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Small Business Financing

September 24, 2021

Re: Changes with the Mid-Willamette Valley Council of Governments Business Lending Programs.

To our partners in Small Business Lending services:

The Mid-Willamette Valley Council of Governments (the COG) Business Lending Program is currently in transition as our Program Loan Manager, John Safstrom, has left the organization after 30 years of service.  While we celebrate John’s accomplishments, we would like to inform you of the interim actions and steps of our Loan Program from this moment forward.

The COG is currently advertising for the position of Business Loan Program Manager (see:  In the interim, Alison Boswell, Loan Officer, will be fielding inquiries regarding the Business Lending Program.  Alison can be reached at 503-540-1614 or  In addition, all matters dealing with current loan status, payoff amounts, and other information regarding loans may also be directed to Alison Boswell. 

We still offer our Small Business Lending Services and currently have EDA Cares Act Funds available as well as SBA 504, Community Advantage Loans, and Revolving Loan Funds.  We appreciate the business that we have been able to provide to your institution in the past making small business capital available in the Mid-Willamette Valley and look forward to working with you in the future.

Thank you for your attention to this matter.  If you have any further questions, comments, or concerns, please do not hesitate to contact me at 503-540-1601.


Scott F. Dadson

Scott F. Dadson, Executive Director

We provide assistance to small businesses.


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.

Why It Works

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.

To start the process, or if you have questions, contact:

Alison Boswell, Loan Officer   503-540-1614

Why Choose a Small Business Loan Program?

Traditional Bank Loans – Commercial Real Estate Requirements

  • Borrower equity: 20% or more
  • Terms: 10 Year Term (Amortization varies)
  • Interest rates: Market Rate
  • Collateral: 1st Lien Position
  • Newer Buildings in Active Commercial Real Estate Market

Small Business Loan Programs

  • Usually 40% of a project, combined with bank funding of 50% for 90% financing
  • Borrower equity: 10-20%
  • Terms: varies up to 20 years
  • Interest rates: Currently 5%
  • Collateral: Subordinate Lien Position

There are two Main Types of Loan Assistance through the Small Business Loan Program:

  1. Direct lender, where money is loaned directly to the borrower. (Example:  revolving loan funds).

  2. 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 Process

  • We meet with the business individually, or together with their lender, to determine loan structure and the financial information for the loans to be underwritten.
  • If the business does not have a primary lender, we can make referrals to banks and loan officers to expedite the process. The business chooses their bank.
  • We provide a typical timeline for a financing project plan to meet deadlines.

The Paperwork (or scanned paperwork)

Documentation List:

  • Short history of the business, including locations, strengths and weaknesses, your market and customers, how you have grown the business, how the business is managed/the management team, etc.
  • Short resume(s) of owner(s)/manager(s)
  • Past three years IRS returns for the Corporation and for the owner(s)
  • In-house current Year to Date Balance Sheet and Income Statement for the Corporation
  • Income Projections for the Corporation for the next two fiscal years with assumptions
  • Updated personal financial statement for the owner(s)
  • Purchase Agreement for the property
  • Copies of Contractor Bids

To download a presentation that provides more details, click here.

A brochure of our programs and services can be viewed or downloaded here.

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)


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


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)