South Central Oregon Economic Development District
- Business Loans $10,000-$250,000
- Applications are reviewed by a local advisory board
- Interest rate cap is 3 points above prime rate at closing
- At least 10% of new investment towards the total cost of the project
must be contributed by the borrower (riskier start-ups may be
required to contribute additional equity)
- Sufficient collateral to cover loan amount is required
- SCOEDD can fund up to 75% of the project
The loan program is meant to provide capital for start-up and expansion for small business activity not served by traditional lenders. Loans cannot exceed $50,000 or be more than 75% of the eligible project cost.
The Micro Loan program focuses not only on credit but includes one-on-one counsel and guidance. This technical assistance combination is necessary to provide the highest opportunity for success.
Rural Microloan Application Kit
- Fixed assets (land/building acquisitions, equipment, fixtures, and/or machinery purchase)
- Inventories and supplies
- No agriculture
- Up to 25% of loan used for working capital
- Fixed assets (land/building acquisitions, equipment, fixtures, and/or machinery purchase)
- Inventories and supplies
