Thriving Small Business Loan Program – Portland, OR
The Thriving Small Business Loan Program was created by Prosper Portland, the economic and urban development agency for the city, to address barriers to accessing capital for women and BIPOC and business owners in low-income areas. The program connects entrepreneurs with targeted business support services such as business coaching, legal assistance, and classes. In addition, the program provides flexible financing and provides rewards to startup and early-phase companies that participate in technical assistance programs. The loan program provides up to 100% financing for small businesses and interest rate reduction of up to 5% for borrowers who successfully complete technical assistance programs during the term of the loan (2.5% reduction for completing 15 hours of technical assistance, balance upon completing 30 hours).