Title 26A, Economic Development

As used in ORS 285B.651 to 285B.676, unless the context clearly requires another meaning: (1) “City” means a city, town or other community located in this state with a population of 2,500 or less. (2) “District association” means Oregon’s Economic Development Districts, an organi…

(1) The Oregon Business Development Department shall distribute moneys in the Oregon Rural Capacity Fund established under ORS 285B.676 to provide resources to Oregon’s Economic Development Districts for the purposes of assisting rural jurisdictions to learn about, successfully a…

The Oregon Business Development Department shall: (1) Develop the policy guiding the implementation of ORS 285B.651 to 285B.676. (2) Communicate the policy and the purposes set forth in ORS 285B.655 to underserved rural jurisdictions. (3) Determine the amount of moneys available …

solutions advisory committees; quarterly reports; member district hiring authority. (1) This section applies to a member district that receives moneys pursuant to ORS 285B.655. (2)(a) The member district shall expend the moneys solely to provide grant writing, grant administratio…

(1) Not later than September 15 of each year, the Oregon Business Development Department shall provide a brief report, in the manner required under ORS 192.245, to the interim committees of the Legislative Assembly related to economic development, that describes the activities th…

(1) The Oregon Rural Capacity Fund is established in the State Treasury, separate and distinct from the General Fund. Interest earned by the Oregon Rural Capacity Fund shall be credited to the fund. (2) Moneys in the fund consist of: (a) Amounts appropriated or otherwise transfer…

It is the intent of the Legislative Assembly that in the administration of ORS 285B.740 to 285B.758, the Oregon Business Development Department work closely with regional economic development organizations, community development corporations, small business development centers an…

(1) Any individual or business firm may file with the Oregon Business Development Department an application to borrow money from the Oregon Entrepreneurial Development Loan Fund as provided in ORS 285B.740 to 285B.758. The application shall be filed in such a manner and contain o…

(1) The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that: (a) The applicant is enrolled in a small business management program with a small business development center or certifie…

(1) The Oregon Business Development Department may approve an entrepreneurial development loan under ORS 285B.740 to 285B.758 if, after investigation, it finds that: (a) The loan has a reasonable prospect of repayment from cash flow and collateral and is secured by good and suffi…

(1) Beginning with the 2023 calendar year, the Oregon Business Development Department shall annually adjust the annual revenue limit amount specified in ORS 285B.746 (2)(a) and the total loan limit amount specified in ORS 285B.749 (2) by multiplying each amount by the percentage …

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Entrepreneurial Development Loan Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the following purposes: (a) Admini…

As used in ORS 285B.760 to 285B.763: (1) “Culturally responsive services” means services provided by an organization: (a) Whose founding mission and goals are aligned with the culture of the individuals, families, businesses and communities receiving the services; and (b) That de…

(1) The Oregon Business Development Department shall develop and implement an Economic Equity Investment Program under which the department shall award grants to organizations that provide culturally responsive services to support economic stability, self-sufficiency, wealth buil…

(1)(a) The Oregon Business Development Department shall conduct biennial evaluations of the services provided in the preceding 24-month period by organizations that are funded with grant moneys under the Economic Equity Investment Program developed and implemented under ORS 285B.…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Economic Equity Investment Fund. Interest earned by the Economic Equity Investment Fund shall be credited to the fund. (2) All moneys in the fund are continuously appropriated to the …

As used in ORS 285B.764 to 285B.775: (1) “Eligible business” means one of the following businesses as defined in ORS 200.005 that is operated for profit and has been certified by the Certification Office for Business Inclusion and Diversity under ORS 200.055 at the time an applic…

(1) The Oregon Business Development Department shall develop and implement a program to make loans to eligible businesses. (2) Loans made under the program may be for the following amounts: (a) For eligible businesses that have operated for less than two years, up to $100,000. (b…

(1) The Oregon Business Development Department shall prescribe the form and manner in which the owner of an eligible business may apply for a loan under the loan program developed and implemented under ORS 285B.768. (2) The application must, at a minimum, require the inclusion of…

(1) There is established in the State Treasury, separate and distinct from the General Fund, the Disadvantaged and Emerging Small Business Loan Fund. All moneys in the fund are continuously appropriated to the Oregon Business Development Department for the purposes of: (a) Paying…

(1) On or before September 15 of each year, the Oregon Business Development Department shall submit, in the manner provided in ORS 192.245, to the interim legislative committees related to economic development, a report containing the following information about the loan program …

It is the purpose of ORS 285B.780 to 285B.799 that the State of Oregon shall make awards to qualified lending institutions to fund lenders’ loan loss reserve accounts for the purpose of increasing lending to business owners and entrepreneurs who currently lack access to capital t…

As used in ORS 285B.780 to 285B.799, unless the context requires otherwise: (1) “Loan loss reserve account” or “account” means an account created by a lender for the deposit of moneys awarded to the lender under ORS 285B.787 out of which the lender may reimburse itself for losses…

(1)(a) The Oregon Business Development Department shall, in accordance with this section, make awards to lenders to fund the lenders’ loan loss reserve accounts. (b) The awards shall be made, through a competitive RFP process administered by the department. (c) Of the moneys awar…

(1) The Oregon Business Development Department shall enter into a written agreement with each lender that accepts an award offered under ORS 285B.787. (2) A written agreement entered into pursuant to this section must: (a) Provide for the creation of a loan loss reserve account b…

(1) Not later than July 31 of each year, each lender awarded moneys under ORS 285B.787 shall, during the term of the written agreement entered into under ORS 285B.791, provide a report to the Oregon Business Development Department, on a form prescribed by the department, for the …

(1)(a) A lender shall be released from any obligation under a written agreement entered into under ORS 285B.791, and may use for any purpose whatever any balance in the lender’s loan loss reserve account, if the lender has: (A) Performed under the written agreement entered into w…

On or before September 15 of each even-numbered year, the Oregon Business Development Department shall submit, in the manner required under ORS 192.245, to the interim committees of the Legislative Assembly related to economic development, a report that sets forth the following i…