The MWVCOG Small Business Loan Program, which started in 1983, can help with low interest loans to assist small businesses expand or start new ventures by providing access to commonly used government finance programs, such as U.S. Small Business Administration (SBA), U.S. Department of Agriculture (USDA), U.S. Economic Development Administration (EDA), and State of Oregon Business Development Fund (OBDF).
Purpose
Loan programs have targets and goals, such as diversifying the regional economy, stimulating investment, and jobs growth. However, common to all of the programs is creating jobs by using loan program funds as a catalyst to leverage private participation to the greatest extent possible.
Job creation is accomplished by preserving working capital in the businesses to use for hiring (or retaining) employees by structuring long term fixed asset financing using low interest rate subordinate debt to leverage bank financing, and by extending term working capital loan when it is necessary to bridge working capital gaps in the business’ conventional bank lines of credit loan limits.
Jeff Hilderbrand, Loan Program Manager 503-540-1613 jhilderbrand@mwvcog.org
Direct lender, where money is loaned directly to the borrower. (Example: revolving loan funds).
Intermediary, where we package, close and service loans funded through contractual agreements. (Examples: U.S. SBA through CCD Business Development Corporation, State of Oregon Business Development Loan Program.)
Our loan program works with CCD Business Development Corporation, which is a Certified Development Company and an intermediary lender that handles SBA 504 loans.
Documentation List:
The budget of Valley Development Initiatives can be downloaded here.
The MWVCOG Revolving Loan Program and Valley Development Initiatives each have Loan Boards for the various Public Finance Programs for Small Business Lending options available here in the Mid-Willamette Region. These volunteer Board members help insure that our lending programs meet the public purpose of expanding capital to the region’s businesses and entrepreneurs.
Valley Development Initiatives (VDI)
Board of Directors
President: Derik Munns, Citizens Bank (Commercial Lender)
Vice President: Vacant
Secretary: Tom Pessemier, City Manager, City of Independence (Member City)
Members:
Sam Brentano (City of Sublimity)
Ray Teasley (Economic Development)
Truman Stone (Attorney)
Andy Bennett, Pacific West Bank (Commercial Lender)
Alex Rhoten, Coldwell Banker Commercial Mountain West (Real Estate)
Lesa Goff, Bank of the Pacific (Commercial Lender)
MWVCOG Revolving Loan Fund
Loan Board
Chair: Derik Munns, Citizens Bank (Commercial Lender)
Vice Chair: Vacant
Members:
Tom Pessemier, City Manager, City of Independence (Member City)
Sam Brentano (City of Sublimity)
Ray Teasley (Economic Development)
Truman Stone (Attorney)
Alex Rhoten, Coldwell Banker Commercial Mountain West (Real Estate)
Lesa Goff, Bank of the Pacific (Commercial Lender)