OAR 123-019-0000: Purpose

The intent of the Entrepreneurial Development Loan Fund is to provide direct loans to help start-ups, micro-enterprises and small businesses expand, become established, and/or retain operations in Oregon. The Fund is intended to fill niches not provided by banks or credit unions through traditional lending programs. Loans made from the Fund are intended to bridge early-stage funding gaps that exist due to lack of operating history, limited availability of business and personal assets necessary to adequately secure the loan, limited liquidity, sub-standard credit quality and other credit risks. To the extent possible, Certified Entities will assist Applicants in developing application materials necessary to qualify for financing and the Department will structure loans to prepare Applicants to qualify for loans from traditional lenders. This Fund is intended to compliment, not compete with, private capital.