COIC Offers Loans To Help CO Businesses After Pandemic Restrictions

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BEND, Oregon (KTVZ) – The Central Oregon Intergovernmental Council (COIC) is moving to the next phase of offering revolving loans to help businesses.

As we move beyond the constraints of the pandemic, many businesses need capital to grow or rebuild a solid financial footing. The government lending program assists both new and existing companies that may be struggling to obtain traditional bank financing.

The loan program includes working capital, equipment financing or commercial real estate. Loan terms are extremely flexible and structured to meet the needs of businesses to promote economic growth or stability when starting a business.

Loans range from $ 5,000 to $ 250,000. COIC may offer small business loans in Central Oregon, including all communities in Crook, Deschutes and Jefferson counties.

According to Scott Aycock, Director of CED, “The COIC Small Business Loan Program is a great resource for entrepreneurs and small business owners who have a great business plan and growth potential but may lack the experience, collateral, or other factors required banks. We strive to meet the needs of underserved borrowers and strongly encourage business owners to call us even if you are having trouble getting financing elsewhere. ”

Additional information can be found by contacting Patrick Jermik, Loan Officer, at: pgermick@coic.org or 541-280-9611, or by going to the COIC website at www.coic.org/loans

COIC was appointed by the Council of Governments in 1972 under ORS 190 and serves the local government of Central Oregon. COIC provides regional employment and training services, alternative secondary education, business loans, planning and management, community and economic development, and public transportation services operated by Cascades East Transit.

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