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.
Funds can be used for but are not limited to:
Working capital and inventory purchases
Purchase of machinery and equipment
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.
“The City of Eugene has been an extraordinary partner in our growth and development over the last two decades. Our bicycle manufacturing company has an unusual business model that has not always matched bank requirements for loans. The city has understood our mission and supported us many times through its business growth loans. These funds have allowed us to develop several of the world’s ‘firsts’ in folding bicycles. We are proud to be ‘handmade in Eugene’ and export around the world.” - Hanna Scholz, President - Green Gear Cycling dba Bike Friday
“Our vision was to create a sustainable business and a sense of community through good food and beverage. Without a loan from the City of Eugene we wouldn’t have been able to get off the ground.” - Tobi Sovak Co-Owner, Noisette Pastry Kitchen
Business Loan Analyst
99 W 10th Ave
Eugene, OR 97401
Fx: 541-682-5572 Email