Business Finance

Coastal Fitness
Coastal Fitness in Florence received a loan through LCOG's Business Finance Program.
LCOG’s Business Finance Program assisted many small businesses within Lane County to obtain capital for economic development and job creation. This program helps new and existing businesses take advantage of numerous federal, state, and local government loan programs. LCOG currently has access to 12 different loan types, which allows financing to be tailored to each borrower’s specific needs.

Available loans function as gap financing when a small business is unable to obtain funding from conventional bank sources. These government loans offer three key advantages to small business borrowers:
  • Attractive, long-term, fixed interest rates;
  • Low down payment; and
  • Improved access to capital.

In 2002, LCOG assisted small businesses with 35 new loans, which enabled those small businesses to create or save more than 300 jobs within Lane County. This represented an increase over the 24 loans and 275 jobs from the previous year. Staff accomplished this increased level of service while simultaneously decreasing FTE dedicated to this program from 2.5 to 2.0.

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