The intent of the Entrepreneurial Development Loan Fund is to provide direct loans to help start-ups, micro-enterprises and small businesses expand, become established, and/or retain operations in Oregon. The Fund is intended to fill niches not provided by banks or credit unions through traditional lending programs. Loans made from the Fund are intended to bridge early-stage funding gaps that exist due to lack of operating history, limited availability of business and personal assets necessary to adequately secure the loan, limited liquidity, sub-standard credit quality and other credit risks. To the extent possible, Certified Entities will assist Applicants in developing application materials necessary to qualify for financing and the Department will structure loans to prepare Applicants to qualify for loans from traditional lenders. This Fund is intended to compliment, not compete with, private capital.

Statutory/Other Authority

ORS 285A.075, 285B.740-285B.758, Ch. 765 & OL 1993

Statutes/Other Implemented

ORS 285B.740 - 285B.758, Ch. 765 & OL 1993

History

OBDD 1-2023, amend filed 01/18/2023, effective 01/18/2023
OBDD 4-2022, temporary amend filed 03/09/2022, effective 03/09/2022 through 09/02/2022
OBDD 34-2010, f. & cert. ef. 10-1-10
OBDD 10-2010(Temp), f. & cert. ef. 4-12-10 thru 10-9-10
EDD 3-1994, f. 2-4-94, cert. ef. 2-7-94
EDD 7-1993(Temp), f. & cert. ef. 9-17-93
EDD 12-1992, f. & cert. ef. 8-26-92
EDD 16-1991(Temp), f. & cert. ef. 11-8-91