We also use our funds to stimulate private lending by partnering with traditional lenders, coming in with a second smaller loan behind theirs. Essentially having two loans to finance a project. We allow the “lead” bank to be in first position on all collateral. By lowering their risk, we incent them to participate in a project they might not consider otherwise. Partnering with traditional lenders also allows us to stretch our dollars, allowing our funds to reach more people.
The loan funds go out to assist small businesses and as the loans are repaid, we have the ability to assist others in the same position. CWBL has a new collaborative partnership with Mid-Willamette Valley COG, Lane COG, and CCD Business Development Corporation to show benefits of the SBA504 Loan Program called Unity Lending.
Get clear, practical answers to the questions we hear most—how the process works, what you may need to apply, and what to expect after you reach out—so you can take your next step with confidence.
Businesses need to be located in Benton, Lincoln, or Linn Counties. We can refer you to similar programs for most Counties in the Willamette Valley. SBA 504 loans can be used anywhere in the State of Oregon. See our Unity Lending SBA 504 page.
For profit or not for profit businesses structured as sole proprietors, Limited Liability Companies, Corporations, and Partnerships. We support businesses from most sectors.
Funds can be used for small business purchases, renovation, or construction of commercial property, purchase of machinery or equipment, furniture and fixtures, and working capital.
Loan programs have a minimum of $25,000 and a maximum of $250,000 and may be used to cover up to 75% of the total project costs. When we partner with private lenders the typical scenario is private lender 50% of the project, CWBL 35-40% of the project, and the borrower coming in with 10-15%.
One Full Time Equivalent (FTE) per every $30,000 - $50,000 borrowed depending on the loan fund.
Rates are tied to the prime rate and can be anywhere from 0.25%-2.00% above prime depending on loan risk. The rate will be fixed for the term of the loan.
The term of a fixed asset loan will not be greater than the average useful life of the assets being purchased. Terms typically will not exceed 15 years. The term of a working capital loan will not exceed 5 years.
Yes, all projects will be collateralized to the greatest extent possible. Personal guaranties are also required of all 20% or more owners of the business. In most cases assignment of a life insurance policy is required on sole proprietorships and single member LLC’s.
An application fee of $300 - $500 (depending on program) collected at time of application. A loan fee of 1.50% on the amount borrowed. The borrower pays all third-party processing and closing costs. Loan payments are collected via ACH and there is a $12.00 monthly fee.
No. We encourage borrowers to pay off or refinance with a traditional lender as soon as they are able. This replenishes the program funds so we can help others like yourself.A loan fee of 1.50% on the amount borrowed. The borrower pays all third-party processing and closing costs. Loan payments are collected via ACH and there is a $12.00 monthly fee.
The Loan Program Advisory Committee (LPAC) is responsible for advising the Cascades West Business Lending (CWBL) staff and the OCWCOG Board of Directors on matters relating to the development and operation of the CWBL program.
The LPAC membership consists of the Board of Directors’ Executive Committee and a commercial banking lending professional, or an individual involved in economic development within the OCWCOG Region. Non-OCWCOG Executive Committee members serve a two (2)- to six (6)-year term. Former Committee members are eligible for reappointment when at least one (1)-year has lapsed after completion of the maximum six (6)-year term. The Committee may nominate to the OCWCOG Board of Directors persons to fill vacant positions for partially completed terms, when necessary.
Commissioner, Benton County
Commissioner, Lincoln County
Commissioner, Linn County
Mayor, City of Albany
City Councilor, City of Waldport
Pending Board Meeting on 12/04
Mayor, City of Corvallis
OCWCOG LPAC Virtual Special Meeting
LOAN PROGRAM ADVISORY COMMITTEE MEETING
Thursday, December 04, 2025
4:00 – 4:30 pm
Via Teams by clicking HERE
Meeting ID: 280 668 329 957
Passcode: 4zoASx
Mobile Call-in Number:
1-872-242-8088
Phone Conference ID: 981 775 138#
If you wish to attend as a member of the public, you can call or video in. If you require additional accommodations, or need assistance with Teams, please reach out to Ashlyn at amuzechenko@ocwcog.org. Stakeholders and members of the public are welcome to attend any Loan Program Advisory Committee (LPAC) meeting and provide public comments.
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Reach out to OCWCOG Small Business Lending to connect with resources, reconnect with our staff, partner with financial experts, and much more.
