Rural Microentrepreneur Assistance Program in Oregon
What does this program do?
- To help microenterprises startup and growth through a Rural Microloan Revolving Fund.
- Provide training and technical assistance to microloan borrowers and micro entrepreneurs.
- Federally-recognized tribes.
- Institutions of higher education.
- Businesses located in an eligible area with 10 or fewer full-time employees.
- 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.
- 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.
- 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.
- Maximum term is 20 years.
- Two-year payment deferral.
- Must establish a loan loss reserve fund.
- Up to $50,000.
- Fixed interest rate.
- Limited to 75 percent of project cost.
- Working capital.
- Debt refinancing.
- Purchasing equipment and supplies.
- Improving real estate.
- 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).
The preferred method to submit applications in Oregon is by email. Send applications to firstname.lastname@example.org.
Intermediaries currently operating Rural Microentrepreneur Assistance Program revolving loan funds in Oregon:
212 Main Street
Springfield, OR 97477
Contact: Ann Price, Accounting Manager
(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
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
Albany, OR 97321
Contact: Sandra Easdale, Loan Officer
Counties Served: Benton, Lincoln, and Linn counties
Pioneer Micro Fund Network
2420 NE Sandy Boulevard
Portland, OR 97232
Contact: Quinton Jay, Managing Director
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
Counties Served: Klamath and Lake counties
Tillamook Bay Community College
4506 Third Street
Tillamook, OR 97141
Contact: Amy Blackburn, Accountant
(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, email@example.com
Pendleton Office Contact:
Eben Fisher, Business & Cooperative Programs Loan Assistant
(541) 278-8049 ext. 129, firstname.lastname@example.org
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, email@example.com