BUSINESS FINANCING · OR

Small Business Financing in Multnomah County, Oregon: A Plain-Language Guide for Solo Contractors & Small Investors

This guide helps solo contractors and small real-estate investors in Multnomah County, Oregon understand their financing options, who qualifies, and which local organizations can actually help them. We highlight community development financial institutions (CDFIs), local credit unions, ITIN-friendly lenders, and the SBA Oregon District Office — not just big banks. Take your time, compare your options, and never feel pressured to sign anything quickly.

§ 01 — What it is

What Is Small Business Financing?

Small business financing means borrowing money — or accessing grants — to start, grow, or stabilize a business. For solo contractors, this might mean a small loan to buy tools, cover payroll between jobs, or bridge a slow season. For small real-estate investors, it might mean a rehab loan to improve a rental property. Financing comes in several forms: • **Term loans** — You borrow a set amount and repay it monthly over one to seven years (sometimes longer). Good for purchasing equipment or making improvements. • **Lines of credit** — A flexible pool of money you draw from when needed and repay as you go. Useful for uneven cash flow. • **Microloans** — Smaller loans, often $500–$50,000, with flexible credit requirements. Ideal for newer or smaller businesses. • **SBA-backed loans** — The U.S. Small Business Administration guarantees a portion of the loan so lenders take on less risk. This can open doors for borrowers who might not qualify for conventional bank loans. • **Grants** — Free money, usually tied to specific purposes (minority-owned businesses, green energy, etc.). Competitive, but worth pursuing. • **CDFI loans** — Loans from mission-driven lenders whose goal is community benefit, not profit maximization. Often more flexible on credit scores and collateral. None of these are one-size-fits-all. The right product depends on your situation, your business stage, and which local lenders are active in Multnomah County right now.

§ 02 — Who qualifies

Who Qualifies? Multnomah County's Local Economy & Eligibility

Multnomah County is Oregon's most populous county, anchored by Portland. Its economy includes construction, food and beverage, retail, professional services, healthcare, and a growing creative and tech sector. Solo contractors — especially in construction trades, landscaping, cleaning services, and food service — make up a large share of the small-business community. **General eligibility factors lenders look at:** - Time in business (many lenders want at least 6–12 months, though CDFIs and microloans may accept newer businesses or pre-revenue startups) - Annual revenue (even modest revenue counts — some CDFIs have no minimum) - Personal credit score (conventional banks often want 650+; CDFIs and credit unions are more flexible, sometimes accepting scores in the 500s) - Business credit history (if you have an EIN, you may already have a thin business credit file) - Collateral (assets like equipment or property that back the loan — not always required for microloans) - Business plan or cash flow projections (especially for startups) **ITIN holders:** If you do not have a Social Security Number, you can still qualify for financing using your Individual Taxpayer Identification Number (ITIN). Several lenders in Multnomah County actively serve ITIN borrowers. You do not need to be a U.S. citizen to access most CDFI or credit union products. **Undocumented business owners:** You have options. Oregon does not require citizenship for a business license, and some local CDFIs explicitly serve immigrant entrepreneurs regardless of immigration status. **Real-estate investors:** For small residential investment properties (1–4 units) in Multnomah County, you may qualify for conventional or portfolio loans, hard-money loans for fix-and-flip, or CDFI rehab loans if the project serves affordable housing goals.

§ 03 — What you need

Documents You'll Typically Need

Having your paperwork ready speeds up the process considerably. Requirements vary by lender, but here is what most will ask for: **For most business loans:** - Government-issued photo ID (passport, Oregon driver's license, consular ID/matricula consulare, or ITIN letter) - Last 2–3 years of personal tax returns (or 1–2 years if you're newer) - Last 2–3 years of business tax returns (if applicable) - 3–6 months of personal and business bank statements - Proof of business registration (Oregon Secretary of State business registry printout) - Business license (City of Portland or relevant jurisdiction) - Profit & loss statement (P&L) — even a simple one you prepare yourself - List of outstanding debts **For microloans or CDFI loans specifically:** - A simple written description of your business and how you'll use the funds - Cash flow projections (your best estimate of income and expenses over 12 months) - Personal financial statement **For real-estate investment loans:** - Property address and current valuation or purchase agreement - Scope of work / contractor bids (for rehab loans) - Rent roll (if the property is already producing income) - Evidence of property insurance **ITIN borrowers:** Your ITIN letter from the IRS, plus ITIN-based tax returns (1040 filed with ITIN), are sufficient for identity and income verification at ITIN-friendly lenders. You do not need an SSN. Tip: Keep digital copies of everything. Many lenders in Multnomah County now accept applications online or by email.

§ 04 — Where to start in Multnomah County

Local Lenders, CDFIs, and Resources That Serve Multnomah County

These are organizations with a real presence in or active service to Multnomah County. Origen Capital is a directory — we don't lend money. Always verify current programs directly with each organization. --- **CDFIs & Nonprofit Lenders** • **Craft3** — A regional CDFI headquartered in the Pacific Northwest. Serves small businesses and nonprofits in Oregon, including Multnomah County. Flexible credit standards, loans from $5,000 to $2M+. Strong track record serving minority- and immigrant-owned businesses. craftedloans.org • **Mercy Corps Northwest** — Portland-based CDFI offering microloans ($1,000–$100,000) to underserved entrepreneurs, including ITIN holders and immigrants. Offers free business coaching alongside lending. mercycorpsnw.org • **Hacienda CDC** — Serves the Latino community in the Portland metro area. Offers small business lending, homeownership programs, and financial coaching. ITIN-friendly. haciendacdc.org • **Oregon Native American Chamber (ONAC)** — Supports Native American-owned businesses with access to capital and technical assistance, including referrals to CDFI partners active in Multnomah County. • **Business Impact NW (formerly Washington Community Alliance)** — Provides small business loans and technical assistance to underserved entrepreneurs, including women, minorities, immigrants, and veterans in the Portland area. businessimpactnw.org --- **SBA Oregon District Office** The SBA's Oregon District Office is located in Portland and oversees SBA 7(a) loans, 504 loans, and microloan programs throughout Oregon. The District Office does not lend directly — it certifies lenders and can connect you to approved intermediaries. They also run free workshops and matchmaking events. - Address: 1220 SW 3rd Ave, Suite 1700, Portland, OR 97204 - sba.gov/offices/district/or/portland **SBA-preferred lenders active in Multnomah County include:** Umpqua Bank, Banner Bank, and Columbia Bank — all of which have Portland branches and SBA lending teams. --- **Local Credit Unions** • **Unitus Community Credit Union** — Headquartered in Portland. Serves Multnomah County residents and businesses. Offers small business checking, lines of credit, and loans with lower fees than many banks. Member-owned. unituscu.org • **OnPoint Community Credit Union** — Oregon's largest credit union by membership. Offers small business loans, equipment financing, and SBA products. Branch network throughout Portland metro. onpointcu.com • **Advantis Credit Union** — Portland-based, serves Multnomah County. Business accounts and lending available to members. advantiscu.org • **Oregon State Credit Union** — Has a branch presence in the Portland metro and offers business lending programs. oregonstatecu.com --- **ITIN-Friendly & Immigrant-Serving Lenders** • **Mercy Corps Northwest** (listed above) — Explicitly accepts ITIN as primary identification. • **Hacienda CDC** (listed above) — Bilingual staff, ITIN-accepted. • **Albina Community Bank** — Historically served the Portland Black community and minority entrepreneurs; check current programs and product offerings directly. albinabank.com --- **Free Technical Assistance (before or alongside financing)** • **Oregon Small Business Development Center (SBDC) at Portland Community College** — Free one-on-one business advising, loan prep assistance, financial projections help. pcc.edu/sbdc • **SCORE Portland Chapter** — Free mentoring from retired business executives. Particularly good for loan-application preparation. portland.score.org • **Prosper Portland (Portland Development Commission)** — City agency offering business loans, grants, and technical assistance, particularly in underserved neighborhoods and for BIPOC-owned businesses. prosperportland.us

§ 05 — What to avoid

Oregon-Specific Regulatory & Program Notes

Oregon has a number of state-level rules and programs that affect small business financing in Multnomah County. Here are the most important ones: **Oregon Business Registry** Before applying for financing, your business should be registered with the Oregon Secretary of State. An LLC costs $100 to file online. Lenders will pull your registry status — being current and in good standing matters. sos.oregon.gov/business **Oregon Small Business Loan Fund (Business Oregon)** Business Oregon, the state's economic development agency, administers several loan and guarantee programs including the Oregon Credit Enhancement Fund, which helps small businesses that are close to qualifying for a bank loan but need a little extra backing. businessoregon.com **Oregon STEP Program** If your business exports goods or services, the State Trade Expansion Program offers grants for international marketing. Less relevant for solo contractors, but worth knowing. **City of Portland Programs (Prosper Portland)** Portland is inside Multnomah County, so city programs apply to most county residents. Prosper Portland offers the Portland Small Business Relief Fund (periods vary), BIPOC Business Relief, and neighborhood-specific investment programs. Always check their current open applications. prosperportland.us **Oregon Contractor License** Solo contractors in construction trades must hold an active Oregon Construction Contractors Board (CCB) license. Lenders — especially those offering equipment or working capital loans to contractors — will verify your CCB status. ccb.oregon.gov **Oregon Usury & Lending Laws** Oregon has consumer lending rate caps, but these apply mainly to personal loans — not business loans. Small business loans in Oregon are generally not subject to rate caps, which is why it's especially important to understand what you're signing (see the 'What to Avoid' section below). **Oregon Department of Consumer & Business Services (DCBS)** If you believe a lender has treated you unfairly or unlawfully, DCBS handles complaints. dfr.oregon.gov **Multnomah County Business Tax** Note that businesses operating in Multnomah County owe a county business income tax (separate from City of Portland). This is not a financing issue per se, but staying current on taxes affects your ability to qualify for loans and some grant programs. multco.us/revenue-services

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