Port Revolving Loan Fund

About this funding opportunity

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Page Navigation Oregon Port Revolving Fund

Oregon state law recognizes the important role of ports in economic development. Business Oregon supports ports' economic development efforts by way of technical assistance, intergovernmental coordination and responsible investment. The Oregon Port Revolving Fund provides loan funding to assist ports in the planning and construction of facilities and infrastructure.

Contact

Find Your Regional Development Officer

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How Does Funding Work?

The Oregon Port Revolving Fund provides loans to ports for planning and construction of facilities and infrastructure. Eligible expenses include: pre-project planning, engineering, acquisition, improvement, rehabilitation, construction, operation and maintenance. The project must be referenced in the port's strategic business plan.

Ports may finance a total amount of $3 million from the Fund. The interest rate on repayment will be set by Business Oregon at market rates, but not less than United States Treasury Notes of a similar term minus one percent. The loan term may not exceed the useful life of the contracted project or 25 years from the year of project completion, whichever is less.

Repayment begins no later than one year after the date of the loan contract. If the loan is provided for a flexible manufacturing space project, Business Oregon may determine that no interest shall accrue until the building is at least 25 percent occupied, or until three years after the date of the loan contract, whichever is earlier. Who is Eligible?

Any port district incorporated under ORS Chapters 777 to 778 is eligible to apply. What is the Application Process?

Applications are accepted year round. To begin the application process, ports should consult with their respective Regional Development Officer to learn more about the program, discuss their interest and receive assistance in filing the necessary application materials and $100 application fee.

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Topic areas: Public Policy and Governance, Social Innovation and Community Development, Transportation and Mobility.

Funding amount

This other 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

Port Revolving Loan Fund is administered by Business Oregon (Oregon Business Development Department) (Business Oregon), listed via Business Oregon (Oregon Business Development Department).