Business Finance & Incentives

Business Financial Assistance

The PDC business financial assistance program has two major objectives: job creation/retention and wealth creation. We achieve these objectives through gap financing, meeting the financial need where 'gaps' exist. Portland companies able to obtain some financing from private sources or lenders, but not enough to achieve their objectives, are potential candidates for PDC business finance tools.

Each program has unique service areas, terms and job creation requirements. We can also provide information about state and federal finance programs and connect you to the Small Business Administration, new markets tax credits and other loan programs.

The PDC program includes both loans and incentive grants. Typically your business location and planned use of funds will guide the determination of the appropriate financial tool for your needs.

For a full list of programs, see the Business Finance Programs chart contained in the Quick Guide to PDC Business Finance Programs brochure or refer to the links below:

• Direct TIF (also known as Deferred Loan Program)
• Revolving Loan & Real Estate Fund (Economic Development Administration)
• Economic Opportunity Fund (EOF)
• Enterprise Loan Fund
• North/Northeast Business Assistance (also known as Hatfield)
• Quality Jobs Program (QJP)
• Storefront Improvement Program

In the past year, PDC's business programs reached nearly 500 companies and helped to create or retain more than 3,700 jobs. Businesses invested more than $55 million in private dollars, thanks to the leverage of PDC financing programs. Nearly 80 percent of PDC's business finance clients are small businesses. "PDC's Small Business Advocate shared valuable information and resources with us; following up in detail to every question we had; you made us feel heard. This outreach is an incredible service!" — Portland small business owner "I can only offer up kudos for the Storefront Improvement Program." — Portland business finance client "We totally removed the facade and rebuilt it. This program is helping to encourage new investment in the neighborhood. We see businesses around us taking advantage of the program, and things are looking better all the time." — Ben Hankins, owner of Hankins Hardware

PDC also manages the North/Northeast Portland Enterprise Zone and Electronic Commerce Zone Programs, which use five-year tax abatements and, in certain cases, a 25 percent state income/excise tax credit to leverage significant private investment that spurs economic activity in the community.

• Enterprise Zone Program
• E-Commerce Zone Program

For State of Oregon incentive programs, contact the knowledgeable staff at the Oregon Economic and Community Development Department (866-467-3466) or visit www.Oregon4biz.com for details.

Map your property! You can quickly determine whether you meet the geographic requirements for the programs listed above by entering an address into our GIS Mapping tool, and then clicking on the Development link in the top navigation of the query results window.

• Tax Exemptions
• Corporate Credits
• Financing
• Project Development Assistance
• Workforce Development Assistance

How to Qualify

To qualify, existing businesses must have a solid track record, a viable business plan and a demonstrated ability to repay the loan.

Start-up companies may qualify if they demonstrate strong managerial skills and relevant industry experience, as well as a strong and realistic business plan showing an ability to repay the loan.

Applicants must also show that their business will create new or retain existing jobs paying competitive wages and benefits, with real opportunities for advancement.

Business Finance loan rating criteria are as following:

• Management/Industry Experience
• Repayment Ability
• Credit
• Collateral
• Leverage
• Public Benefit
• Business Condition

To find out how we can help you with finance options, call us at 503-823-3321 or email Neal Fitzgerald.

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