Business loans listed by IVCDO
Amounts to $25,000 can be available
Illinois Valley Community Development Organization (IVCDO) has assumed management of the MicroBusiness Revolving Loan Program formerly run by the now-defunct SOWAC Microenterprise Development Center.
The program makes loans available to entrepreneurs and small businesses in Josephine County. Existing and start-up businesses are eligible, and those which have difficulty raising capital through conventional sources are especially encouraged to apply. The maximum loan is $25,000.
CJ Organization Takes Over Existing Program
IVCDO, based in Cave Junction, was chosen by USDA to administer the program based on a successful track record managing the I.V. MicroBusiness Revolving Loan Fund. In slightly more than seven years, IVCDO has loaned more than $394,000 to 63 Illinois Valley entrepreneurs.
Community Development Part of Objectives
Said IVCDO Executive Director Robert Schumacher, “We are gratified by the USDA’s vote of confidence, and look forward to expanding our service in order to further our mission to enhance living standards, create jobs and encourage sustainable community development.”
IVCDO’s pre-existing loan program offers business loans to I.V. residents “at attractive interest rates,” and has money available to lend. Assistance with loan applications, business counseling, assessments and referrals are available free of charge at the IVCDO office in Cave Junction.
Businesses and entrepreneurs interested in either of the two loan programs are urged by Schumacher to contact IVCDO at 592-4440 or BOBL@IVCDO.org.
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