RAIN Helps Entrepreneurs in Rural Oregon Survive Thanks to Improved PPP Access
Senator Ron Wyden, a dozen underrepresented entrepreneurs from small towns across the state of Oregon were able to step up to the (virtual) mic to share their stories.\nThrough RAIN, rural Oregon entrepreneurs are finding their voice and finding access to funding, support and development programs that help them and their communities thrive.
EUGENE, Ore., May 5, 2021 /PRNewswire-PRWeb/ -- Initially, the U.S. Small Business Association's Paycheck Protection Program funds had access issues all too familiar to underrepresented entrepreneurs. Heavy paperwork and onerous record requests meant many were shut out from getting the funding they needed to survive.
Thanks to a roundtable facilitated by RAIN (Regional Accelerator & Innovation Network) with Oregon's U.S. Senator Ron Wyden, a dozen underrepresented entrepreneurs from small towns across the state of Oregon were able to step up to the (virtual) mic to share their stories.
Through RAIN, rural Oregon entrepreneurs are finding their voice and finding access to funding, support and development programs that help them and their communities thrive. RAIN believes entrepreneurs advocating for themselves is critical and resulted in more small and early-stage businesses in Oregon getting the help they needed.
"Access to capital is an ongoing barrier for entrepreneurs, especially in rural Oregon," says Chief Executive Officer Caroline Cummings. "We facilitate a place in which these early-stage and small business owners have a voice with legislators and policymakers."
Seth and Melissa Clark, owners of Blue Valley Bistro in Creswell and Coburg, Ore. had to let half of their 20 employees go in March 2020. Another seven left about the same time of their own accord. The Clarks also had to close their Coburg location. These painful decisions came prior to the first PPP loan and were a last-ditch effort to save the business.
"Thanks to the PPP loan, we were able to hire anyone back who wanted to return and also weather the ebbs and flows of the last year," says Clark. "We couldn't have done it without being able to access this capital. Our business would have likely failed if it wasn't for the PPP funds."
The Clark's story is not unique. Rural businesses are underserved and underrepresented. Only 34 percent of rural entrepreneurs RAIN serves received some form of emergency support over the last 15 months -- PPP or EIDL. Yet, when rural businesses can get access to capital, the impact reaches far into their communities.
Rural Oregon communities can contact RAIN to learn more about how the organization can support their local small businesses.
About RAIN (Regional Accelerator & Innovation Network):
RAIN is a 501(c)(3) non-profit organization that is run by experienced entrepreneurs and angel investors and exists to reduce barriers to entrepreneurship and innovation. Since 2014, RAIN has been invited to serve 23 cities across 5 counties in Oregon to help them build inclusive entrepreneurial ecosystems and innovation economies. In October 2019, RAIN's board of directors voted to expand their footprint to serve global underrepresented communities.
RAIN's mission is to partner with communities to catalyze entrepreneurial ecosystems, connect entrepreneurs to resources—including overlooked entrepreneurs—and contribute to the creation of prosperous economies.
RAIN's vision is all communities support, value, and celebrate entrepreneurs; regional leaders recognize entrepreneurs are a primary creator of net new jobs; small and rural communities have thriving economies, and a culture of possibilities is embraced.
Visit http://www.oregonrain.org to learn more.
Media Contact
Kelli Matthews, Verve Northwest Communications, +1 (541) 579-5888, [email protected]
SOURCE RAIN
