We’ve teamed up with Oregon City and Micro Enterprise Services of Oregon to offer the Entrepreneurial Opportunity Loan Program (EOLP), an innovative, low-cost, patient loan fund designed to support small business growth.
Are you a start-up business within your first three years of operation and located in Oregon City? The Entrepreneurial Opportunity Loan Program is a pilot initiative; therefore, limited funds are available. We encourage you to apply now!
What are the loan terms?
» Start-up businesses can apply for up to $20,000.
» No payment required for first 12 months.
» Interest accrues at 0.50% during the first 12 months¹.
» After 12 months interest will accrue at Prime + 3.00%¹.
» Loan must be paid within five (5) years.
What can funds be used for?
Loan funds may be spent on the purchase of equipment, property, or building renovations, provided that the business owns the property where they are located. Businesses may also borrow funds to support working capital needs, however, additional information will be required in the loan application.
Apply now! This is a pilot program and funds are limited. Applications will be accepted between August 15, 2022 and September 30, 2022. Applicants are not funded on a first come first serve basis.
*Important: To avoid losing your work, save a copy of the loan application to your computer.
Answers for your questions.
EOLP stands for Entrepreneurial Opportunity Loan Program.
Start-up companies located within Oregon City that have been in business for three (3) years or less are eligible for the program. While it is not necessary to be a member to apply, loan recipients will need to become business members in order to receive funds.
Applications will be reviewed by a panel of judges selected by Oregon City. Application quality, borrower eligibility, and other credit criteria will be used to determine recipients.
No. Because this is a partnership program between Clackamas, Oregon City, and MESO, we are not able to offer a Member Perks discount on this loan rate.