| What can our loan funds be used
for?
Loan
proceeds from the Revolving Loan Fund must be used for the
establishment of a new business, expansion of an existing
businesses, the creation of employment opportunities, saving
existing jobs or community development projects. Some examples
of potential loans may include:
-
business and industrial acquisitions, construction,
conversion, enlargement, repair, modernization or development
cost.
-
purchasing and development of land, easements,
rights-of-way, building, facilities, leases or
materials.
-
purchase of equipment, leasehold improvements, machinery or
supplies.
-
pollution control or abatement.
-
transportation services.
-
hotels, motels, tourist homes, bed and breakfast
establishments, convention centers, and other tourist/recreation
facilities and golf courses.
-
refinancing of debt.
-
startup operating costs and working
capital.
How much money can the program
loan?
Up to $40,000 or 75% of the total cost of
the project.
What kind of interest rates does our program
offer? 
A number of
factors determine the interest rate. They include borrower(s)
need, financial risk to the program, the community impact of the
project, private financial market conditions and the administrative
requirements of Wheeler County.
The rate of
interest is generally a fixed annual rate between 6.0% -
10.0%.
Guidelines on who can borrow from the loan
fund:
-
Borrower(s) must be citizens of the United States of
America or reside in the United States and be legally admitted for
permanent residence.
-
Borrower(s) must conduct significant business
activity in Wheeler County, Oregon.
-
Borrower(s) must be a for-profit, non-profit, or
charitable enterprise located in Wheeler County.
-
All
outstanding debt owed to Wheeler County, State of Oregon, or the
federal government must be current and paid as
agreed in order for our Borrower(s) to
qualify. 
How long does a Borrower have to pay back the
loan?
Terms are
generally set within the following guidelines:
-
Working
Capital, 1-5 years.
-
Permanent
Working Capital, 1-10 years.
-
Equipment
Loans, 1-15 years.
-
Real
Estate Loans, 1-20
years. | 
