At its meeting Monday, April 20, the Keizer City Council voted to dedicate $45,000 in economic development money it was receiving to forgivable loans to support small businesses during the COVID-19 pandemic.
During the meeting, there was discussion of only nine $5,000 forgivable loans, but city leaders have since decided to break up the money further and offer 18 $2,500 grants.
The program will offer one-time $2,500 forgivable loans designed to provide assistance to help small businesses with payroll expenses.
The eligible businesses must show that they have closed, or had a substantial change-in-service, as a direct result of COVID-19. Eligible businesses must meet all of the following requirements, the business:
1. Has been subject to change-in-service or closure order caused by COVID-19.
2. Been in operation since April 30, 2019 or earlier
3. Have fewer than 15 employees.
4. Have payroll expenses for March and April 2020 of $2,500 or more.
5. Have not received a Marion County grant.
6. Business is not a national chain or franchise.
Eligible businesses can fill out the application questionnaire online at: https://www.keizer.org/small-business-assistance.
Because of the limited funding available, qualifying applications will be chosen at random. Applications are due to the City of Keizer no later than May 7 with distribution of funds no later than May 21.
The money to fund the loans is being received from Marion County through its Community Prosperity program, which is funded by Oregon Lottery revenues.
Questions can be directed to the Community Development Department at 503-856-3441.