Areas Served: Crook, Deschutes, Harney, Hood River, Jefferson, Klamath, Lake, and Wasco Counties.
COIC’s business loan programs provide financing packages for new or growing Oregon businesses, and are designed to participate with bank loans.
By using a COIC loan, your bank may be able to make a loan that could not be made otherwise.
In some cases, projects can be financed exclusively by COIC, without a companion bank loan.
For most businesses, the best place to start is with your bank loan officer.
If your bank is unable to provide you with the financing you need, contact our loan officers for information on COIC financing options.
COIC’s loans cover the following counties: Crook, Deschutes, Harney, Hood River, Jefferson, Klamath, Lake, and Wasco.
Use Of Loan Proceeds – Purchase an existing building – Purchase land and construct a new building – Purchase new or used equipment – Working capital – Business purchase may be eligible on a case-by-case basis – Refinance of existing debt is eligible on a case-by-case basis – Both start-up and existing businesses are eligible Program Basics – COIC loans are typically done in cooperation with a bank loan – In some cases, projects can be financed exclusively by COIC with no bank companion loan – COIC does not provide business lines of credit, only fully-amortizing term loans – All projects are required to create new job opportunities or retain existing jobs Loan Terms – Maximum loan size is generally $250,000 for the COIC portion of the project, although some exceptions apply there is no project size limit – Minimum loan size is typically $20,000 – Maximum loan term is 15 years for real estate and 10 years for all other loan purposes – Interest rate is fixed for the life of the loan, generally at a below-market rate – Loan fee is 1.5% of the loan amount and can be included in the loan
Contact InformationCentral Oregon Intergovernmental Council
Address: 334 NE Hawthorne Ave.
City: Bend
State: Oregon
Website:
http://www.coic.org/br/blprograms.htm
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