Conditions for loan approval.

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(a) The applicant is enrolled in a small business management program with a small business development center or certified entity;

(b) The applicant has prepared a business plan for the business, which has been reviewed by a small business development center or other entity certified by the department to review business plans; and

(c) The applicant is not effectively owned or controlled by another business entity or other person that, either by itself or when combined with the applicant, is not eligible for a loan under ORS 285B.740 to 285B.758.

(2) In addition to the requirements for loan approval described in subsection (1) of this section, in order to obtain a loan under ORS 285B.740 to 285B.758, an applicant must also satisfy one of the following conditions:

(a) The business must have annual revenues of $1,500,000 or less in the 12-month period immediately preceding the date of application.

(b) The business or proposed business must be owned, in whole or in part, by a person certified as having a severe disability by the Department of Human Services or the Commission for the Blind.

(c) The applicant must submit proof to the Oregon Business Development Department that the applicant is a veteran who:

(A) Has a United States Department of Veterans Affairs total disability rating of at least 70 percent as a result of an injury or illness that the veteran incurred, or that was aggravated, during active military service; and

(B) Received a discharge or release under other than dishonorable conditions. [1991 c.688 §8; 1997 c.147 §5; 2007 c.70 §72; 2007 c.804 §38; 2009 c.830 §132; 2010 c.106 §§3,7; 2011 c.558 §4; 2019 c.394 §1; 2020 s.s.2 c.10 §24]

Note: The amendments to 285B.746 by section 25, chapter 10, Oregon Laws 2020 (second special session), become operative, and apply to applications for loans filed on or after, January 1, 2025. See section 29, chapter 10, Oregon Laws 2020 (second special session), as amended by section 2, chapter 20, Oregon Laws 2021. The text that is operative on and after January 1, 2025, is set forth for the user’s convenience.
(1) The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that:

(a) The applicant is enrolled in a small business management program with a small business development center or certified entity;

(b) The applicant has prepared a business plan for the business, which has been reviewed by a small business development center or other entity certified by the department to review business plans; and

(c) The applicant is not effectively owned or controlled by another business entity or other person that, either by itself or when combined with the applicant, is not eligible for a loan under ORS 285B.740 to 285B.758.

(2) In addition to the requirements for loan approval described in subsection (1) of this section, in order to obtain a loan under ORS 285B.740 to 285B.758, an applicant must also satisfy one of the following conditions:

(a) The business must have annual revenues of $500,000 or less in the 12-month period immediately preceding the date of application.

(b) The business or proposed business must be owned, in whole or in part, by a person certified as having a severe disability by the Department of Human Services or the Commission for the Blind.

(c) The applicant must submit proof to the Oregon Business Development Department that the applicant is a veteran who:

(A) Has a United States Department of Veterans Affairs total disability rating of at least 70 percent as a result of an injury or illness that the veteran incurred, or that was aggravated, during active military service; and

(B) Received a discharge or release under other than dishonorable conditions.


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