist small businesses in their recovery from the economic damage that occurred during the pandemic. For information and guidance on the program go here.

OPERATIONAL COST GRANTS

Certain businesses with 100 or fewer employees can apply for potentially thousands of dollars in grants between now and June 6, 2020. Eligible businesses must:

offer the consumption of food and or drink on premise;
provide specified indoor physical exercise, recreational or family entertainment; OR
provide specified personal services; and that experienced financial hardship due to the COVID-19 pandemic in Oregon.

Businesses that received assistance grants through the state of Oregon Commercial Rent Relief Program for the same location are eligible to receive the grant, as long as the award amount through the Commercial Rent Relief Program was less than $100,000. Find more details and application guidance here.

RESTAURANT REVITALIZATION FUND

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding to help restaurants and other eligible businesses keep their doors open. This program administered by the U.S. Small Business Administration will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Recipients are not required to repay the funding as long as funds are used for eligible uses no later than March 11, 2023. Find application guidance here.

COMMERCIAL RENT RELIEF PROGRAM

On April 22, Business Oregon will open the second round of a grant program for building owners to cover outstanding lease payments from small business tenants that are behind on rent due to COVID-19. The grants can go up to $100,000 per each business tenant, but not more than $3 million for each landlord. Find application guidance here.

PAYCHECK PROTECTION PROGRAM

The federal government is prioritizing paycheck protection program (PPP) assistance for businesses with less than 20 employees from February 24 to March 10. Contact the U.S. Small Business Administration, Small Business Development Center, or any bank that is a PPP lender to start the process. You can reach out to our Business Recovery Centers or the Oregon Small Business Advocate for more information.