This program may apply to capital improvements within the Fairview URA.
Maximum Loan Amount: $200,000
Terms and Requirements
- Loan Forgiveness: 70% maximum determined by annual increase in full time equivalent (FTE) employees
- Interest Rate: Prime + 2%* (*lower interest rate may apply based on the public value of the project)
- Loan Term: 15-year maximum, with the option of 5-year deferred payment
- Security: Sufficient collateral to secure loan amount
- Traded sector business that produces and sells its product inside and outside the local community
- Gross annual sales of $100,000 - $1.5 million
- Workforce of 100 or fewer Oregon employees
- Property located within the Fairview URA
- Capital Improvements
- Building Improvements
- Permanent Structures
- Permanent Manufacturing Equipment
Additional terms may apply and may be subject to change.