Mid Columbia Economic Development District strives to promote the creation of family-wage jobs, the diversification of the economic base, and the growth, development and retention of business and industry in Hood River, Wasco, Sherman, Klickitat and Skamania Counties
MCEDD is organized as a government non-profit in Oregon as an ORS-190 and in Washington through RCW 39.34.010.
February 17, 2022 – The flexible small business lending resources offered through Mid-Columbia Economic Development District (MCEDD) have been recently refreshed to provide easier access to loans for up to $40,000. MCEDD’s new Microlending program supports entrepreneurs, new business start-ups, expanding businesses, existing businesses for debt refinancing, and most legal business ventures. Women- and minority-owned businesses are encouraged to apply!
As a service to the regional business community and as a strong part of its economic development strategy for the region, MCEDD staff manage several business loan programs. MCEDD’s programs provide an accessible, affordable source of capital for projects that create or retain jobs for businesses whose application has been denied by a commercial bank.
Business loan funds through MCEDD, Mt. Hood Economic Alliance and the Oregon Investment Board can be used to contribute to the financing needed by a business to purchase or build new facilities, purchase equipment, or provide working capital. These funds can support businesses in Klickitat and Skamania Counties in Washington, and Clackamas, Hood River, Sherman and Wasco Counties in Oregon.
In our recently approved Microlending program, terms of one- to five-years are available and full collateralization is not required. Applicants must supply a minimum of 5% towards the project to receive up to a 95% loan from a MCEDD-managed funding source. Interest rates depend on risk criteria and range generally from 8 to 12% with performance incentives to lower the interest rate during the loan term.
MCEDD staff is available to discuss potential applications and support the application process to make it easy and accessible. Learn more at mcedd.org/financing or contact Ami Beaver at 541-296-2266 x1004 or email@example.com for more information on MCEDD’s Loan Programs.
February 10, 2022 – Pharaoh’s Family Farm received its first MCEDD loan in 2020 to introduce its organic washed dairy compost, DairyGrow, to the retail market. Since then, the Farm has branched out and developed a line of Worm Casting products that use the nutrient-rich wastewater from the dairy washing process, filtered through worm beds. The castings are then dried and concentrated into a powerful fertilizer.
EdenPure WormTEA is a small, 2-ounce packet that is brewed with water to create the tea that can be poured onto any type of planting or crops. EdenPure WormTEA has a low production cost and a corresponding low price point, and the small packaging is easily shipped and handled. MCEDD financing has provided additional support for the Farm’s operating and distribution costs to bring EdenPure WormTEA to market with a recently approved business loan!