Areas Served: City of Newberg
The City of Newberg’s Economic Development Revolving Loan Fund (EDRLF) is a low interest loan program designed to assist new businesses as well as encourage the expansion of existing local businesses.
– Job creation or retention will be considered as part of the loan approval process.
A target is one job for each $20,000 loaned.
Business shall annually report the number of employees in the business for the current and prior two (2) years during the life of the loan.
– Loans can be made for up to 50% of the total project; private investment match must be made within six months following the date of loan approval.
– No loans shall be for less than $10,000, nor more than $200,000, or up to 50% of the cash balance available in the fund to be loaned whichever is greater
Contact InformationCity of Newberg, Oregon
Address: 105 High Street, SE
City: Salem
State: Oregon
Website:
http://www.newbergoregon.gov/economicdevelopment/newberg-economic-development-revolving-loan-fund-edrlf
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