Oregon
Rule Rule 123-091-0015
Criteria for OBEP Fund Loan


In order to be eligible for a loan from the OBEP Fund, the Department must first find:

(1)

That, at the time a loan from the OBEP Fund is considered for approval, the Business:

(a)

Has at least 150 employees as demonstrated by documentation determined to be acceptable by the Department;

(b)

Is a traded sector business, as defined in ORS 285A.010;

(c)

Is not a retailer, as defined in ORS 72.8010;

(d)

Plans to hire at least 50 full-time Eligible Employees before the end of the two calendar years following the year in which the OBEP loan is approved;

(e)

Has stated to the Department that a loan from the OBEP was an integral factor in the Businesss decision to hire at least 50 full-time Eligible Employees; and

(f)

Has provided all information to the Department as requested and as required by the Oregon Business Retention and Expansion Program;

(2)

That the Businesss proposed expansion will result in significant, long-term economic benefit in the region and will serve as a catalyst for additional economic development benefits in the state.
Source
Last accessed
Dec. 9, 2019