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.

Loans are:

• 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.

Certified Entities

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
• SCORE—Counselors 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