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PDC Small Business Program
    S ll B i       P



                                                Fred Atiemo
                      Portland Development Commission




    APNBA Business District Association Conference – June, 2008   1
PDC Business Finance Program

                                                                                   Urban Renewal Area
                                            Area Specific Programs
  City-Wide Programs
                                                                                       Programs



EDA                                                  Hatfield                    QJP
           NEF                                                                              EOF
                     EDGLF                                                                              DTIF




                                                                                            Start-Up
          Start-Ups                                    Start-Up
                                                                                 Business Retention & Expansion
Business Retention & Expansion              Business Retention & Expansion
                                                                   p
                                                                                  Neighborhood Revitalization
                                                                                  N i hb h d R it li ti
 (Working Capital, Equipment                 Neighborhood Revitalization
           Purchase, etc.)                                                          Real Estate Development




                            APNBA Business District Association Conference – June, 2008                     2
Business Finance Objectives

“Gap Financing” Through:
 Gap Financing

  Job Creation

  Wealth Creation

  Neighborhood Revitalization



        APNBA Business District Association Conference – June, 2008   3
Quality Jobs Program

A flexible loan program designed to stimulate investment
                pg          g
and quality job growth.

Capital Investment – Physical improvements to the
property within the Urban Renewal.

Business must pay a minimum of 2x Oregon’s minimum
                                  Oregon s
wage.

75% of revenues must be business-to-business (Waived
                          business-to-business.
for small businesses; award reduced by 50%).


          APNBA Business District Association Conference – June, 2008   4
Economic Opportunity Fund
Incentive funds (grant) to stimulate private investment of
physical development of commercial buildings in URAURA.
75% of revenues must be business-to-business.
                         business-to-
(Waived for small businesses; award reduced by 50%).
No retail or speculative commercial development; must
occupy at least 75% of building.
    py                        g
Maximum Economic Opportunity Fund $100,000.
Grant
G t amount cannot exceed the QJP or DTIF loan.
         t      t      d th              l



           APNBA Business District Association Conference – June, 2008   5
DTIF Loan Program

Used only for physical improvements.
        y     py         p

Max loan: $1 million.

Repayment: Interest
only for first 2 years.

One job for every
$25,000 loaned.

Owner user.


            APNBA Business District Association Conference – June, 2008   6
Hatfield Loan Program

For small business in the inner N/NE neighborhoods –
                                        g
(Burnside to Columbia; 42nd to Greeley).

Maximum loan amount: $500,000

One job for every $25,000 loaned.

Eligible for working capital, equipment purchase, real
estate purchase, and bank loan guarantee.

Borrower must occupy at least 75% of space.


          APNBA Business District Association Conference – June, 2008   7
E D A Loan Program
Citywide program designed to assist small businesses.

Maximum loan amount: $150,000 ($250,000 for R/E).

One job for every $25,000 loaned.

Eligible for working capital, equipment purchase, and
real estate acquisition.

Borrower must occupy at least 75% of space
                                     space.



          APNBA Business District Association Conference – June, 2008   8
Economic Development General Loan Fund

Citywide program designed to spur business
   y     pg           g       p
development in distressed neighborhoods.

Maximum loan amount: $300,000.
                     $300 000

One job for every $25,000 loaned.

Eligible for working capital, equipment purchase, and
real estate acquisition.

Borrower must occupy at least 75% of space.

          APNBA Business District Association Conference – June, 2008   9
Near Equity Fund
Citywide program - hybrid between equity and debt.
   y     pg         y              qy

Business must be existing for at least 2 years.

Designed for businesses with 20 or less employees.

Maximum l
Mi      loan amount: $50 000
                  t $50,000.

Designed for working capital and equipment purchase.
    g              g




          APNBA Business District Association Conference – June, 2008   10
Loan Rating
Hard Rating:
  Business Management Experience
  Industry Experience
  Repayment Ability
  Credit / Character
  Collateral

Soft Rating:
  Leverage of PDC Dollars
  Business Conditions
  Other Public Benefits

         APNBA Business District Association Conference – June, 2008   11
Business Finance Program
                                 FY 2000 th
                                          through 2007
                                                h
Number of businesses assisted: 327

Total resources deployed: $67 million

    Percentage to small business: 85% (approx.)

Total private dollars attracted: $390 million

Number of jobs projected: 12,000 (approx.)
       (8/15/07)



             APNBA Business District Association Conference – June, 2008   12

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Apnba June 2008 Conference Atiemo

  • 1. PDC Small Business Program S ll B i P Fred Atiemo Portland Development Commission APNBA Business District Association Conference – June, 2008 1
  • 2. PDC Business Finance Program Urban Renewal Area Area Specific Programs City-Wide Programs Programs EDA Hatfield QJP NEF EOF EDGLF DTIF Start-Up Start-Ups Start-Up Business Retention & Expansion Business Retention & Expansion Business Retention & Expansion p Neighborhood Revitalization N i hb h d R it li ti (Working Capital, Equipment Neighborhood Revitalization Purchase, etc.) Real Estate Development APNBA Business District Association Conference – June, 2008 2
  • 3. Business Finance Objectives “Gap Financing” Through: Gap Financing Job Creation Wealth Creation Neighborhood Revitalization APNBA Business District Association Conference – June, 2008 3
  • 4. Quality Jobs Program A flexible loan program designed to stimulate investment pg g and quality job growth. Capital Investment – Physical improvements to the property within the Urban Renewal. Business must pay a minimum of 2x Oregon’s minimum Oregon s wage. 75% of revenues must be business-to-business (Waived business-to-business. for small businesses; award reduced by 50%). APNBA Business District Association Conference – June, 2008 4
  • 5. Economic Opportunity Fund Incentive funds (grant) to stimulate private investment of physical development of commercial buildings in URAURA. 75% of revenues must be business-to-business. business-to- (Waived for small businesses; award reduced by 50%). No retail or speculative commercial development; must occupy at least 75% of building. py g Maximum Economic Opportunity Fund $100,000. Grant G t amount cannot exceed the QJP or DTIF loan. t t d th l APNBA Business District Association Conference – June, 2008 5
  • 6. DTIF Loan Program Used only for physical improvements. y py p Max loan: $1 million. Repayment: Interest only for first 2 years. One job for every $25,000 loaned. Owner user. APNBA Business District Association Conference – June, 2008 6
  • 7. Hatfield Loan Program For small business in the inner N/NE neighborhoods – g (Burnside to Columbia; 42nd to Greeley). Maximum loan amount: $500,000 One job for every $25,000 loaned. Eligible for working capital, equipment purchase, real estate purchase, and bank loan guarantee. Borrower must occupy at least 75% of space. APNBA Business District Association Conference – June, 2008 7
  • 8. E D A Loan Program Citywide program designed to assist small businesses. Maximum loan amount: $150,000 ($250,000 for R/E). One job for every $25,000 loaned. Eligible for working capital, equipment purchase, and real estate acquisition. Borrower must occupy at least 75% of space space. APNBA Business District Association Conference – June, 2008 8
  • 9. Economic Development General Loan Fund Citywide program designed to spur business y pg g p development in distressed neighborhoods. Maximum loan amount: $300,000. $300 000 One job for every $25,000 loaned. Eligible for working capital, equipment purchase, and real estate acquisition. Borrower must occupy at least 75% of space. APNBA Business District Association Conference – June, 2008 9
  • 10. Near Equity Fund Citywide program - hybrid between equity and debt. y pg y qy Business must be existing for at least 2 years. Designed for businesses with 20 or less employees. Maximum l Mi loan amount: $50 000 t $50,000. Designed for working capital and equipment purchase. g g APNBA Business District Association Conference – June, 2008 10
  • 11. Loan Rating Hard Rating: Business Management Experience Industry Experience Repayment Ability Credit / Character Collateral Soft Rating: Leverage of PDC Dollars Business Conditions Other Public Benefits APNBA Business District Association Conference – June, 2008 11
  • 12. Business Finance Program FY 2000 th through 2007 h Number of businesses assisted: 327 Total resources deployed: $67 million Percentage to small business: 85% (approx.) Total private dollars attracted: $390 million Number of jobs projected: 12,000 (approx.) (8/15/07) APNBA Business District Association Conference – June, 2008 12