Financing To Grow Your Business
As a service to the regional business community and as a strong part of our economic development strategy for the region, MCEDD manages several business loan programs that provide an accessible, affordable source of capital for projects that create or retain jobs. These loan funds can be used to contribute to the financing needed by a business to purchase or build new facilities, purchase equipment, or provide working capital.
- Interest Rate and Fees: Low interest rate currently between 7.5% and 11%. Loan fee of 1.5%. Competitive loan costs. Currently no application fee!
- Loan Amount: Loans generally range from $1,000 to $150,000.
- Eligible Businesses: Almost any legal business including sole proprietorships, LLCs, Corporations, and partnerships can apply. We support start-ups, established businesses, and businesses from most sectors.
- Other: Job creation/retention requirements apply. We can accept a wide variety of collateral and can be in a secondary position as a lien holder.
Complete a loan application with supporting documentation. The Loan Board meets the first and third Tuesday of the month. Your application will generally be reviewed within 2-6 weeks and a decision made by the Loan Board. Fillable pdf application.
Talk to Us About All Your Financing Needs!
In addition to the funds directly managed by MCEDD, our staff is knowledgeable about most state and federal loan and assistance programs and have developed close relationships with those organizations. We can help a business to access and can help package applications to a range of loan programs such as the SBA or Oregon or Washington business development loan funds.