In 2008, banks made 87,274 loans for less than $100,000 to Portland-area small businesses, according to data collected pursuant to the Community Reinvestment Act. By 2019, that had dropped 35% to 56,963 loans.
In dollar terms, Portland-area businesses got more than $1 billion in loans for less than $100,000 in 2008, but by 2019 that had dropped to $826.1 million.
Portland Business Journal
April 16, 2021
Oregon access to capital legislation advances
By Matthew Kish
- The legislation, as currently amended, would set aside $10 million of state money to fund loan loss accounts of qualifying lenders in order to increase “lending to business owners and entrepreneurs who currently lack access to capital to start or grow their businesses.”
- The money would be awarded through the Oregon Business Development Department after going through a formal request for proposal process.
- Also as part of the legislation: the Oregon Business Development Department would make loans up to $250,000 to eligible businesses out a separate $10 million fund.