Benton County Loans

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 / $50,000 borrowed within 3 years
• Loan Amount: $250,000 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  • Application deposit of $500, non-refundable if the application is withdrawn after approval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 costs, these may be included in the loan request

Rural Development Fund

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. 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 Corvallis, OR to apply.

• Economic Impact: 1 job / $50,000 borrowed
• Loan Amount: $250,000 maximum, but not more than 75% of project
• Rate:  Current interest rates between 8%-9%; $12.00 monthly service fee
• Private Contribution: 25-50% of project, minimum
• Costs:
  • OCWCOG loan fee of 1.5% - 2.0% depending on the loan amount
  • Application deposit of $500, non-refundable if application withdrawn after approval
  • All closing costs are paid by borrower, may be included in the loan request.

Rural Microentrepreneur Assistance Program (RMAP)

Businesses in a rural area with 10 or fewer employees may apply with a Microenterprise Development Organization.

Funds between $5,000 to $50,000 available for:

• Working capital
• Acquisition of materials, supplies, inventories
• Purchase furniture & fixtures and machinery & equipment
• Debt refinancing
• Real estate and leasehold improvements