NEOEDD offers direct business loans and assistance to access KIVA loans. We also offer matched savings for business financing through our Individual Development Account program.

Learn More About IDA

NEOEDD and our sister organization, Northeast Oregon Business Development, have helped dozens of businesses in Baker, Union, and Wallowa counties launch or expand their businesses with its loan programs.

Growing your business can require additional funding. We provide real estate, equipment and working capital loans. You want to be smart about taking on debt and growing your business. We can help. Structuring a competitive fixed-rate loan with payback terms that work for your company is important. NEOEDD has provided financing for many popular businesses and employers over the years. We look at your entire business and off-business assets to make a loan work. We help businesses get to where they want to go. We fill gaps in financing that remain after accessing traditional financing. We provide an alternative to starting your business on a credit card. 

If you are interested in financing your business through NEOEDD, we encourage you to complete our preapplication form and contact NEOEDD loan officer, Mike Ogan, mikeogan@neoedd.org or 541-519-7699 to learn more about our loan programs.

The Revolving Loan Fund (RLF) provides long-term, fixed-rate financing for land, buildings, equipment and machinery, and permanent working capital.

• Maximum loan is 50% of eligible project costs—preferred level of participation is 33%; this means that you will need financing from other sources—yourself, a bank, another loan program, etc.
• Not recommended for construction projects, as Davis-Bacon wage rates are required.

 INTERMEDIARY RELENDING PROGRAM

The Intermediary Relending Program (IRP) provides long-term, fixed-rate financing for land, buildings, equipment and machinery, and permanent working capital.

• Maximum loan is 75% of eligible project costs—this means that you will need financing from other sources—yourself, a bank, another loan program, etc.
• Can be used for permanent construction financing.

GENERAL LOAN INFORMATION

• Individual loans may not exceed $250,000.
• Interest rate depends on risk and other factors.
• Refinance of existing debt is discouraged.
• A minimum of one job must be created for every $25,000 of investment.
• The loan may not supplant private bank financing.
• Loans must be fully secured.
• Loans will normally be subordinated to other project financing.
• 10% owner equity or investment will be required.
• Application fee is $150. The borrower is responsible for loan-closing costs, including appraisals, title insurance and a closing fee.

INFORMATION REQUIRED FROM APPLICANTS

• Brief description of the business and its operations and services. Highlight your market, your customers, and major competitors.
• Description of the project to be developed, including the assets to be purchased and their costs.
• Number of full-time and/or part-time jobs that will be created as a result of this project.
• Description of any affiliated corporation, partnerships, or businesses in which a principal with 10% or more interest in the parent company also has a 10% or more interest in the affiliated company.
• Three years of financial statements for the current business or corporation you are operating.

This would include both a balance sheet and a profit-and-loss statement for each of these years (does not apply to business start-ups).

• Cash-flow projections for the business and an explanation of how this project affects the projections in terms of new sales and profits.
• Personal financial statements and federal tax returns for those principals who own 10% or more of the company.
• Interim financial statements for the most current period (should be no older than 30 days).

If you are interested in financing your business through NEOEDD, we encourage you to complete our preapplication form and contact NEOEDD loan officer, Mike Ogan, mikeogan@neoedd.org or 541-519-7699 to learn more about our loan programs.

NEOEDD/NOBD is an Equal Opportunity Lender, Provider, and Employer.

Microloans provide short-term fixed-rate financing for equipment, machinery, and permanent working capital.

GENERAL LOAN INFORMATION

• Maximum loan is $40,000
• Loan terms are 1-5 years, depending on the amount of the loan
• Your credit score will impact the interest rate and documentation needed
• Interest rates will generally be 8-18%
• Refinance of existing debt is eligible
• Loans under $25,000 may be less than fully secured
• Loans over $25,000 must be fully secured
• 5% owner equity or investment will be required
• The borrower is responsible for loan-closing costs including appraisals, title insurance and a 1% closing fee
• Borrower shall meet with NEOEDD or SBDC staff prior to applying and every other month after loan closing

If you are interested in microloan financing, we encourage you to complete our preapplication form and contact NEOEDD loan officer, Mike Ogan, mikeogan@neoedd.org or 541-519-7699 to talk about your financing needs.

NEOEDD/NOBD is an Equal Opportunity Lender, Provider, and Employer.

KIVA is a non-profit organization offering no-interest loans. With a KIVA loan, businesses can raise up to $15,000 at 0% interest from your supporters and others who are interested in supporting small businesses.  NEOEDD has partnered with Reinventing Rural to bring the KIVA fundraising process to rural Oregon. In order to apply for funding, you will need a business plan. You can take NEOEDD’s Foundations business planning or CO.STARTERS CORE classes to complete your business plan. Reinventing Rural can also help you with your business plan and filling out your KIVA profile. You can find out more about KIVA here.

NEOEDD provided a first round of EEIP funding through small grants and matched savings accounts in 2024. We have secured additional funding to provide EEIP small grants in 2025. The grant application is open Februar7 17 through March 16, 2025. More information.