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Committee hears on HB 2350 to make Small Business Sustainability Fund permanent
Summary
Chair Winn opened the public hearing on House Bill 2350 on Jan. 29; the bill would create a permanent Small Business Sustainability Fund at Business Oregon to provide grants, forgivable loans and loans to traded‑sector and regionally important small businesses.
Chair Winn opened the public hearing on House Bill 2350 on Jan. 29. The bill would direct the Oregon Business Development Department (Business Oregon) to establish a permanent Small Business Sustainability Fund to support retention and expansion of small businesses with grants, forgivable loans and loans.
Michael Held, a Business Oregon regional official testifying at the agency’s request, said the bill “is really about 2 things, accountability and results.” Held said the fund grew from pandemic‑era programming and transfers from the Strategic Reserve Fund and that the bill would create a dedicated fund to continue flexible financing. “This fund is a way to addressing part of that gap,” he told the committee.
Held described key program features: awards may be grants, forgivable loans or loans; awards are intended for traded sector or regionally important businesses; the statutory…
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