Business Loans

Loan Funds Available Now for Businesses

 Getting back on track or moving to the next level can require additional funding. A real estate purchase, working capital to improve the cash flow cycle, hiring employees, equipment to expand operations may be part of your plan. You want to be smart about your next steps. We can help.

Structuring a low fixed rate loan with payback terms that work for your company is important.  COIC has provided financing for many popular and growing Central Oregon businesses over the years.  We view qualifying information more broadly in public lending. Simply, we help businesses get to where they want to go.

To find out more about COIC’s available loan programs, contact Patrick Germick 

 pgermick@coic.org or call 541-280-9611 

Did you know that COIC provides alternative loans for new or existing small businesses? These loans help create or retain job opportunities and / or to assist credit-worthy business owners who are unable to secure financing from other sources.

COIC alternative loans are intended to work in cooperation with conventional bank loans, or in some cases fully fund projects when bank financing is not available or can not be received on reasonable terms.

Our loan department staff is responsible for originating and servicing these loans, compliance with applicable federal program regulations, and managing fund balance sheets.


COIC Loan programs:

  • Economic Development Administration (EDA) revolving loan fund, available in Deschutes, Crook, and Jefferson counties;
  • USDA Intermediary Relending Program (IRP) revolving loan fund, available in the above counties plus Klamath, Malheur, Hood River, Sherman, Wasco, Lane, Douglas, Coos, Curry, Josephine, and Jackson counties;
  • Jefferson County revolving loan fund (origination and servicing only, as the fund is owned by the county);

Some loans can be funded directly by COIC as the only lender in 1st position or a COIC loan can be offered in conjunction with a bank loan (COIC in 2nd position). Thus, your project can be funded from three sources:
1) COIC loan           or        1) Bank Loan
2) Your Cash                      2) COIC loan
                                             3) Your cash

The COIC loan can fill the gap in your financing package, making it possible for your bank to provide a loan that it might not otherwise be able to make. Check the Loan Package Structure tab for your cash down payment.

COIC’s business loan programs provide financing packages for new and existing businesses. By using a COIC loan, your bank may be able to make a loan that could not be made otherwise. In some cases, projects can be financed exclusively by COIC, without a companion bank loan. For most businesses, the best place to start is with your bank loan officer. If your bank is unable to provide you with the financing you need, contact our loan officers for information on COIC financing options. Your banker can also contact us – we can do loans in cooperation with any lender. We’ll also discuss other public lending options that may be available for your business.

• Purchase an existing building
• Purchase land and construct a new building
• Purchase new or used equipment
• Working capital
• Business purchase may be eligible on a case-by-case basis
• Refinance of existing debt is eligible on a case-by-case basis
• Both start-up and existing businesses are eligible

Click this link below to go to our quick 12 questions. This simple form lets you tell us more of what is important to you and helps us to understand your goals. When we connect I can get right to the solutions that are specific to your needs.

Inquiry Link

Or you may  email pgermick@coic.org for the questionnaire 

    • Business History: one page summary of the management, goals, industry, marketing
    • Resumes of all owners, officers, principal stockholders
    • Business Plan
    • Business Financial Statements – 3 most recent years, signed
    • Current Interim Balance Sheet and Income Statement
    • Personal Financial Statements-individual sole proprietor, partners, shareholders
    • Complete Business & Personal IRS Tax Returns – 3 most recent years, signed
    • Cash Flow Projections or Projected Annual Income Statement – 2 years, signed
    • Articles of Incorporation & Bylaws, Partnership Agreement, and/or Assumed Business Name filing, with current members
    • Maximum loan size is generally $250,000 for the COIC portion of the project, although some exceptions apply allowing higher amounts. There is no project size limit
    • Minimum loan size is currently 5,000 in our micro lending program
    • Maximum loan term is 25 years for real estate and 7-10 years for all other loan purposes
    • Rates based on risk/collateral/loan position and generally range from 3.75% to 6.5%. Additional incentives available
    • Interest rate is fixed for the life of the loan, no prepayment penalty and at a below-market rate. 
    • Loan fee is 1.5% of the loan amount and can be included in the loan

      For existing businesses, a minimum 10% cash down payment is required
    • For start-up businesses, a 25%-30% owner cash injection is typically required
    • Typical loan structure: Bank loan, COIC loan, and borrower cash down payment or COIC and your cash down 
    • The COIC collateral lien will usually be subordinate to the participating bank’s lien position
    • COIC may require personal assets for collateral ( 2nd mortgage on a personal residence) and other business assets)

    • COIC loans are typically offered in conjunction done with a bank loan
    • In some cases, projects can be financed exclusively by COIC with no bank companion loan
    • COIC provides fully-amortizing, fixed rate loans with no prepayment penalty and does not offer lines of credit
    • All projects are required to create new job opportunities or retain existing jobs

    General resources for businesses and employees: Central Oregon SOS - Support for Employees and Employers

    SBA programs:


    OSU Innovation Lab

    Oregon State University Cascades Innovation Co-Lab

    Opportunity Knocks- A fantastic 

    Opportunity Knocks



    COIC Administration,  Community & Economic Development & Loans, and CET Hawthorne Station
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