Business owners who have fallen behind on their rent payments during the coronavirus pandemic may receive help from Business Oregon, the state’s economic development agency, which is managing the $100 million set aside by state lawmakers for rent relief.
But receiving the money may take four to six weeks as the agency builds a program to distribute the money, according to the Portland Business Journal.
Business owners will need to apply for the funding allocated Jan. 8 by the Legislature’s joint emergency board. It may be set up as a grant to pay delinquent lease payments for small businesses falling behind because of COVID-19. Businesses might receive $100,000 or $200,000, perhaps distributed by lottery.
A state moratorium preventing eviction of delinquent residential and commercial tenants expired at the end of 2020. In December, Oregon legislators provided $200 million in December to help residents and landlords cover their rents.