SMALL BUSINESS ASSISTANCE

Taking Ownership's mission to deter the gentrification process doesn't stop with helping Black homeowners. We know predatory real estate practices had displaced Black small business owners from the communities their establishments once thrived in, causing many to shut down or move to a location not as accessible to the customers they serve. We provide financial assistance up to $10k to Black-owned small businesses who need a hand in starting up their business, paying overhead costs to help them stay in their place of business, and/or purchasing supplies, services, and/or materials that will increase their capacity.

Currently, we are in partnership with DevNW’s IDA program. We provide the initial funding of $1,200 to put into your IDA bank account and after the small business owner completes their program, DevNW will do a 5 to 1 match. Meaning they will add an additional $6,000 to the $1,200 we deposit into your account, totalling in $7,200 to use toward your small business.

REQUIREMENTS

  • Majority Black-owned small for-profit businesses will be selected on a first come first serve basis and must show us the following documentation:

  • Complete our online application (coming soon)

  • W9

  • a document that confirms the ownership of the business and LLC status

  • an invoice from the vendor they plan to have us pay

  • a tax document that shows their business grosses less than $300,000 per year, profit less than $50,000 per owner, and employs fewer than 10 employees.

APPLICATION FORM

All applicants will need to provide the following:

  • proof of LLC or 501(c)3 status

  • W9 with current info

  • invoice/s from the vendor/s they plan to pay

  • previous year's tax document.

LEARN MORE

To learn more about this program, contact Randal Wyatt:

Randal Wyatt
503-737-8374
Randal@takingownershippdx.org