Overview of Loan Programs

(click here for a printable version of these programs in Excel)

~Other Loan Programs

Program:

OECDD

SBA

ECONOMIC

DEVELOPMENT

MICROLOAN

SCENIC AREA

OBDF

OEDLF

504

7-A

DEVELOPMENT

LOAN FUND

FUND

MICROLOAN

FUND

Oregon Economic &

U.S. Small Business

Columbia Gorge

Washington

Skamania

Community Development

Administration

National Scenic Area

Dept. of Community,

County

Skamania

Department

Washington Investment

Trade, and Economic

E.D.C.

County

Board

Development

E.D.C.

Entrepreneurial

Certified

Oregon Business

Development

Development Co.

Bank Loan Guaranty

Revolving Loan Fund

Business loan fund

Micro business loan

Development Fund

Loan Fund

Program

Uses:

Fixed Assets or

Fixed Assets Only

Fixed Assets or

Working Capital

Eligibility:

For Profit Oregon

Oregon Small

For Profit

For Profit Washington

Small Businesses in

Small Businesses,

Businesses that meet 2

Small Businesses

Small Businesses,

Small Businesses

Skamania and

Skamania

Cities, Counties and

of the following: less than

local governments and

Western Klickitat

within the Columbia River

local development

2 yrs old / sales under

development corporations

Counties

Gorge National Scenic

corporations

$100,000 / or disabled

- Skamania Co

Area

Amounts:

up to $500,000

up to $25,000 with

$50,000 - $1,000,000

75% - 80% guaranty

up to $250,000

$15,000 - $500,000

$500 - $10,000

$10,000 to $30,000

up to 40% of project

one follow up loan of

up to 40% of project

up to $750,000

up to 33% of project

up to 100% of project

up to $15,000

New Jobs

1 job per $30,000

none specified

1 job per $35,000

none required

None specified

1 job per $10,000

none required

Required:

loaned

but, preference given

loaned

(preference)

(can be waived)

for job creation

Equity req'd:

usually at least 10%

at least 20%

at least 10%

none specified

Rates:

U.S. Treasuries

2% over prime

5 & 10 yr treasury

2.25% - 2.75%

currently 4% to 6%

Varies

Set at time of commitment

plus 1%

rate - fixed

rates, + increment

above prime rate

generally at Market rates

Terms:

up to 20 years

up to 5 years

10 or 20 years

up to 25 years

up to 20 years

3 to 7 years

up to 10 years

Fees:

1.5% + costs

approx 3% + legal

up to 2%

up to 1.5% + costs

Costs only

2% (+ costs)

Additional Information

For existing businesses, minimum 10% down on real estate

Generally 25% to 35% equity injection for startup businesses

MCEDD loans can most often be subordinate to bank

All loan programs require creation of new job opportunities

Retail may be ineligible with some programs - check with MCEDD loan officer

Debt refinance is eligible under some circumstances - check with MCEDD loan officer

Off project collateral may be required, including mortgage on private real estate

Ability to service debt and management capabilities are more important than collateral

Credit report must be satisfactory with any negative items explained

Steve Schafroth at (541) 296-2266