Get connected to resources– for real results

The Portland Development Commission connects people and resources to create more jobs for Portland. We work with city of Portland businesses to identify business needs and eligibility for PDC assistance,  and then help you find the program that fits best.

In general, PDC business finance programs address the need for:

• Working capital
• Equipment purchase
• Credit enhancement
• Real estate acquisition
• Tenant improvements
• Property development & rehabilitation
• Property feasibility study
• Façade improvements

See the chart below for service areas, interest rates and general terms.
PDC Business Finance products are undergoing changes; please call for specific guidelines.

 

BUSINESS NEED	LOAN AMOUNT	INTEREST RATE	GENERAL TERMS	SERVICE AREA
Working Capital	Up to $100k	Max Prime + 4%	Loan fee: 2% Up to 1 year interest only payments. Up to 10 years amortization.	City-wide
Equipment Purchase	Up to $150k	Max Prime + 4%	Loan fee: 2% Up to 1 year interest only payments. Up to 7 years amortization.	City-wide
Credit Enhancement	Varies	Varies	Applicant applies through a private lender. Private lender uses its own underwriting guidelines and obtains PDC approval. PDC provides 50% of insurance up to $25k to the bank.	City-wide
Real Estate Acquisition	Up to $250k	Max Prime + 4%	Loan fee: 2% Up to 1 year interest only payments. Up to 10 years amortization with a 10-year term.	City-wide/ URA
Tenant Improvements	Up to $2 Mil	Max Prime + 3%	Loan fee: 1% Up to 1 year interest only payments. Up to 10 years amortization with a 5-year term.	URA
Property Development & Rehabilitation	Up to $2 Mil	Typically 3% Call to confirm	Loan fee:  0% 20 years amortization with a 10-year term for permanent loan. Pre-development and construction loans also available under different terms.	URA
Property Feasibility Study	Up to $12k	N/A	Grant:  80/20 matching grant to help commercial property owners and option holders to study the feasibility of property redevelopment.	URA
Façade Improvements	Up to $20k	N/A	Grant:  Up to 75/25 matching grant to help commercial property owners and/or tenants with storefront improvement costs.	City-wide/ URA

 

Additional Information:

• Minimum Debt-Coverage-Ratio: 1.0
• Maximum Loan-To-Value Ratio: 100%
• Funds may be used to support start-up companies, but most fund sources require business to be in operation for at least 2 years.
• Depending on the source of funds, real estate acquisition may require applying at least 51% of the loan amount towards improvement related expenditures.
• Depending on the source of funds, real estate acquisition and tenant improvements may require borrower to occupy 75% or more of building space being financed.
• Loans are underwritten based on: Management Experience; Industry Experience; Repayment Ability; Credit; Collateral.

 

Portland Enterprise Zone

PDC is the local sponsor for the Portland Enterprise Zone program, which uses five-year property tax exemptions  to leverage significant private investment that spurs economic activity in the community. 

• Enterprise Zone Program

State Incentive Programs

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 your property is in an urban renewal area:

1. Enter an address into our GIS Mapping tool.
2. Click on the Development link in the top navigation of the query results window.
3. Look at the information under Urban Renewal Area (URA). If your property is within a URA, it will display Property Eligible: Yes with the district listed below it.

 

To find out how we can help you with finance options, call us at 503-823-3442 or email Terri Morgan.