MDC

Morrow Development Corporation

Revolving Loan Fund

Serving Morrow County Since 1994

Service Area

Morrow County

 

 

For More Information 

Morrow Development Corporation 

P.O. Box 200

Boardman, OR 97818

541-676-8719

 

 

How much can MDC loan my business?

MDC may lend up to $250,000, or up to 75% of an eligible project. 

 

 

Are there any preferences given?

Yes. MDC will give preference to those projects that create and/or retain jobs in Morrow County. MDC is always looking for entrepreneurs willing to develop a new idea or service. 

 

 

Are there projects that MDC is unable to finance? 
  • MDC is unable to fund agriculture production with the exceptions of aquaculture, commercial nurseries, forestry development, livestock and poultry processing and the growing of mushrooms.

  • Unless a loan keeps the business from closing, MDC will not fund a transfer of ownership.

  • MDC has historically not funded restaurants, nor fuel service stations.

  • Also, MDC is unable to fund community antenna television facilities, nor can MDC fund a business entity where more than 10% of the annual gross income is derived from legalized gambling. 

 

 

Who is eligible for a loan with MDC?

Applicants must be a private, for-profit, non-profit, or public enterprise located in Morrow County. Manufacturing, processing and commercial related projects are eligible for support and participation. Loans will be primarily made where there is a creation of new jobs or the retention of existing jobs. 

 

 

Intermediary Relending Program Goals:
  • Retain and create permanent family wage jobs. 

  • Coordinate public and private investments in community infrastructure, business and industry, job training and entrepreneurship to create significant, long-term employment opportunities. 

  • Strengthen the long-term economic health and potential of Morrow County. 

  • Support economic development, which enables Morrow County to retain and recirculate wealth created by the fund and complimentary activities.