Financing and Incentives

Financing a Starting Business

Almost all businesses require some form of financing. Finding funding to start a business can be a difficult process, and many start ups depend on credit cards, lines of credit and friends and family for their first foray into business ownership. Assuming a viable business plan, industry experience and collateral, there are resources that can help with financing a startup business. In some cases, a viable business may look for outside investors to help fund startup costs.

Besides traditional banks, Portland has a number of resources that may be able to assist with startup financing. Mercy Corps Northwest (MCNW) is a nationally recognized microfinance organization that offers small business loans in the Northwest. The MCNW loan program provides needed capital to qualified individuals who cannot obtain traditional bank loans in Washington and Oregon. Business Oregon offers the Entrepreneurial Development Loan Fund which provides direct loans to help companies get started in Oregon. The Portland Development Commission can help with gap financing when an eligible business is not able to obtain all the financing they need.

Additional information about financing a starting business can be found at the Small Business Administration site.