Small Business Loans Oregon

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Small businesses play a huge role in Oregon’s economy. It makes up about 99.4% of all Oregon-based companies and supports over 800,000 employees. The biggest industries driving Oregon’s economy include agriculture, forestry, fishing, and tourism. 

 The Beaver State is also one of the many with plenty of business funding opportunities. In 2018 alone, Oregon processed 84,999 loans under $100,000 to small businesses. The state further supported small businesses during the COVID-19 pandemic when they issued 31,119 PPP loans with an average loan size of $97,000. 

 That said, there’s no shortage of business financing for companies looking for an additional cash flow boost in Oregon. If you find yourself in need of extra capital, we’ve got you covered. 

 Why Choose SMB Compass?

SMB Compass can help you get the funding you need without affecting your credit score. We offer a variety of financing options to fit your business's needs, and we can get you approved in as little as 24 hours.

Who We Are

SMB Compass is a leading provider of business financing services and solutions. We have helped over 1,250 businesses in the United States get the funding they need to grow. We understand the unique challenges that small businesses face, and we are committed to providing them with full access to the best possible financing options.

Get approved for a business loan quickly and easily.

Here are a few reasons to choose SMB Compass for your business financing needs:

  • We offer a variety of financing options to fit your business's needs

  • We can get you approved quickly and easily

  • We offer competitive interest rates and terms

  • We have a team of experienced professionals who can help you navigate the financing process

small business loans oregon

Small Business Loans Oregon: Get Approved Today Receive Funds Within 24 Hours!

Oregon-based businesses have a lot of options when it comes to small business loans. With that, they can rest easy knowing theirs is a viable financial solution to address their business needs.

Here are some of the best small business loans in Oregon. 

SBA Loans

The Small Business Administration (SBA) made government-backed SBA loans that offer up to $5 million in funding at low-interest rates for high-performance and promising small businesses. The loan’s proceeds can be used to invest in commercial real estate, purchase equipment, fund renovations, hire more employees, and more. The repayment terms for SBA loans can be up to 10 years for equipment-related purchases and 25 years for real estate. 

Business Term Loans

Business term loans provide businesses with a lump sum of cash upfront, repaid in fixed installments over a period or term. Term loan amounts can be up to $5 million with a repayment period of up to 20 years. With one, businesses can bridge gaps in cash flow, renovate properties, acquire a business, expand to another location, buy inventory, purchase equipment, and even refinance existing debt.  

Invoice Financing

Businesses with long payment cycles are especially prone to cash flow shortages. Invoice financing can be a viable solution for these companies, allowing them to use their customer invoices in exchange for advanced funding. 

 Instead of waiting 90 days for customers to pay their invoices, the financing company can advance the amount and even collect the payments for you at the end of the repayment terms. Once approved, SMB can advance around 80% to 95% of the total value of the invoices. With the small business loan proceeds, businesses can cover their day-to-day operating expenses, utilities, rent, and invest in other projects. 

Inventory Financing

Inventory business loans allow companies to borrow money against their inventory. Once approved, the businesses can get funding equivalent to 65% of their total inventory value. This type of financing also provides some flexibility so that companies can use it for any business initiative. 

Equipment Financing

Instead of digging into their cash reserves and risk cash flow issues, businesses can use equipment financing to acquire large equipment for their business. The equipment will act as collateral for the loan, so there’s no need to present another asset to secure the financing. 

 Given the self-securing nature of the financing, SMB Compass can fund up to 100% of the total value of the equipment. Although you can negotiate with the lender, the repayment period usually doesn’t exceed five years. 

Business Lines of Credit

A business line of credit allows businesses to draw from their credit line if needed. One thing that separates lines of credit from other loan products is that the borrowers only need to pay the amount they took from their credit line. Business lines of credit are also revolving, which means the company can draw money, repay the amount they borrowed, and draw money from the credit line again.  

 Businesses can get approved for an unsecured line of credit, or they may choose to secure the financing using different collateral (e.g., real estate, equipment, etc.). Secured lines of credit tend to have higher credit limits (up to $5 million), lower interest rates, and longer repayment periods. 

Small Business Loans: Eligibility Requirements

Ultimately, every lender will have different eligibility criteria for each business loan option. In general, you must demonstrate your repayment capability, creditworthiness, and experience in the field to increase your chances of qualifying for better loan terms. 

SMB Compass, however, can work with SMEs that can meet the following requirements:

  • Credit scores of 650

  • Monthly revenue of $20,000

  • A business history of at least one year

Small Business Grants in Oregon

Small business grants are an excellent way to earn free money to fund your business. While there are thousands of small business grants, the Specialty Crop Block Grant Program and SBA Export Promotion Program are two of the most popular grants business owners usually apply for.

Here are the details for each grant:

Specialty Crop Block Grant Program

Because agriculture plays a massive role in Oregon’s economy, the state launched a grant via the USDA to help Oregon farmers grow and sell crops competitively.

To be eligible for this grant, the business must be agricultural, cultivating fruits, vegetables, tree nuts, nursery crops, and turf-type grasses. The grant winner can receive a cash reward of $43,000 to $174,000, which they can put towards adopting new farming techniques or invest in any agricultural-related activities that will help improve the state’s (and country’s) agriculture industry.

SBA Export Promotion Program

Participating in trade shows – whether local or international – can be a helpful business strategy that will help companies gain more visibility in local and international markets. The SBA Export Promotion Program can help small businesses in Oregon participate in these trade shows by reimbursing a portion (up to 75%, capped at $10,000) of their costs in participating in trade shows.

According to the SBA, the trade show expenses eligible for reimbursement include:

  • Costs associated with the booth at the trade show (i.e., rental, equipment, booth construction supplies, etc.)
  • Trade show participation fees
  • Freight costs of equipment and/or exhibit materials to and from the trade show (capped at $2,000)
  • Gold Key or in-market assistance or meeting facilitation as provided by the U.S. Commercial Service
  • Ground transportation cost within the hosting locale
  • Registration fees for the U.S. Commercial Service export seminars, workshops, or presentations associated with given export activity
  • Per Diem for up to two US-based company employees for the duration of the event plus travel time up to one day before and one day after the actual event

Applications for the SBA Export Promotion Program should be submitted at least two months before the trade show date.

Ready to apply for a Business Loan?

Small business loans available in every city in Oregon