Rural Microentrepreneur Assistance Program in Oregon

PROGRAM STATUS:

Open

What does this program do?

It provides loans and grants to Microenterprise Development Organizations (MDOs) to:
  • To help microenterprises startup and growth through a Rural Microloan Revolving Fund.
  • Provide training and technical assistance to microloan borrowers and micro entrepreneurs.
 
Who may apply for this program?
The following are eligible to be a Microenterprise Development Organization:
  • Nonprofits.
  • Federally-recognized tribes.
  • Institutions of higher education.
The following are eligible to apply for a loan from the MDO as an ultimate recipient:
  • Businesses located in an eligible area with 10 or fewer full-time employees.
What is an eligible area?
  • Rural areas outside a city or town with a population of fewer than 50,000 residents. Urbanized areas near a city of 50,000 or more may not be eligible.
  • The borrower’s headquarters may be based within a larger city so long as the project service area is located in an eligible rural area.
  • The lender may be located anywhere.
 
Are there other requirements?
Microenterprise Development Organizations must demonstrate experience in managing a Revolving Loan Fund, or:
  • Certify that it or its employees have received education and training from a qualified microenterprise development training entity so that the applicant has the capacity to manage such a revolving loan fund.
  • Demonstrate that it is actively and successfully participating as an intermediary lender in good standing under the U.S. Small Business Administration (SBA) Microloan Program or other similar loan programs as determined by the Administrator.
What kind of funding is available? 
  • Grants are available to provide technical assistance to rural micro-entrepreneurs or microenterprises, up to $205,000 annually. Funding at the requested level is not guaranteed, and at least 15 percent matching funds are required.
  • Loans of $50,000 to $500,000 may be used for establishing a Rural Microloan Revolving Fund managed by the Microenterprise Development Organization. Total aggregate debt is capped at $2.5 million.
What are the loan terms?
  • Maximum term is 20 years.
  • Two-year payment deferral.
  • Must establish a loan loss reserve fund.
What terms are required on loans to ultimate recipients?
  • Up to $50,000.
  • Fixed interest rate.
  • Limited to 75 percent of project cost.
How may the funds be used?
Microlenders may make microloans for qualified business activities and expenses including, but not limited to:
  • Working capital.
  • Debt refinancing.
  • Purchasing equipment and supplies.
  • Improving real estate.
How do we get started?
Applications are accepted on an ongoing basis. Please contact your local state office for additional information and to apply for the Rural Microentrepreneur Assistance Program.
 
Who can answer questions?
Contact your local office.
 
What law governs this program?
  • Code of Federal Regulations, 7 CFR 4280, subpart D.
  • This program is authorized by Section 379E of the Consolidated Farm and Rural Development Act (7 USC 2008s).
Why does USDA Rural Development do this?
Rural Development undertakes this program in order to support the development and ongoing success of rural microentrepreneurs and microenterprises.
 
NOTE: Because citations and other information may be subject to change, please always consult the program instructions listed in the section above titled “What law governs this program?” You may also contact your local office for assistance.

The preferred method to submit applications in Oregon is by email. Send applications to or.rd.bp.apps@usda.gov.

Intermediaries currently operating Rural Microentrepreneur Assistance Program revolving loan funds in Oregon:

Community LendingWorks
212 Main Street
Springfield, OR 97477
Contact: Ann Price, Accounting Manager
ann@nedcocdc.org
(541) 345-7106 ext, 207
Counties Served: While located in the Willamette Valley, Community LendingWorks can lend to any business or person in Oregon.

Micro Enterprise Services of Oregon
4008 NE Martin Luther King Jr. Boulevard
Portland, OR 97212
Contact: Nita Shah, Executive Director
nshah@mesopdx.org
(503) 841-3351
Counties Served: Clackamas, Columbia, Hood River, Marion, Multnomah, Polk, Umatilla, Washington, and Clark (Washington State) counties

Oregon Cascades Council of Governments
1400 Queen Avenue SE
Suite 205B
Albany, OR 97321
Contact: Sandra Easdale, Loan Officer
seasdale@ocwcog.org
(541) 924-8460
Counties Served: Benton, Lincoln, and Linn counties

Pioneer Micro Fund Network
2420 NE Sandy Boulevard
Suite 129
Portland, OR 97232
Contact: Quinton Jay, Managing Director
(415) 828-8898
QJay@OregonMicroFund.com
Counties Served: Benton, Douglas, Hood River, Jackson, Josephine, Lane, Linn, Marion, Polk, and Yamhill counties

South Central Oregon Economic Development District and Klamath Lake Regional Housing Center
PO Box 1529
Klamath Falls, OR 97601
Contact: Betty Riley, Executive Director
betty@scoedd.org
(541) 884-5593
Counties Served: Klamath and Lake counties

Tillamook Bay Community College
4506 Third Street
Tillamook, OR 97141
Contact: Amy Blackburn, Accountant
amyblackburn@tillamookbaycc.edu
(503) 842-8222 ext. 1270
Counties Served: Tillamook County

NOTE: If state-specific forms are not shown above, please ensure that your state is selected in the dropdown menu above to find the State Office contact information and speak to a Business Programs Specialist before attempting to fill out any forms or applications. This will save you valuable time in your application.

You may also access the Code of Federal Regulations, 7 CFR 4280, subpart D.

There are no other additional requirements at the national level. If there are additional state-specific requirements they will be listed above.

There are currently no events scheduled.

Tangent Office Contact:

Nathan Brown, Business & Cooperative Programs Specialist
(541) 801-2685, nathan.brown2@usda.gov

Pendleton Office Contact:

Eben Fisher, Business & Cooperative Programs Loan Assistant
(541) 278-8049 ext. 129eben.fisher@usda.gov

State Contacts:

Main Phone: (866) 923-5626 ext. 4
Relay Service: Dial 711 for a free relay service operated by the FCC
Fax: (866) 824-6181

USDA Rural Development
Attn: Business & Cooperative Programs
1220 SW 3rd Avenue, Suite 1801
Portland, OR 97204

Mandie Cole, Business & Cooperative Programs Director
(541) 378-3538, mandie.cole@usda.gov