SMALL BUSINESS ASSISTANCE
Taking Ownership's mission to deter gentrification doesn't end with Black homeowners.
We know predatory real estate practices have displaced Black small business owners from their communities and their customers.
Taking Ownership PDX can provide up to $10,000 to Black-owned small businesses who need financial assistance. This money can be used for:
paying overhead costs to help them stay in their place of business,
and/or purchasing supplies, services, and materials to grow a business.
Program Overview
We partner with DevNW’s Individual Development Account program to fund this program. We have 10 spots to fill each year and you can get on the waitlist if you don’t make this round.
For example, if you receive $1,200 from us and complete the program, DevNW will grant you an additional $6,000.
Timeline
Complete our onboarding form.
Make an introduction with DevNW Individual Development Account (IDA) coordinator.
Take a business class through DevNW
Make a business plan and profit/loss statement.
Open an IDA account and invoice Taking Ownership PDX for $1,200.
Complete DevNW tasks, finish program and receive DevNW’s 5:1 match.
Document REQUIREMENTS
Majority Black-owned For-Profit businesses will be selected on a first come, first serve basis that meet the program requirements and provide the following documents:
Complete our online application,
registered business in Portland Metro Area (Multnomah, Washington or Clackamas counties)
For-Profit Business,
W9,
a document that confirms the ownership of the business and LLC status,
a vendor invoice ,
A tax statement that shows:
Less than $300,000 per year in gross earnings,
Less than $50,000 in profit per year, per owner,
Fewer than 10 employees.