Three more grants OK’d

Three more Portland businesses qualified for grants from the city’s coronavirus relief program.

Portland Economic Development Income Tax (EDIT) Advisory Committee met Thursday and preliminarily approved $1,250 grants for P&B United Enterprise, Flower Nook and Renegade Custom Cycles to cover some of businesses’ lost revenue reported during the ongoing coronavirus epidemic.

Those expenses were not covered by relief loans P&B United and Flower Nook reported receiving in coronavirus related grants from the Small Business Administration.

Renegade Custom Cycles did not apply for any other relief programs, according to its application.

The Loft on Meridian Street was the only other business to apply for the grant program, which is funding grants through the city’s EDIT fund.

Applications from The Loft, Greazy Pickle and Triple Taxi Service are pending because they have not provided the required tax forms and profit margin sheets to be eligible for the grant.

Committee members Kent McClung, Janet Powers, Travis Richards, Lori Phillips and John Boggs, absent Mike Aker, learned that each of the three businesses awarded grants experienced significant profit shortages so far this year compared to the previous fiscal year. According to the business’ revenue reports, Renegade Custom Cycles reported a loss of $51,000 in revenue compared to last year, Flower Nook made $27,000 less compared to last year and P&B United reported a revenue shrink of a couple thousand dollars.

Any Portland business that reports a revenue loss or expense related to the COVID-19 epidemic is eligible for the grant, applications for which are available online at bit.ly/2EbHMcC. There is still $145,000 in the $150,000 pot to fund grants through the city’s Small Business Resilience Grant program.

A total of seven Portland businesses have applied for the grant since it opened Aug. 18.

The committee is scheduled to meet the next three Thursdays to review new or pending applications. The grant is open until the end of October.