Linn County
Loans and Resources

There are three loan programs available from OCWCOG in Linn County – Business Investment Fund loans, Rural Development Fund loans (outside of Albany only), and Revolving Loan Fund loans. If any of these loan programs fit your needs, please follow the link to the Loan Application Process.

Business Investment Fund

For-profit and not-for-profit businesses acquiring or improving land; buildings; machinery and equipment; furniture and fixtures; or businesses in need of working capital can apply for a business investment fund loan. Refinance loans are available with this loan, under limited conditions.

  • Economic Impact: 1 job / $25,000 borrowed within 3 years
  • Loan Amount: $100,000 maximum, but not more than 75% of project cost
  • Private Contribution: minimum of 25% of project
  • Costs:
    • OCWCOG loan fee of 1.5% of the loan amount
    • Application deposit of $500, non-refundable if the application is withdrawn after approval
    • Borrower pays all closing and processing costs, and these may be included in the loan request

Rural Development Fund (outside Albany only) 

For-profit or not-for-profit businesses acquiring; remodeling or refurbishing land; building; machinery and equipment; furniture and fixtures; or businesses in need of working capital can apply for a rural development fund. Refinance loans are available with this loan, under limited conditions. For-profit or not-for-profit businesses must be located outside of the city limits of Albany, OR to apply.

  • Economic Impact: 1 job / $50,000 borrowed
  • Loan Amount: $250,000 maximum, but not more than 75% of project costs
  • Rate: Fixed at the prevailing prime rate set at the time of loan closing, minimum interest rate of 5%; $12.00 monthly service fee
  • Private Contribution: 25-50% of project, minimum
  • Costs:
    • OCWCOG loan fee of 1.5% of the loan amount
    • Application deposit of $500, non-refundable if the application is withdrawn after approval
    • Borrower pays all closing and processing costs, and these may be included in the loan request

Revolving Loan Fund

For-profit and not-for-profit businesses acquiring or improving land; buildings; machinery and equipment; furniture and fixtures; or businesses in need of working capital can apply for a revolving loan fund. No refinance loans available through a revolving loan fund.

  • Economic Impact: 1 job / $50,000 borrowed
  • Loan Amount: $5,000 – $242,000 or maximum of 50% of project
  • Costs:
    • OCWCOG loan fee of 2% for loans between $5,000 to $150,000; 1.5% for loans between $150,001 to $242,000
    • Application deposit of $500, non-refundable if the application is withdrawn after approval
    • Borrower pays all closing and processing costs, and these may be included in the loan

Contact Us

Sandra Easdale
seasdale@ocwcog.org
541-924-8460