Areas Served: Benton County
The business loan programs available in Benton County, Oregon are outlined below with individual program highlights given.
Business Investment Fund
For-profit and not-for-profit businesses acquiring or improving land, buildings, machinery & equipment, furniture & fixtures or in need of working capital.
No refinance – Economic Impact: 1 job/$15,000 borrowed.
Loan Amount:
- $25,000-100,000 or maximum of 75% of project
- Private Contribution: Minimum of 25% of project
Loan Costs:
- CWCOG loan fee of 1.5% of the loan amount
- Application deposit of $300, non-refundable if the application is withdrawn after approval
- Borrower pays all closing costs, these may be included in the loan request.
Rural Development Fund (Outside Corvallis only)
For-profit or not-for-profit businesses acquiring, remodeling or refurbishing land, building, machinery & equipment, furniture & fixtures or in need of working capital.
Refinance under limited conditions.
Economic Impact: 1 job / $50,000 borrowed.
Loan Amount:
- $25,000-250,000 or maximum of 50-75% of project.
- Rate: Fixed at the prevailing prime rate set at the time of loan closing, minimum of 7%.
- $10.00 monthly service fee – Private Contribution: 25-50% of project, minimum.
Loan Costs
- CWCOG loan fee of 1.5% of the loan amount.
- Application deposit of $500, non-refundable if application withdrawn after approval.
- All closing costs are paid by borrower, may be included in the loan request.
Contact Information
Oregon Cascades West Council of Governments
Address: 1400 Queens Ave
City: Albany
State: Oregon
Website:
https://www.ocwcog.org/
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