Entrepreneurial Development Loan Fund
The Entrepreneurial Development Loan Fund (EDLF) provides direct loans to help start-ups, micro-enterprises and small businesses expand or become established in Oregon. This fund fills a niche not provided through traditional lending markets.
Participants must meet one, or both, of the following criteria:
- have revenues of less than $500,000 in the previous 12 months or
- be a business owned by a severely disabled person.
- a maximum amount of $50,000,
- a maximum term and amortization of 5 years and
- a fixed interest rate of Prime plus 2% APR.
Applications must show that the business:
- can provide good and sufficient collateral for the loan,
- possesses a reasonable capacity to repay the loan,
- meets program equity requirements,
- is enrolled in small business counseling through Certified Entities and
- meets other criteria outlined in the EDLF Application and Oregon Administrative Rule.
The following organizations are certified to provide small business counseling:
- Small Business Development Centers (SBDCs)
There are 19 SBDC locations around the state. Find a center near you.
- Oregon Association of Minority Entrepreneurs (OAME), Portland, Oregon, 503-249-7744
- Mercy Corps Northwest, Portland, Oregon, 503-896-5075
- SCORECounselors to America's Small Business
SCORE is a nonprofit association and a resource partner with the U.S. Small Business Administration (SBA). Portland Chapter; Salem Chapter; Willamette Chapter
- Wallowa County Business Facilitation, 541-426-5858
- Hispanic Metropolitan Chamber, Portland, Oregon, 503-222-0280
- Micro Enterprise Services of Oregon, Portland, Oregon, 503-841-3351
- Umpqua Community Development Corp., serving Coos, Curry and Douglas counties, 541-673-4909
- Oregon Native American Business Network (ONABEN), Tigard, Oregon, 503-968-1500