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Business Loan Program
The Columbia Pacific Business Loan Program provides flexible gap financing for expansion of existing businesses, start-up of new businesses, creation of employment opportunities and/or saving existing jobs in NW Oregon.
Our goals are simple:
- Attract new jobs and investments
- Diversify the local economy
- Support the creation and expansion of rural and small community businesses
- Provide business opportunities for low income workers and their families
- Support the financial community by providing additional, secondary loan financing for local customers
Small businesses in Clatsop, Columbia, Tillamook, and western Washington counties (west of Hillsboro).
The basic uses include, but are not limited to:
- Business and industrial acquisition and modernization
- Purchase of equipment, machinery, and supplies
- Supplying funds for working capital
- Transfer of business or employment from one area of Oregon to another
- Agricultural production
- Charitable and educational institutions
- Church or church sponsored organizations
- Fraternal organizations, golf courses, race tracks or gambling facilities
- Insurance companies and investment and lending institutions
A preliminary application package will be required consisting of a business plan and financial statements.
To qualify for an approved loan, borrowers must have collateral pledged to adequately secure the loan. In most instances, an appraisal will be required to determine the value of the collateral.
Loan rates follow current market rate and typically range two to three points above prime rate.
Loan fees are a minimum of 2.0%.
Once our loan officer has reviewed the package and has determined the project is eligible, a $400 application fee will be required.
- Contact us for more information
