Loan Programs Offering Loans Under $150,000

GEODC's financing products are designed to fill the gap that often exists between traditional financing and borrower equity. Working with a local commercial lender and a borrower, GEODC provides the missing piece of the finance puzzle.

GEODC's funding sources and nonprofit nature allow it the flexibility to provide rates and terms favorable to the borrower.

Creating and retaining local jobs is fundamental to GEODC's lending decisions. GEODC can help if you need a loan for working Capital or fixed assets.

Loan Types (Click a loan for more information)
General Business Purpose Loans  IRP Loans EDA Loans	Loans Under $10K   Native American Entrepreneur RLF   Regional Strategies Loans

Intermediary Relending Program (IRP) - Revolving Loan Program The U.S. Department of Agriculture and Greater Eastern Development Corporation address the special financing needs of businesses in Oregon's eastern counties through the Intermediary Relending Program (IRP). The USDA's Office of Rural Development loans money to GEODC, which then re-lends it to small businesses in designated enterprise communities in Eastern Oregon . In addition to IRP funds, the borrower and a commercial lender also contribute toward overall project financing. In keeping with GEODC's original intent, primary emphasis is placed on using IRP loans to create employment opportunities and preserve existing jobs. Eligibility for IRP funding was expanded this past year following a 1998 revision from the USDA in response to needs expressed by rural communities to include a much wider range of businesses. Eligibility has now been extended to hotels, motels, bed and breakfast inns, recreation and tourist-related facilities, commercial fishing and educational opportunities. To find out more information on the IRP Loan, Contact Greater Eastern Development Corporation. To speak with a loan officer in more detail, submit some brief information on our contact us page inquiry or call (541) 276-6745 in Pendleton.  GEODC Loan Application      Economic Development Administration Revolving Loan Fund     Regional Investment Boards in Eastern Oregon have designated funds to be lent to small businesses. These funds are administered by GEODC in Revolving Loan programs.  Loan Proceeds cannot exceed 1/3 of the total project costs. Funds may be used for the following purposes:  · Fixed Assets · Land/Building Acquisition  · Equipment, Fixtures and/or Machinery Purchase  · Inventory, Supplies and Working Capital.  The loan range from $5,000 to $100,000 and have competitive interest rates and terms.  To speak with a loan officer in more detail, submit some brief information on our contact us page inquiry or call (541) 276-6745 in Pendleton. GEODC Loan Application       Microbusiness  Microbusiness Loans   Need a Business Loan? GEODC administers loan programs for financing under $10,000.   We can help if your bank can't... The objective of this fund is to enhance and encourage business expansions, retentions and start-ups, which in turn will create new job opportunities in rural Eastern Oregon .  It is difficult for microbusinesses to obtain financing from financial institutions for very small amounts. Several businesses have used high interest rate credit cards for start-up capital and then found themselves paying only enough to service fees and interest. The loan fund will provide businesses with an alternative that better fits their business needs for capital. Businesses eligible for traditional financing do not qualify for funding through the Microbusiness funding program. Businesses will need to demonstrate adequate cash flow for debt service and provide job retention and creation information. What are the requirements?...  Unlike regular bank loans, GEODC judges applicants on their character - not on their collateral. Businesses over one year old that can demonstrate professionalism, satisfactory credit and positive cash flows but may not have profit levels that are necessary for conventional banking may meet the general qualifications!  To speak with a loan officer in more detail, submit some brief information on our contact us page inquiry or call (541) 276-6745 in Pendleton. GEODC Loan Application        Native American Entrepreneurial Revolving Loan Fund      The U.S. Department of Agriculture and Greater Eastern Development Corporation address the special financing needs of Native American businesses on the Umatilla and Burns-Paiute Reservations and have developed the Native American Entrepreneurial Revolving Loan Fund. The USDA’s Office of Rural Development granted money to GEODC, which then re-lends it to small businesses in designated enterprise communities. In addition to NEERLF funds, the borrower and a commercial lender also contribute toward overall project financing.    The borrower may be required to take a business owner training course offered by CTUIR.   To speak with a loan officer in more detail, submit some brief information on our contact us page inquiry or call (541) 276-6745 in Pendleton. GEODC Loan Application     Regional Strategies Revolving Loan Funds    Regional Investment Boards in Eastern Oregon have designated funds to be lent to small businesses. These funds are administered by GEODC in Revolving Loan programs.  Loan Proceeds may be used for the following purposes:  · Fixed Assets · Land/Building Acquisition · Equipment, Fixtures and/or Machinery Purchase · Inventory, Supplies and Working Capital. The loan range from $1,000 to $100,000 and have competitive interest rates and terms.  To speak with a loan officer in more detail, submit some brief information on our contact us page inquiry or call (541) 276-6745 in Pendleton.         GEODC Loan Application