ECONOMIC DEVELOPMENT: 2020-2024 INITIATIVES
ENTREPRENEURIAL AND SMALL BUSINESS FINANCING
Entrepreneurial Opportunity Loan Program (EOLP) The EOLP program, a public/private partnership with EMBOLD Community Credit Union, is designed only for start-up businesses. It provides loans of up to $20,000 at an exceptionally low 0.5% interest rate and defers the first year’s principal payment. This program empowers small business startups to access affordable funding, making critical growth and expansion goals achievable. Micro Enterprise Grant Program In partnership with Oregon BIZ, Oregon’s state economic development agency, and the Micro-Enterprise Services of Oregon (MESO), this grant program provides essential grant funding of up to $10,000 for low-to-moderate income business owners of existing micro-enterprise businesses with five or fewer employees. It helps entrepreneurs overcome financial barriers and invest in their success. Mt. Hood Economic Alliance Program Oregon City Economic Development Department’s representation on the board of this regional collaboration strengthens its commitment to small businesses by supporting entrepreneurs across Clackamas, Hood River, and Wasco counties, enhancing opportunities and resources for local entrepreneurs.
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