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NGExpert financial copywriter
Page written by Ashlyn Brooks. Last reviewed on November 5, 2024. Next review due October 1, 2025.
Business grants can be a valuable source of financial support, but they often come with high competition and require careful preparation, including a solid understanding of the application process. In this guide, we’ll explore the top grant programs in Oregon, how to apply for them, and the specific opportunities available to help grow your small business.
With Swoop as your funding partner, you can also access a range of other financial solutions to complement your grant-seeking efforts, giving your business the support it needs to succeed.
Oregon offers a variety of grant programs aimed at supporting small businesses across industries. These grants provide critical funding to help cover operational costs, expansion, innovation, and recovery from financial hardship. Let’s explore some of these opportunities as well as what they can help Oregon business owners.
Business Oregon, the state’s economic development agency, plays a key role in facilitating small business growth through over 80 programs including grants and tax incentives.
Operated by the USDA, The Rural Business Development Grants of Oregon are designed to help small businesses in rural areas of Oregon. These grants provide financial support for business development projects including funding new equipment, expansion, and other operational needs to strengthen rural economies.
Oregon’s Small Business Innovation Research (SBIR) Support Program is available for businesses that are focused on research, development, and innovation. This program assists in securing federal research grants by providing matching funds, support in grant writing, and additional financial resources.
The CDBG-CV Statewide Emergency Small Business & Microenterprise Grant Program (SBMA) is designed to support Oregon’s small businesses and microenterprises that have been impacted by the COVID-19 pandemic. Administered by Business Oregon in partnership with CCD Business Development Corporation, a nonprofit economic development organization, this program has allocated $3 million to help small businesses stay solvent and retain or create jobs for low- and moderate-income workers.
Eligible businesses can apply for these grants to cover essential operating costs, ensuring they remain viable during challenging economic conditions. The program primarily focuses on businesses that might struggle to access traditional financing, offering critical financial support to maintain operations and protect jobs in local communities. This grant provides a vital lifeline to small enterprises facing financial difficulty, helping them to weather economic uncertainties while continuing to serve their communities.
The Technical Assistance Program (TAP) is designed to help Oregon school districts plan for capital improvements and facility expansion. By providing essential resources, TAP enables districts to better inform their communities about deferred maintenance needs, future enrollment projections, and explore potential funding sources for school facilities.
TAP offers four types of grants to offset or cover the costs of important assessments, including; facilities condition assessments, long-range facility planning, seismic assessments and environmental hazard assessments.
The Oregon Business Resource Center (BRC) offers grants aimed at supporting small businesses, nonprofits, and startups in the Wilsonville, Keizer, Sherwood, and Newberg areas. These grants are designed to provide technical assistance to help businesses overcome challenges, improve operational efficiency, and promote sustainable growth.
Eligible applicants must have 50 or fewer full-time equivalent (FTE) employees and operate within specific zip codes: 97303, 97070, 97140, 97132, 97137, and 97115. Additionally, applicants must demonstrate a COVID-related impact and be registered with the Oregon Secretary of State (except for sole proprietors without a DBA/ABN).
Startups that are not yet operational but are in the planning phase and expect to open within six months are also eligible to apply. However, certain types of businesses, such as chain franchises, pawn shops, and adult entertainment establishments, are excluded from eligibility.
Prosper Portland offers local repair grants to small businesses in need of financial assistance for facility repairs, renovations, or improvements. These grants are designed to help businesses maintain and improve their operational spaces including interior, exterior, and security repairs/improvements.
Like other states, Oregon is dedicated to supporting small business growth through a diverse range of funding options. Whether you’re a startup just getting off the ground or an established business looking to expand, there are numerous opportunities available to help you secure the financial resources you need.
Business Oregon is extremely active in offering a range of funding tools to support small business growth, including grants, loans, loan guarantees, and tax incentives. Key programs include matching grants for export activities, community grants for infrastructure projects, and direct loans through the Oregon Business Development Fund (OBDF) and Entrepreneurial Development Loan Fund (EDLF). Businesses can also benefit from tax incentives like Enterprise Zones, which provide property tax abatements. For guidance on choosing the right funding option, Business Oregon’s Regional Development Officers are available to assist.
As we mentioned above, the Oregon Small Business Development Center (SBDC) network provides free business advice and assistance with access to capital in addition to grants. SBDC advisors act as mentors to help entrepreneurs navigate the application process for state and federal funding programs.
For tech startups and businesses focused on innovation, Oregon offers support through technology transfer programs. For example, both the SBDC and OHSU offer support for these grants to help businesses commercialize new technologies, secure patents, and bring innovative products to market.
Now while we understand the attractiveness of grants, there is always more to the story as a business owner. In addition to grants, Oregon businesses can take advantage of resources to help manage their day-to-day operations more efficiently.
Managing risk is a crucial part of running a small business, as unexpected challenges can arise at any time. In Oregon, SMEs can access grant programs that provide funding to help cover business risks, secure necessary business insurance, and protect their operations from potential disruptions.
Attracting and retaining skilled workers is essential for business success. Oregon offers grants and resources aimed at workforce development, covering employee training, recruitment efforts, and other HR-related needs. These programs help SMEs build strong teams and enhance employee capabilities.
Upgrading equipment and improving infrastructure can be expensive but necessary to stay competitive. Certain grant programs in Oregon offer financial assistance to SMEs for these upgrades, ensuring businesses can meet operational demands and continue growing.
A well-executed marketing strategy is vital for expanding a business. Oregon provides grants to support SMEs in developing marketing plans, building their brand, and driving growth through targeted outreach and promotional efforts.
There are several additional resources available to Oregon-based SMEs that provide invaluable support for business owners seeking to grow or stabilize their operations.
Business Oregon and other local agencies offer grants that cover training and educational programs. These resources help business owners and their employees build new skills to improve operational efficiency.
Grants are available to support advisory and mentorship services for small businesses. These programs connect business owners with experienced mentors who can provide insights and guidance on how to grow their operations.
Not all businesses are created equal, and that’s where “sector-specific” opportunities come into play. These programs are designed to address the unique challenges and needs of different industries, ensuring that businesses in specialized sectors receive tailored support. Whether you’re in agriculture, technology, manufacturing, or healthcare, Oregon offers grants that are specific to your industry, helping you access the funding needed to grow and thrive in your field.
For example, agricultural businesses can benefit from grants aimed at rural development, sustainable farming practices, or equipment upgrades. Similarly, tech startups may find support through innovation and research grants that fund new product development or commercialization efforts. By targeting specific industries, Oregon ensures that these businesses can access resources designed to help them tackle sector-related challenges and seize growth opportunities.
Oregon offers dedicated grants for women and minority-owned businesses. These programs focus on leveling the playing field by providing access to capital, training, and networking opportunities.
For businesses in the agricultural sector, Oregon provides specific grants aimed at improving rural economies and supporting sustainable farming practices. These programs often include funds for equipment, technology, and infrastructure upgrades.
Successfully applying for a grant requires careful preparation and attention to detail. Oregon offers many grant opportunities, but competition can be fierce, so it’s important to approach the process strategically. Below are essential steps that will help increase your chances of securing funding for your business.
A well-crafted business plan is a critical component of any grant application. Your plan should clearly define your business goals, financial projections, and explain how the grant funds will be utilized to support your business’s growth or development.
It’s important to be detailed and specific, as grant providers want to see how their investment will directly impact your business and contribute to the broader economy. Tailoring your plan to align with the grant’s objectives can give you a competitive edge.
Grant applications often require various forms of documentation, including financial statements, tax records, business licenses, and any proof of your business’s operational status. It’s essential to have these documents organized and ready before you begin the application process to avoid delays. Make sure your financials are up to date and that your business is in good standing with state authorities, as missing or outdated documentation can result in disqualification from the grant.
When submitting your application, it’s crucial to ensure that all information is complete, accurate, and aligned with the grant’s criteria. Double-check the application requirements to avoid common mistakes such as missing fields or incomplete sections. Most grant programs have strict deadlines, so it’s important to plan ahead and submit your application well before the due date to account for any last-minute issues. This gives you enough time to resolve any problems that might arise and increases your chances of being considered.
Receiving a grant is only the beginning— most grants come with specific conditions that must be met during and after the funding period. You may be required to submit regular progress reports, provide updates on how the funds are being used, or meet certain performance benchmarks. It’s important to follow these guidelines closely to maintain your eligibility for future funding opportunities and demonstrate your business’s accountability to the grant provider.
Grant recipients must ensure their business complies with Oregon state regulations, including proper tax filings, employment laws, and general business practices. Failure to stay compliant can jeopardize your grant funding or result in penalties. Before applying, double-check that your business meets all state requirements, as compliance is often a key factor in maintaining eligibility throughout the funding period.
While grant funds are a valuable resource, they may be subject to federal or state taxes depending on how they are used. It’s important to consult with a tax professional to understand your specific tax obligations related to the grant funds. Knowing whether the funds are considered taxable income or if specific deductions apply will help you plan accordingly and avoid surprises come tax season.
While grants are a valuable source of funding, they can be highly competitive and may not always align with your business’s specific needs or timelines. Fortunately, there are plenty of alternative financing options available that can offer more flexibility and quicker access to capital. Understanding these options will help you make informed decisions about the best way to support your business’s growth and operational needs.
A term loan provides a set amount of funds that is repaid over a fixed period, usually with a set interest rate. This option is ideal for businesses that need immediate cash for significant investments like expansion, new hires, or large purchases. The fixed repayment schedule makes it easier to plan your finances, and if you have a solid credit history, you could secure more favorable terms.
A business line of credit offers a more flexible financing option compared to a term loan. Instead of receiving a lump sum, you get access to a pool of funds that you can draw from as needed. You only pay interest on the amount you use, making it an excellent choice for businesses that need to manage cash flow fluctuations or cover unexpected expenses. Whether it’s covering payroll or dealing with seasonal sales dips, a line of credit can help keep your business running smoothly.
Invoice financing allows you to access cash based on your outstanding invoices. If your business often faces delays in customer payments, invoice financing can help you get immediate funds without waiting for invoices to be paid. This option is particularly useful for businesses that operate on a net-30 or net-60 payment schedule but need cash sooner to cover day-to-day expenses.
Equipment financing provides a way for businesses that rely heavily on equipment to purchase or upgrade machinery without paying upfront. This type of financing allows you to spread the cost of the equipment over a set period, ensuring that you can keep your business running efficiently while managing cash flow. Whether you need new manufacturing equipment or updated technology, equipment financing helps you stay competitive without straining your budget.
A merchant cash advance can give you some quick capital in exchange for a percentage of your future sales. Businesses with fluctuating revenues, such as retail or hospitality, often use this option as repayments are tied directly to sales performance. The more you earn, the quicker you repay. However, keep in mind that the cost of borrowing can be higher than other options, so this might be best for short-term needs or businesses that expect steady growth in sales.
Revenue-based financing is another flexible option where repayments are based on a percentage of your monthly revenue, making it a good fit for businesses with inconsistent income. The repayments adjust according to your revenue, so during slower months, you’ll pay less, and during busy months, you’ll pay more. This makes it a flexible solution for startups or seasonal businesses that experience variable cash flow.
Small Business Administration (SBA) loans are government-backed financing options created to give small businesses access to affordable capital with favorable terms, like lower interest rates and extended repayment periods. These loans are especially helpful for businesses that may not qualify for traditional bank loans but still need reliable, cost-effective funding. While the application process can be more involved, the benefits—such as low interest rates—make SBA loans one of the top choices for businesses looking for stable, long-term financing.
At Swoop, we help small businesses in Oregon and nationwide discover funding opportunities, including grants, loans, and other financial resources. Explore how Swoop can support your business. Check available grants today and see how we can help you secure the funding you need to grow.
Oregon offers general business development funds to industry-specific grants for sectors such as agriculture, technology, and manufacturing.
Small businesses can find help from places like Business Oregon and the Oregon SBDC to navigate the grant application process. They offer guidance on assembling documentation, writing proposals, and meeting application requirements.
Startups can access state funding programs by applying for grants, loans, or incentives specifically designed for new businesses. Programs like the SBIR support program offer funding for research and development-focused startups.
Yes, Oregon offers grants specifically for women entrepreneurs through various state-funded programs and private initiatives.
Organizations like Business Oregon, Oregon SBDC, and Prosper Portland offer free advising and assistance for small businesses seeking funding.
Written by
Ashlyn is a personal finance writer with experience in business and consumer taxes, retirement, and financial services to name a few. She has been published in USA Today, Kiplinger and Investopedia.
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