PORTLAND, Ore. — This Friday, Prosper Portland, the city's economic development agency, will open applications for the Small Business Stabilization Restore Grant. It comes after the success of the so-called Repair Grant, awarded to more than 600 businesses for graffiti and vandalism repairs.
One of those recipients is Rhythm Traders, a drum store that has been open for more than 30 years in Portland, and has operated in Northeast Portland since 2007. Amid the many positives over the last few years, owner Brad Boynton said they've dealt with some negatives.
"Businesses on [Martin Luther King Jr. Boulevard] get hammered with vandalism and graffiti all the time. So for us, it's an almost weekly affair," he explained. "Pretty quickly your building can become derelict and so you really have to stay on top of it."
Earlier this year, he applied for the Repair Grant, aimed at cleaning up storefronts. He said the nearly $10,000 grant has gone a long way to fund repairs and replacements, like vinyl window coverings.
"We discovered that we could actually make it look a lot better, and make it less enticing for break-ins at the same time just buy covering up the windows," he said.
Now, the city's opening up a second companion grant program this week that goes a bit further than the first grant, as explained by Ellen Bolus-Edmonds.
"The Restore Grant is opening for the first time on Friday. This is in response to community sessions, and what we have learned from the Repair Grant is that there are a lot of expenses that are essential to the business owners, but are not covered by the repair grant," she said.
The Restore Grant Program can provide up to $25,000 to cover things like, interior repairs, inventory loss and insurance increases. However, only small businesses in certain areas are eligible for this funding, including businesses in and around the following areas: along commercial corridors of 82nd Avenue, East Portland, east of Interstate-205, North/Northeast Portland, Central City, or the inner westside of Portland. In addition, applicants must have been in business prior to March 2020 when COVID was declared a pandemic, employ three or more employees, and have had a 2019 Annual Gross Revenue in the range of $300,000–$3 million.
"These grants are tremendous because they basically allow us to focus on our core business," Boynton said. "Now I can get back to employing people and selling drums and offering lessons and do the things that I do best."