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Business Oregon
Nathan Buehler
Marketing Mgr
Email; 503-689-3559

August 11, 2015 Media Contact
Ryan Frank 971-804-2530

Business Oregon Creates Loan Program to Help Small Manufacturers Grow

Business Oregon, the state's economic development agency, is launching a $250,000 loan program to help small manufacturers increase their revenue and grow jobs in Oregon.

"Manufacturing is a cornerstone of Oregon's economy and delivers family wage jobs around the state," said Governor Kate Brown. "We must make sure our small manufacturers have the tools to compete globally so they continue to thrive and grow. This program will provide these tools to some who traditionally wouldn't have access."

Oregon has about 5,300 manufacturers and 75 percent of them have 20 or fewer employees. When they look to expand, these small companies often don't qualify for traditional commercial loan programs. The Small Manufacturing Business Expansion Program seeks to fill that gap for six to 12 companies.

"Small manufacturing drives the creation of middle-class jobs," said Sean Robbins, Business Oregon's director. "Investing in these Oregon companies helps people where it matters most."

Learn more about the program details and qualifications on the Business Oregon Web site. Please contact your local Business Development Officer for an application.

About the Small Manufacturing Business Expansion Program
It will target traded sector companies that export their products to other states and countries in the technology, outdoor gear or wood products industries. The loans are capped at $50,000 and may be forgiven for companies that meet specific performance goals. To be eligible, companies must have no more than 25 employees and provide at least 50 percent of the project cost from its own resources. Learn more.

Business Oregon, Oregon's economic development agency, works to create, retain, expand and attract businesses that provide sustainable, living-wage jobs for Oregonians through public-private partnerships, leveraged funding, and support of economic opportunities for Oregon companies and entrepreneurs.