Industrial Development Revolving Loan Fund

The Industrial Development Revolving Loan Fund provides financing for land, buildings, fixed equipment and machinery, research, and development to eligible businesses.

Eligible Businesses

  • Convention facilities, trade centers, and tourism facilities
  • Development or improved utilization of natural resources
  • Manufacturing or other industrial production
  • Research and development activities
  • Sewer, water, or other utilities necessary for business development
  • Transportation or freight facilities
  • Other activities which represent new technology or types of economic enterprises which meet community development needs and which diversify the economic base of the area

Loan Terms

Loan terms and interest rates are negotiable between the applicant and the City, with these considerations:

  • The repayment term cannot exceed 15 years, and the interest rate cannot be less than 5% per year.
  • The maximum allowable loan to any applicant is 1/3 of the project cost, up to $125,000.
  • All loans are subject to the review of and approval by a loan review committee and the Grants Pass City Council.

Documents

Contact Us

  1. Susan Seereiter


    Business Advocate
    Email Susan Seereiter
    Ph: 541-450-6014

    101 NW A Street
    Grants Pass, OR 97526

    Hours


    Monday - Friday
    8 a.m. - 5 p.m.