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Business Oregon outlines lending programs, SSBCI and Oregon Inc. support for startups and manufacturers
Summary
Business Oregon presented its lending programs, State Small Business Credit Initiative allocation, and Oregon Inc. innovation investments, describing loan programs, SSBCI allocation ($83.5M), university partnerships and Centers of Innovation Excellence.
Business Oregon staff described a suite of lending and innovation programs to the joint Ways and Means committee on March 17, walking lawmakers through direct loans, loan participation, federal SSBCI funds and Oregon Inc. investments.
Kate Zinner, Innovation and Business Resources director, told co‑chairs that Business Oregon administers roughly 30 initiatives in the Innovation and Business Resources section with a biennial operational budget around $240 million. The agency highlighted four legacy and newer loan programs: the Oregon Business Development Fund (created in 1984), two earlier‑stage loan products and a loan participation program that purchases roughly half of certain loans to reduce lender risk.
Zin…
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