Oregon Business Development Fund (OBDF)

About this funding opportunity

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Page Navigation Oregon Business Development Fund (OBDF)

The Oregon Business Development Fund (OBDF) is a revolving loan fund that provides fixed-rate term gap financing for land, buildings, equipment, machinery, and permanent working capital. The fund is designed to provide gap financing in conjunction with a traditional lender.

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Business Finance Officer

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Who is Eligible?

Applicants must create or retain jobs and must typically be a "traded sector business" (as defined in ORS 284.550) 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. How Does Funding Work?

Loans have: A maximum amount of $2,000,000; A maximum term and amortization of 20 years or the useful life of the project and/or collateral; A fixed interest rate of U.S. treasury Bills plus 1% (4% minimum); and A $200 application fee and a 1.5% loan origination fee. What is the Application Process?

Applications must show the business: Has the ability to create or retain jobs as a result of the loan; Is a traded-sector manufacturing, production, 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.

Applicants should coordinate with a Business Finance Officer regarding application materials and the submission process.

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Topic areas: Public Policy and Governance, Advanced Manufacturing and Industry, Workforce Development, Social Innovation and Community Development, Housing and Community Development.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Oregon Business Development Fund (OBDF) is administered by Business Oregon (Oregon Business Development Department) (Business Oregon), listed via Business Oregon (Oregon Business Development Department).