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Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
Apnba June 2008 Conference   Atiemo
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Apnba June 2008 Conference Atiemo

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PDC Small Business Programs, Fred Atiemo, Portland Development Commission. Track 1, Presentation 4

PDC Small Business Programs, Fred Atiemo, Portland Development Commission. Track 1, Presentation 4

Published in: Business, Economy & Finance
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  • 1. PDC Small Business Program S ll B i P Fred Atiemo Portland Development Commission APNBA Business District Association Conference – June, 2008 1
  • 2. PDC Business Finance Program Urban Renewal Area Area Specific Programs City-Wide Programs Programs EDA Hatfield QJP NEF EOF EDGLF DTIF Start-Up Start-Ups Start-Up Business Retention & Expansion Business Retention & Expansion Business Retention & Expansion p Neighborhood Revitalization N i hb h d R it li ti (Working Capital, Equipment Neighborhood Revitalization Purchase, etc.) Real Estate Development APNBA Business District Association Conference – June, 2008 2
  • 3. Business Finance Objectives “Gap Financing” Through: Gap Financing Job Creation Wealth Creation Neighborhood Revitalization APNBA Business District Association Conference – June, 2008 3
  • 4. Quality Jobs Program A flexible loan program designed to stimulate investment pg g and quality job growth. Capital Investment – Physical improvements to the property within the Urban Renewal. Business must pay a minimum of 2x Oregon’s minimum Oregon s wage. 75% of revenues must be business-to-business (Waived business-to-business. for small businesses; award reduced by 50%). APNBA Business District Association Conference – June, 2008 4
  • 5. Economic Opportunity Fund Incentive funds (grant) to stimulate private investment of physical development of commercial buildings in URAURA. 75% of revenues must be business-to-business. business-to- (Waived for small businesses; award reduced by 50%). No retail or speculative commercial development; must occupy at least 75% of building. py g Maximum Economic Opportunity Fund $100,000. Grant G t amount cannot exceed the QJP or DTIF loan. t t d th l APNBA Business District Association Conference – June, 2008 5
  • 6. DTIF Loan Program Used only for physical improvements. y py p Max loan: $1 million. Repayment: Interest only for first 2 years. One job for every $25,000 loaned. Owner user. APNBA Business District Association Conference – June, 2008 6
  • 7. Hatfield Loan Program For small business in the inner N/NE neighborhoods – g (Burnside to Columbia; 42nd to Greeley). Maximum loan amount: $500,000 One job for every $25,000 loaned. Eligible for working capital, equipment purchase, real estate purchase, and bank loan guarantee. Borrower must occupy at least 75% of space. APNBA Business District Association Conference – June, 2008 7
  • 8. E D A Loan Program Citywide program designed to assist small businesses. Maximum loan amount: $150,000 ($250,000 for R/E). One job for every $25,000 loaned. Eligible for working capital, equipment purchase, and real estate acquisition. Borrower must occupy at least 75% of space space. APNBA Business District Association Conference – June, 2008 8
  • 9. Economic Development General Loan Fund Citywide program designed to spur business y pg g p development in distressed neighborhoods. Maximum loan amount: $300,000. $300 000 One job for every $25,000 loaned. Eligible for working capital, equipment purchase, and real estate acquisition. Borrower must occupy at least 75% of space. APNBA Business District Association Conference – June, 2008 9
  • 10. Near Equity Fund Citywide program - hybrid between equity and debt. y pg y qy Business must be existing for at least 2 years. Designed for businesses with 20 or less employees. Maximum l Mi loan amount: $50 000 t $50,000. Designed for working capital and equipment purchase. g g APNBA Business District Association Conference – June, 2008 10
  • 11. Loan Rating Hard Rating: Business Management Experience Industry Experience Repayment Ability Credit / Character Collateral Soft Rating: Leverage of PDC Dollars Business Conditions Other Public Benefits APNBA Business District Association Conference – June, 2008 11
  • 12. Business Finance Program FY 2000 th through 2007 h Number of businesses assisted: 327 Total resources deployed: $67 million Percentage to small business: 85% (approx.) Total private dollars attracted: $390 million Number of jobs projected: 12,000 (approx.) (8/15/07) APNBA Business District Association Conference – June, 2008 12

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