COIC provides alternative loans for new or existing small businesses. The loan department staff is responsible for originating and servicing these loans, compliance with applicable federal program regulations, and managing fund balance sheets.
COIC’s public loan programs are intended to work in cooperation with conventional bank loans or in some cases to fully fund projects when bank financing is not available (or not available on reasonable terms), and are intended to create or retain job opportunities and/or to assist credit-worthy business owners who are unable to secure financing from other sources.
COIC Loan programs:
Economic Development Administration (EDA) revolving loan fund, available in Deschutes, Crook, and Jefferson, counties;
USDA Intermediary Relending Program (IRP) revolving loan fund, available in the above counties plus Malheur, Hood River, Sherman, Wasco, Lane, Douglas, Coos, Curry, Josephine, and Jackson counties;
Jefferson County revolving loan fund (origination and servicing only, as the fund is owned by the county);
SBA 504 loan program, operated under contract by our sister organization, Oregon Business Development Corporation (OBDC), and available state-wide;
SBA Intermediary Lending Pilot (ILP), owned by OBDC and available state-wide.