Prosper Portland Business Finance Programs
Contact the Lending Team via email or 503-823-3442
With a mission to create economic growth and opportunity for Portland, Prosper Portland connects you to resources to create more jobs for Portland. We work with Portland businesses to identify business needs and eligibility for either our assistance programs or those of our partners, and then help you find the program that fits best.
Prosper Portland offers:
- A variety of flexible loans to meet your unique business or property needs
- Flexible repayment terms tailored to help you ramp up and stabilize your business or commercial property
- Business support through Prosper Portland’s Inclusive Business Resource Network (IBRN)
- The ability to combine Prosper Portland loans and grants to make your project a reality
- Potential partnership with your primary lender to bridge a financing gap
- Dedicated and experienced staff to help you navigate the process
We also connect you to the Portland Enterprise Zone program, efficiency improvement programs, and state and federal incentives.
Available Citywide
Available in TIF Districts
Loan Details
| LOAN AMOUNT | $25,000 to $250,000 |
| ELIGIBLE USES | Working capital, equipment purchase, property acquisition |
| INTEREST RATE | A fixed rate of 5.25% to 8.25% |
| FEE | 2% of loan amount |
| TERM & AMORTIZATION | Up to 7 year term and amortization for working capital and equipment; property acquisitions up to 10 year term with 20 year amortization |
| PAYMENTS | Principal and interest payments; may include up to 2 years of interest only payments |
| BORROWER’S CONTRIBUTION | Existing businesses must inject at least 10% of project cost; startup businesses must inject at least 20% of the project cost |
| SECURITY/COLLATERAL | Security interest in real property, business assets, and/or personal property |
| GUARANTEE | Personal and/or corporate guaranties from all principals and entities with 20% ownership interest in the business. |
| LOAN AMOUNT | $25,000 to $2 million |
| ELIGIBLE USES | Physical improvements of real property in leased or owner-occupied properties or spaces (if owned, must be at least 50% owner-occupied; up to 49% of the loan funds may be used for acquisition). |
| INTEREST RATE | A fixed rate of 5.25% to 8.25% |
| FEE | 2% of loan amount |
| TERM & AMORTIZATION | Up to 10 year term and amortization, but not greater than term of lease plus all extension options |
| PAYMENTS | Principal and interest payments; may include up to 1 year of interest only payments |
| BORROWER’S CONTRIBUTION | No minimum |
| SECURITY/COLLATERAL | Security interest in real property, business assets, and/or personal property |
| GUARANTEE | Personal and/or corporate guaranties of all principals and entities with at least a 20% ownership interest in the business |
| LOAN AMOUNT | $25,000 to $200,000 |
| ELIGIBLE USES | Predevelopment costs for the development of commercial or mixed-use projects (financing feasibility, architectural, engineering, and environmental) |
| INTEREST RATE | A fixed rate of 5.25% |
| FEE | 1% of loan amount |
| TERM & AMORTIZATION | Up to 24 months |
| PAYMENTS | Deferred, balloon payment at term (refinanced by construction financing or repaid if project does not proceed) |
| BORROWER’S CONTRIBUTION | At least 50% of predevelopment cost, but minimum of 25% cash |
| SECURITY/COLLATERAL | Security interest in the property and/or interest in the work product |
| GUARANTEE | Personal and/or corporate guaranties of all principals and entities with at least a 20% ownership interest in the development entity |
| LOAN AMOUNT | $50,000 to $2 million |
| ELIGIBLE USES | Construction or renovation of commercial and mixed-use projects |
| INTEREST RATE | A fixed rate of 5.25% to 8.25% |
| FEE | 1% of loan amount |
| TERM & AMORTIZATION | Construction – up to 48 months (including 24 months for stabilization) Permanent- Term up to 10 years, with up to 25 year amortization |
| PAYMENTS | Construction – Interest-only; may include period of deferred payments Permanent – Principal and interest |
| BORROWER’S CONTRIBUTION | At least 10% of projects cost as borrower’s equity contribution |
| SECURITY/COLLATERAL | Interest in the subject property or other real estate |
| GUARANTEE | Personal and/or corporate guaranties of all principals and entities with at least a 20% ownership interest in the development entity |
| LOAN AMOUNT | $25,000 to $50,000 |
| ELIGIBLE USES | Funds may be used for working capital, equipment purchases and business growth/expansion |
| MINIMUM TIME IN BUSINESS | No minimum, but business must have an existing history of recurring sales |
| INTEREST RATE | A fixed rate of 8% to 12% |
| PAYMENTS | Principal and interest; May include up to one year of interest only payments |
| LOAN TERM | Up to 10 years, not including the interest only period |
| LOAN FEE | 2% of amount borrowed (fee may be rolled into the loan) |
| PERSONAL GUARANTEE | Personal and/or corporate guaranties from all principals and entities with 20% ownership interest in the business |
| COLLATERAL | Blanket UCC filing on company assets; UCC on specific equipment purchased with loan proceeds. If the business owner has and will provide real estate collateral, initial loan interest rate will reflect decreased risk. |
| BORROWER CREDIT | Borrower and principals of company must not have unpaid tax liens or bankruptcies in the last seven years without written explanation acceptable to Prosper Portland. Any collections, charge-offs or past due payments over 60 days must have written explanation acceptable to Prosper Portland. |
| BUSINESS MANAGEMENT AND INDUSTRY EXPERIENCE | Borrower should demonstrate sufficient business management and industry experience. |
- Do you need capital to grow your business?
- Are your products and services offered both in and outside of Oregon?
- Do you have a commitment to racial equity and ensuring it’s reflected in your business culture?
Prosper Portland’s new Creating Opportunity Loan program, focused on businesses in Portland that sell their services and products outside of Portland, may be the solution for you.
- Available citywide
- Amounts range from $50,000 to $250,000, with a loan term up to 10 years
- The use of funds is flexible to support the needs of your business
- The interest rate can be reduced by up to 5.00% if you successfully incorporate a racial equity strategy in your workplace.
- Available for businesses that have been turned down by a bank
- Entrepreneurs of color and women-owned businesses are encouraged to apply
To learn more about accessing this exciting new program, contact one of our loan officers.
Contact the lending team via email or 503-823-3442
- Are you struggling to attract venture capital for your fast-growing business?
- Would your business benefit from more flexible loan repayment terms?
- Are your products and services offered both in and outside of Oregon?
- Are you committed to racial equity and ensuring it’s reflected in your business culture?
Prosper Portland’s new Revenue Based Financing program, focused on businesses in Portland that sell their services and products outside of Portland, may be just what your business needs.
- Available citywide
- Amounts range from $55,000 to $250,000, with a loan term up to 5 years
- The use of funds is flexible to support the needs of your business
- Payments fluctuate based upon gross revenue generated by your business. They move up and down with your revenues, making your financing a variable cost rather than a fixed cost to your business.
- Up to 10% of the total interest on the loan may be forgiven if you incorporate a racial equity strategy in your workplace.
- Available for businesses that have been turned down by a bank
- Entrepreneurs of color and women-owned businesses are encouraged to apply
To learn more about accessing this exciting new program contact one of our loan officers. Entrepreneurs of color and women-owned businesses are encouraged to apply.
Contact the lending team via email or 503-823-3442
Local Small Business Repair Grant
The Local Small Business Repair Grants use existing tax increment funding (TIF) resources and funding allocated by City Council to provide near-term support for small businesses impacted by the pandemic.
Portland Small Business Relief Fund
City Council allocated $15 million in federal CARES Act relief to Prosper Portland to distribute to small business via the Small Business Relief Fund and block grants to community nonprofits.
Community Livability Grant
The CLG program prioritizes projects that benefit communities of color or people with low incomes, and that promote widely shared prosperity.
Thriving Small Business Loan Program
The Thriving Small Business loan program, which has been structured to address access-to-capital issues faced by underrepresented populations, including businesses owned by women and people of color and businesses owned by those in low-income areas.
Prosper Portland Business Finance Programs
Prosper Portland works with Portland businesses to identify business needs and eligibility for either our assistance programs or those of our partners.
Commercial Property Redevelopment Loan Program
The Commercial Property Redevelopment Loan Program provides financial assistance for property development or rehabilitation that furthers economic development in commercial areas or on commercial corridors.
Enhabit Financing Partnership
Enhabit offers home upgrades like seismic strengthening, energy efficiency, radon and solar panels
PropertyFit Financing
PropertyFit offers long-term financing for energy efficiency and renewable energy-related building improvements.
Startup PDX Challenge
The Startup PDX Challenge (2013-2015) focused on supporting entrepreneurs with diverse founding teams and the ambition to scale to a national or international market.
Inclusive Business Resource Network
The Inclusive Business Resource Network (IBRN) is a citywide program that brings multiple services for small business into a single network for entrepreneurs.
Inclusive Startup Fund
The fund provides early-stage investment capital and mentoring to local high-growth companies founded by underrepresented groups across a variety of industries.
Prosperity Investment Program (PIP)
PIP Grants are awarded to support business competitiveness and/or property redevelopment in projects that meet social equity goals.
