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).
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.
John Safstrom, Loan Program Manager 503-540-1612 firstname.lastname@example.org
Ed Howard, Loan Officer 503-540-1614 email@example.com
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.
The budget of Valley Development Initiatives can be downloaded here.