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Oregon
Investment Board (OIB)
National Scenic Area Economic Development Dollars
Program Summary - Extremely flexible program which is available
for higher risk/non-bankable loans within the National Scenic
Area. Must have a business plan and financial statements for application.
There is no maximum loan amount.
Mid-Columbia
Economic Development District MCEDD) Revolving
Loan Fund Program (RLF)
Program Summary - The MCEDD RLF can be used by private for profit
firms which conduct business in; manufacturing, value-added processing,
service and retail. The funds can be used to cover land costs,
building costs, machinery & equipment, working capital and
infrastructure costs.
Maximum Loan Amount: $75,000
Interest Rate: Currently 8.25%
Maximum Project Percentage: 33%
Maximum Loan Term: 3 years for WC/20 years for FA
Collateral: Can be behind primary lender
Leveraging: $2 private dollars for ever $1 RLF
For More Information on these programs contact:
Mid-Columbia Economic Development
District
400 East Scenic Drive, Suite 420
The Dalles, OR 97058
(541) 296-2266
Columbia
Gorge Economic Development Association (CGEDA) Private Development
Training Fund (PDTF)
Program Summary - The PDTF is designed to offset the
cost of workforce training for new and expanding companies. This
program will provide a 1 to 1 cash match to cover the cost of
training new employees up to $5,000 per job created. Jobs created
through this program must meet the “family-wage” standard
set by the State of Oregon.
For More Information
contact:
CGEDA
P.O. Box 631, Stevenson,
WA 98648
(Phone:) 888-760-3936
(Fax:) 509-427-5112
Mt.
Hood Economic Alliance
The Mt Hood Economic
Alliance is a partnership between Clackamas, Hood River and Wasco
counties that administers the Regional Investment and Rural Investment
Programs which foster and promote economic and rural community
development.
For More Information
contact:
Mary
McArthur
4336 SW Condor Ave
Portland, OR 97239
Voice: 503/228-5565
FAX: 503/228-7456
State
of Oregon Finance Programs
Oregon
Business Development Fund (OBDF)
Program Summary - The OBDF is a revolving loan fund, which provides
long term, fixed rate financing for land, buildings, equipment
and machinery. Manufacturing, Processing and regionally significant
tourism projects are eligible. Loans may not exceed $250,000 or
40% of total project costs. A private lender is required for a
portion of the project. The fund gives preference to projects
in rural areas which will create a minimum of one job for every
$15,000 of OBDF
Maximum Loan Amount: $250,000
Interest Rate: Fixed at 1 point over U.S. Tres.
Maximum Project Percentage: 40%
Maximum Loan Term: 20 years
Equity Requirements:10-30%
Capital
Access Program (CAP)
Program Summary - The CAP is designed to increase the availability
of loans to Oregon small businesses from banks. The program provides
loan portfolio insurance, so lenders may make loans that carry
higher than conventional risks. They still must be within the
soundness and safety requirements of federal and state banking
regulations.
Oregon
Entrepreneurial Development Loan Fund
Program Summary - The
EDLF allows the Oregon Economic Development Department to make
initial loans of up to $15,000 to entrepreneurial businesses.
Maximum Loan Amount: $15,000
Interest Rate: Fixed at 2 points over prime
Maximum Loan Term: 5 years
Equity Requirements: 20% minimum
Oregon
Industrial Development Revenue Bond Program
Program Summary - IRDBs are available to manufacturing, processing
and tourism-related facilities. Tax exempt status is the key feature
of industrial revenue bonds, which lowers the cost of capital.
If a project qualifies, interest paid is exempt from federal and
state income tax. Interest rates are typically 75 to 80 percent
of conventional rates.
The individual or corporation of on whose behalf the bonds are
issued is legally obligated to repay them. The Port or State have
no obligation to repay the holders of revenue bonds and do not
guarantee the bond.
Maximum Amount: $10,000,000
Minimum Amount: $1,000,000
Interest Rate: 75 to 80% of conventional rates
Limitations: Not more than 25% of bond process can be used for
land. Project must get letter of credit for entire bond amount.
Process can be cumbersome and expensive.
Oregon
Credit Enhancement Fund
Program Summary - This program provides guarantees to banks to
increase capital availability to small Oregon firms. Eligible
companies cannot employ more than 200 full-time employees. Manufacturers,
processors, natural resource industries, distribution industries,
new technology firms and others qualify.
Contact: Carolyn Sanco
Oregon Economic Development Development
400 East Scenic Drive, Suite 2-258
The Dalles, OR 97058
(541) 298-4140
Federal
Resources
Small Business Administration SBA 504 Loan Program
Program Summary - The SBA 504 can be used by for profit small
businesses. The funds can be used to cover land costs, building
costs, machinery & equipment.
Maximum Loan Amount: $750,000
Interest Rate: Approximately 1.7% above Treas.
Maximum Project Percentage: 40%
Maximum Loan Term:10 to 20 years
Collateral: Can be behind primary lender
Small Business Administration SBA 7A Loan Program
The SBA 7A can be used to secure fixed asset or working capital
loans for-profit small businesses. The program offers a 75%-90%
guarantee up to $750,000.
Contact: Steve Schafroth
Mid-Columbia Economic Development District
400 East Scenic Drive, Suite 420
The Dalles, OR 970581
(541) 296-2266
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