Serving Morrow County Since 1994
For More Information
Morrow Development Corporation
P.O. Box 200
Boardman, OR 97818
Purpose of the Program
Establish new business.
Expand existing business.
Create employment opportunities.
Save existing jobs.
Develop community projects.
What Is The Fund?
This fund 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.
Refinancing of debt.
Start-up costs and working capital.
Feasibility studies and any other reasonable fees and charges.
Application Fee: $500 (Applied to processing fee.)
Processing Fee: 1%
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.
The above are guidelines, the MDC Loan Committee, by a majority vote, can adjust these parameters.