Small business loan fund gets $16.5M


Business Oregon received $16.5 million in federal funds to provide loans to small businesses.

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Business Oregon received $16.5 million in federal funds to provide loans to small businesses.

The federal funds, when combined with existing state programs, are expected to provide about $165 million in loans to small businesses in Oregon over the next four years, according to Business Oregon, the state’s business development department.

As the economy gets stronger, many lenders are looking for government assistance to help mitigate collateral, cash flow and credit weaknesses in the business applications they’re considering, Business Oregon Director Tim McCabe said. “This funding can go a long way toward meeting that demand and help create jobs here in Oregon.”

Read more at The Register-Guard.

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