Apnba June 2008 Conference Atiemo

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

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Apnba June 2008 Conference Atiemo

  1. 1. PDC Small Business Program S ll B i P Fred Atiemo Portland Development Commission APNBA Business District Association Conference – June, 2008 1
  2. 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. 3. Business Finance Objectives “Gap Financing” Through: Gap Financing Job Creation Wealth Creation Neighborhood Revitalization APNBA Business District Association Conference – June, 2008 3
  4. 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. 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. 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. 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. 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. 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. 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. 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. 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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