Areas Served: Statewide Oregon
The Oregon Business Development Fund (OBDF) is a revolving loan fund that provides term fixed-rate financing for land, buildings, equipment, machinery and permanent working capital.
Participants must create or retain jobs and must typically be a traded-sector business in manufacturing, processing or distribution.
The program gives preference to projects located in rural and distressed areas and to small businesses with fewer than 100 employees.
Loans have: – Maximum amount of $700,000, – Maximum term and amortization of 20 years or the useful life of the project and/or collateral, – Fixed interest rate of U.S. treasury Bills plus 1% APR (4% minimum APR) and – 1.5% loan origination fee.
Applications must show the business: – Has the ability to create or retain jobs as a result of the loan, – Is a traded-sector manufacturing, productio, processing or distribution company, – Has a commitment to lend from a qualified private financial partner or economic development organization – Can provide good and sufficient collateral for the loan – Possesses a reasonable capacity to repay the loan and – Meets other criteria outlined in the OBDF Application and Oregon Administrative Rule.
Contact Information
Business Oregon
Address: 775 Summer St. NE, Suite 200
City: Salem
State: Oregon
Website:
https://www.oregon4biz.com/
Leave a Reply