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City of Eugene accepting loan applications to grow businesses

The City of Eugene is working to bolster new and existing businesses and the arts community by offering fixed-rate, low-interest loans.

Posted: Mar 14, 2019 2:11 AM
Updated: Mar 14, 2019 10:37 AM

EUGENE, Ore. -- The City of Eugene is working to bolster new and existing businesses and the arts community by offering fixed-rate, low-interest loans.

“Small businesses are the core of our economy,” said Aaron Doreen, business loan analyst for the City of Eugene. “These loans are designed to attract new businesses to the community, as well as provide capital to help already-existing businesses expand and hire new employees.”

There are four main categories in the loan program.

Art Loans: Made possible through a collaboration of the City of Eugene and the Arts and Business Alliance of Eugene, Art Loans (ranging from $10,000 to $100,000) encourage Eugene businesses, artists and nonprofits to incorporate art in a way that promotes economic growth. Learn more here.

Business Growth Loans: The goal of this loan is to help businesses hire more employees. These loans (ranging from $75,000 to $500,000) are predominantly used for the purchase of machinery and equipment and for working capital. For every $35,000 the City lends, one full time equivalent position(s) must be created. Click here for more about the City’s Business Growth Loans.

Downtown Loans: These funds (ranging from $75,000 to $500,000) are available for projects in Eugene’s Downtown Urban Renewal District and are used primarily for new construction, building rehabilitation or renovation, facade enhancements, tenant improvements and accessibility projects. You can find more information here.

River Loans: River Loans offer flexible financing to support projects that contribute to the renewal and redevelopment of the City’s river district along the Willamette River. Learn more about the River Loans here.

For more information, visit EUGloans.org

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