See announcements below on commercial rent relief and mortgage relief programs.
1. Commercial Rent Relief Program – Applications due March 8th
The Oregon Legislative Emergency Board allocated $100 million to Business Oregon for a new program to provide financial assistance to small businesses and commercial landlords impacted by the economic hardships caused by the COVID-19 pandemic.
The program provides grants to building owners to cover outstanding lease payments from small business tenants that are behind on rent due to COVID-19. The grants can go up to $100,000 per each business tenant lease, but not more than $3 million for each landlord. The landlord must agree not to evict the tenant for six months and waive any rights to collect outstanding penalties or interest, or enforce eviction clauses related to the delinquent lease payments between March 1, 2020 and February 28, 2021.
The program will open for applications on Monday, March 8. Both the business tenant and property owner will need to participate in the application process and sign the grant agreement, but the initial application needs to be completed by the landlord. Applicant’s will be selected for funding based on a lottery system.
More program information (available in several languages) and eligibility details are available on Business Oregon’s website.
Watch short information video here.
2. COVID-19 Mortgage Relief Program – Deadline March 14th
The COVID-19 Mortgage Relief program helps Oregon homeowners who are struggling to make their mortgage payments.
For eligible applicants currently receiving unemployment benefits, it will bring their mortgage current and make up to six monthly payments directly to their mortgage servicer. For those who have returned to work, but are behind on their mortgage, it will bring their account current.
Homeowners who have suffered a financial hardship and are struggling to keep up with their mortgage should visit https://www.oregonhomeownerhelp.org. The site is available in Spanish as well.
Funding is limited and applications will only be accepted through 3/14/2021.
Please reach out if there is anything we can do for you.