Linn 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  • Application deposit of $500, non-refundable if the application is withdrawn after approval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 and processing costs, and 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 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  • Application deposit of $500, non-refundable if the application is withdrawn after approval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  • Application deposit of $500, non-refundable if the application is withdrawn after approval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

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