Struggling to secure traditional bank financing for your minority-owned business in Oregon or southwest Washington? The Oregon Association of Minority Entrepreneurs Credit Corporation
(OAMECC) can help! We offer SBA loans specifically designed to address the unique challenges faced by minority entrepreneurs.
OAMECC is here to empower your minority-owned business in Oregon and SW Washington. We offer a variety of resources, including SBA loans (A/R and Term Loans) to address your current financial needs, along with expert business counseling to equip you for future success. Our program is built on the understanding of the specific challenges you face, and we’re dedicated to helping you overcome them.
Want to learn about our loan options? Well, our SBA loan options cover two selections to fit your business needs. We have A/R Loans that are ideal for short-term gaps in working capital while waiting for client payments, allowing you to borrow up to 80% of an invoice value with amounts ranging from $500 to $50,000. For longer-term financing needs for equipment, expansion, or other ventures, we offer Term Loans with terms of 12 to 36 months and amounts ranging from $500 to $50,000 – both options with a competitive annual interest rate of 5%.
To qualify for an OAMECC SBA Loan, your minority-owned business must be located in Oregon or southwest Washington, have been operating for at least 6-12 months as a for-profit business, and be unable to secure traditional financing. Additionally, all applicants must attend an OAME Access to Capital Orientation (contact OAME if outside the Portland area).
To sum it up! To apply for an OAMECC SBA Loan, start by attending the Access to Capital Orientation to gain insights into the process and application requirements. Next, gather all the documents listed on the application checklist. If you need assistance with your business plan, don’t hesitate to reach out to SCORE, Portland State Business Outreach, or your nearest SBDC. Be aware that businesses located in Clark County (SW Washington) will need to provide additional documentation along with proof of address. Finally, remember that loan funds cannot be used for real estate purchases, debt repayment, or refinancing.
Don’t let short-term cash flow gaps or lack of traditional financing hold you back! OAMECC’s SBA Loans offer a chance to bridge those gaps, invest in equipment, or fuel expansion. Take your business to the next level – contact OAME to learn more about SBA loans and how they can benefit you.
Contact Information:
Phone: 503-249-7744
Email: [email protected]
Website: https://oame.org/