RDI is Offering Grants for Small Business Owners!
¡Sí podemos, Grant! RDI offers a grant of $3,000 to $5,000 for entrepreneurs and both new and existing businesses can apply. This grant is a great opportunity for entrepreneurs and small business owners to start a new business or expand an existing one without having to borrow money from lenders or rack up credit card debt. However, it is important to note that there are specific criteria that must be met to be eligible for the grant and it is essential to carefully read and understand the grant requirements before submitting an application.
Requirements:
You have been a participant in our training or currently enrolled in one
You are residing in rural Oregon
and also comply with one of the following:
Identify as Latino/Hispanic
Maintain a low economic status
Have low English language proficiency.
If you are interested in applying, complete the eligibility form as soon as possible. If you are eligible, you will receive a link to submit your completed application no later than February 22.
Complete Application: In the application, you must explain in detail how you will use your funds and how this grant will benefit your business. Required documents include the following: (These documents must be submitted along with your application):
- Business Plan (assistance will be available if you need to create a business plan)
- Copy of your 2022 taxes (Personal or business)
- 2 estimates of what you will buy with your grant money
- Proof of address and identification
- Optional: Letter of recommendation.
If you need help creating a business plan or any of the other documents, don’t hesitate to ask for help. We are here to support you in any way we can.
Steps to Apply:
- Complete the eligibility form. Submit this form early so that you have enough time to prepare the full application.
- Once you meet the eligibility criteria, you will receive an invitation to turn in a full application. The invitation will include a link to the application form and the required document.
- The application is due no later than midnight on February 22, 2024. Late applications will not be accepted.
- The RDI team will review your application and contact you if you are awarded the grant.
Allowed Use of Grant Funds:
- Business launch expenses
- Business expansion
- Buy equipment and tools.
- Buy ingredients/inventory
- Register the business with the state, pay for the license and certifications.
- Marketing and promotion of your product or service
- Minor renovations
What happens after you are awarded the grant?
Grant funds must be spent between November 1, 2023 and June 30, 2024. RDI is happy to answer any questions and provide award winners with a list of permitted categories.
You will receive a form 1099 in January following your acceptance of the grant award. We encourage you to consult a business tax advisor if you have questions about how the grant may impact your taxes.
You will be required to submit copies of receipts for all purchases made with the grant funds via an online form. Be prepared to share your success story!
