Business Financing

Business financing can be one of the most challenging aspects of relocating a business or starting a new one.  Fortunately there are a variety of funding sources available to help business owners meet the financial needs of almost any project.

U.S. Small Business Administration (SBA)

The SBA is a United States government agency that provides support to entrepreneurs and small businesses.  The agency provides access to capital through loans and equity financing and also provides counseling and training for entrepreneurs. SBA small business finance programs include:

  • SBA 7(a) Loan Guarantee Program
    This program helps start-up and existing small businesses secure financing when they may not be eligible for business loans through normal lending channels.  Loans are funded by banks or other approved lenders, and the SBA guarantee reduces the lender’s risk of borrower non-payment.  Learn more about the SBA 7(a) Loan Guarantee Program.
  • SBA Certified Development Company 504 Loan Program (SBA 504)
    This program provides financing of up to $5 million for the purchase of fixed assets such as real estate, buildings or equipment.  Typically the borrower must contribute 10% of the total project cost, their bank lends 50%, and an area CDC lends the remaining 40%.  Eastern Oregon’s CDC is the Greater Eastern Oregon Development Corporation (GEODC), located right here in Pendleton.  Learn more about the SBA 504 Loan Program and the GEODC.
  • SBA Microloan Program 
    This program provides small loans ranging from $500 to $50,000 to start-up, newly established, or growing small business concerns through a network of approximately 160 non-profit intermediaries nationwide.  Each lending intermediary has its own lending and credit requirements, so determining which can serve your business will depend on a number of factors.  Learn more about the SBA Microloan Program.
  • SBA Small Business Investment Company Program (SBIC)
    SBICs are privately owned and managed investment funds, licensed and regulated by the SBA, that use their own capital plus funds borrowed with an SBA guarantee to make equity and debt investments in qualifying small businesses.  Learn more about the SBA SBIC Program.

Business Oregon

Business Oregon is an Oregon government state agency that works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding and support of economic development opportunities for Oregon companies and entrepreneurs.  Business Oregon administers a variety of business finance programs including:

  • Oregon Business Development Fund (OBDF)
    Provides term fixed-rate financing for land, buildings, equipment, machinery and permanent working capital for businesses to expand or locate in Oregon.These loans can fund up to 40% of a project with a limit of $1 million.  Learn more about the Business Oregon OBDF Program.
  • Entrepreneurial Development Loan Fund (EDLF)
    Provides direct loans of up to $50,000 to help start-ups, micro-enterprises and small businesses expand or become established in Oregon.  Learn more about the Business Oregon EDLF Program.
  • Oregon Credit Enhancement Fund (CEF)
    Is a loan insurance program available to lenders to assist businesses in obtaining access to capital.  The fund insures the repayment of loans made by lenders that provide working capital or fixed-asset financing to businesses.  Learn more about the Business Oregon CEF Program.
  • Oregon Capital Access Program (CAP)
    Helps lenders issue more commercial loans to small businesses by making contributions to the lender’s loan loss reserve account for each qualified CAP loan they enroll.  This insures the bank’s loan portfolio, to a degree, against the risk of default.  Learn more about the Business Oregon CAP.
  • Oregon Industrial Development Bonds (IDB)
    Finance job creation and business growth for Oregon traded-sector, value-added manufacturers and processors by providing long-term debt financing for land, buildings and other fixed assets at a rate below prime. The bonds are available to manufacturers, processors, exempt facilities (e.g., docks or solid waste facilities) and nonprofits and generally provide the greatest benefit to the borrower for bonds of $5 million or more.  Learn more about Business Oregon IDBs.

Greater Eastern Oregon Development Corporation (GEODC)

Greater Eastern Oregon Development Corporation is a private non-profit organization that provides economic development services for private sector businesses and public sector government agencies in Eastern Oregon.  Organized as a Certified Development Corporation through SBA, GEODC administers a variety of federal, state and locally funded loan programs that can finance anything from real estate and fixed assets to working capital and inventory.  Read a brief overview of locally available GEODC loan programs below.  Learn more about GEODC.

  • SBA Certified Development Company 504 Loan Program (SBA 504) 
    This program, funded by the SBA, provides financing of up to $5 million.  Typically the borrower must contribute 10% of the total project cost, their bank lends 50%, and GEODC lends the remaining 40%.  Learn more about the SBA 504 Loan Program.
  • USDA Rural Development Intermediary Relending Program (USDA IRP)
    This program, funded by the USDA, provides financing of up to $250,000.  The loan can finance up to 75% of project costs.  Learn more about the USDA IRP.
  • Economic Development Administration (EDA) Revolving Loan Fund (RLF) 
    This program, funded by the EDA, provides financing of up to $100,000.  The loan can finance up to 1/3 of project costs.
  • Microbusiness Revolving Loan Fund (RLF)
    This program provides financing of up to $10,000.
  • Native American Entrepreneur Revolving Loan Fund
    This program provides financing of up to $20,000 for Native American entrepreneurs.