The City of Eugene wants to spread the word about its loan program. Although it's been around for 35 years, officials say it's under-utilized.
The city hopes to create jobs and help existing local companies expand. Eugene's Business Loan Analyst Aaron Doreen says he runs four loan programs: two for construction in the urban renewal districts downtown and on the riverfront, one job creation loan and a relatively new art loan.
Doreen: "The Eugene Ballet Company had two productions that they were looking to stage and required working capital in advance of receiving grant funding after the productions, and so the city bridged that gap."
Doreen says larger businesses like Ninkasi and Arcimoto got started with loans from the city. Smaller outfits have benefitted as well:
Doreen: “Noisette bakery specifically said they wouldn't have been able to open without the help from the city loan.”
He says the loans are meant to fill a need not met by traditional lenders.