The Foundation for Affordable Housing has partnered with The Change Reaction and City Councilor Chris Piper to announce the Bend Small Business Relief Fund.
This fund, supported by donations from wealthy individuals, will provide zero interest loans to Bend-area ‘Main Street’ businesses that have been negatively impacted by COVID-19. The loans will be interest-free and available to businesses with less than 15 employees. All loan repayments will be ‘paid forward’ to other Bend small businesses.
The Haven is Bend’s First Loan Recipient
On Tuesday, July 28 at 11 AM, there is going to be presentation a $25,000 check to The Haven, a shared-space working co-op, the first Bend business to receive a $25,000 zero-interest loan. Councilor Piper says,
“The Haven is a special business for Bend and is suffering solely as a result of COVID. With a focus on gender parity in entrepreneurship, business and politics, and women of color, The Haven is a social and work HUB for people making a difference in Bend. Thank you to The Change Reaction, Foundation for Affordable Housing, and Deschutes Ridge Business Park for building a financial bridge to make it through these unprecedented times.”
The Change Reaction
The Change Reaction was launched in Los Angeles in 2019 and has provided more than 2,000 direct grants through 35 grass-roots organizations and hospitals, creating a movement that is being replicated in communities around the country. Greg Perlman, founder of The Change Reaction says,
“What we’re trying to do here is provide a simple, streamlined process to help local small businesses in need. My wife and I have decided to substantially increase our philanthropy during this crisis, because if not now, when? The Change Reaction is happy to partner with Councilor Piper and The Foundation for Affordable Housing to help local businesses recover from this crisis and provide love, hope and relief for members of our communities,”
Bend Small Business Relief Fund Guidelines and Application
Loans will range from $5,000 – $25,000 and will be repayable in equal installments over the course of 24 to 36 months, after a grace period of three months. Businesses must have normal revenues of $1M or less and 15 or fewer employees to qualify. Eligible businesses will be required to submit:
- Proof of 12-months rent paid on time through March 2020
- Proof of submission of the COVID-19 Economic Injury Disaster Loan Application
The Change Reaction Small Business Loan application can be found here: https://forms.gle/5NBVvVjbQTtCfbRJ7.
For More Information
If you would like more information, specifically to donate to Bend Businesses in need, please email Tommy Waldron at: ChangeReactionBend@ffah.org
For more information about The Change Reaction, visit https://ChangeReaction.org