Business Growth Loans are accessible for new and existing businesses and nonprofits in Eugene through the federal Community Development Block Grant program. This fund was established to create jobs while stimulating private sector investment. These loans help organizations grow, evolve or stabilize by addressing credit barriers and providing flexible financing options. Since 1983, the City of Eugene has loaned more than $22 million to more than 250 Eugene businesses, creating more than 2,000 new jobs and leveraging an additional $81 million in private investment.
Interest rate is fixed, typically at market, for the term of the loan.
The loan term is generally between 3-7 years.
$50 non-refundable application fee
1% loan fee
$75,000 - $500,000: dependent upon availability of funds and job creation.
Applications for larger or smaller loan amounts may be considered on a case-by-case basis.
Most loans require at least 50/50 private matching funds, with the exception of loans specifically for female- or minority-owned businesses or businesses that face extraordinary credit barriers.