PUBLIC FINANCING

 

The State of Oregon and local agencies within Columbia County offer a range of public incentives and financing options that strengthen the competitiveness of local firms by reducing the costs of doing business and providing access to capital. Most of these programs are geared towards manufacturing, logistics, processing, and other "traded-sector businesses".  

For more information on any of these programs, call CCET at (503)410-1061!

 

Col-Pac Revolving Loan Fund

The Columbia Pacific Business Loan Program provides flexible gap financing for the creation of employment opportunities and/or saving existing jobs in the region.


Examples of the basic uses include:

• Business and industrial acquisition and modernization

• Purchase of equipment, machinery, and supplies

• Supplying funds for working capital

Loan rates will be typically at current market rate, however the interest rates can range from two to three points above prime rate, with a minimum interest rate of 5.0%.  Loan fees generally are 1.50% for loans $50,000 and 2.0% for loans under $50,000.

 

Oregon Industrial Development Bonds

Oregon Industrial Development Bonds are tax-exempt bonds issued by the state of Oregon, designed to help Oregon manufacturers grow. They provide long-term financing for land, buildings and equipment.

These bonds finance job creation and business growth for Oregon traded-sector, value-added manufacturers and processors by providing long-term debt financing for land, buildings and other fixed assets at a rate below prime. Affordable interest rates and tax-exempt status assist in lowering capital expenses. The bonds are available to manufacturers, processors, exempt facilities (e.g., docks or solid waste facilities) and nonprofits and generally provide the greatest benefit to the borrower for bonds of $5 million or more.

 

Oregon Express Bond Program

The Oregon Express Bond program uses much less paperwork and more standardized documents than the traditional Oregon Industrial Development Bond program. This is to save borrowers time and money during the tax exempt bond borrowing process.

Business Oregon has selected a bond counsel firm with a pre-approved fee schedule. Express Bonds are placed with the borrower's bank and may be feasible for financing smaller projects, particularly within the $500,000 to $5 million cost range.

 

Oregon Business Development Fund

This program provides direct loans that leverage private capital and provides incentives for businesses to expand or locate in Oregon. 

 

Oregon Capital Access Program

This program provides a form of loan portfolio insurance so banks may make business loans that carry higher than conventional risks, while complying with federal and state banking regulations. 

 

Oregon Credit Enhancement Fund

This program provides loan guarantees to banks in order to increase capital availability to small businesses.

 

Oregon Entrepreneurial Development Loan Fund

This program offers direct loans to help new businesses get started.

 

Port of St. Helens Bond Financing

The Port of St. Helens is able to issue tax-exempt municipal bonds to manufacturers to acquire land, equipment, and construct buildings. Bond transactions must be approved by the Port of St. Helens Commission.