Service Area

Baker County

Gilliam County

Grant County

Harney County

Lake County 

Malheur County

Morrow County

Sherman County

Umatilla County

Union County

Wallowa County

Wasco County

Wheeler County

 

 
For More Information 

Morrow Development Corporation 

P.O. Box 200

Boardman, OR 97818

541-676-8719

easternoregonbdf@gmail.com

Purpose of the Program
  • Establish new business.

  • Expand existing business.

  • Create employment opportunities.

  • Save existing jobs.

  • Develop community projects. 

 

 

What Is The Fund?

​This newly created fund from the Port of Morrow can provide long-term, fixed-rate financing for land, buildings, equipment/machinery, and permanent working capital.

 

 

How Much Can Be Borrowed?

Up to $500,000. This amount must be less than 75% of the total project cost. 

 

 

What Can The Dollars Be Used For?

​Loan proceeds must be used for business and economic development purposes. Loans may include (but are not limited to) the following:

  • Business acquisition, construction conversion, enlargement, repair, modernization, or development costs.

  • Purchasing and development of land, easements, right-of-way, building, facilities, leases, or material.

  • Purchasing of equipment, supplies, leasehold improvements, or machinery.

  • Transportation services.

  • Refinancing of debt. 

  • Start-up costs and working capital. 

  • Feasibility studies and any other reasonable fees and charges. 

 

 

Terms

Application Fee: $500 (Applied to processing fee.)

Processing Fee: 1%

Security: Negotiable

Interest Rate: Negotiable 

Loan Term: Negotiable 

 

 

Who Can Apply?

This loan fund is for the exclusive use of businesses located int he counties of Baker, Gilliam, Grant, Harney, Lake, Malheur, Morrow, Sherman, Umatilla, Union, Wallowa, Wasco, and Wheeler. Applicants must be a citizen of the United States of America, or legally admitted for permanent residence.

 

GIVING BACK TO THE ECONOMICES 
OF RURAL EASTERN OREGON

© 2015  Morrow Development Corporation

Created by Gregory Smith & Company, LLC