A view of Liberty Street in downtown Salem on Thursday, April 2. (Amanda Loman/Salem Reporter)
Hoping to lend a hand to struggling businesses that have been unable to get federal funding to help pay for payroll or rent, Salem has allocated money to help around 100 local businesses.
Salem officials expect the funding to be released in two phases, with the first round of funding expected to come available in early June.
The first phase will distribute $188,000 to businesses with 6 to 40 employees that have lost revenue as a result of closures or need assistance to become a supplier of protective equipment. Priority will be given to businesses that have not accessed other COVID financial assistance programs and need help preparing to reopen.
The money is coming from a combination of sources including the city’s general fund, enterprise zone fines and a $15,000 grant from Marion County.
It can be used for payroll, rent, utilities and to protect workers and customers from COVID-19 exposure.
Phase two is meant to help businesses with five or fewer employees through $200,000 in federal Community Development Block Grant funding. Kristin Retherford, urban development director, said that money is likely to be available in July.
The city is partnering with the nonprofit Willamette Workforce Partnership to distribute the funds.
City officials have estimated that 2,300 Salem businesses have been impacted by Gov. Kate Brown’s executive order on March 23, which forced many businesses to shutter or adapt.
In April, Marion County commissioners made $1 million available for a small business grant program and demand was so high the program ran out of money almost immediately after the applications went live.
Have a tip or story idea? Contact reporter Saphara Harrell at 503-549-6250, [email protected] or @daisysaphara.
