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|Articles - May 2013|
|Monday, April 29, 2013|
BY TIM MCCABE
Oregon is a state of small businesses. More than 75% of the businesses in the state employ only between one and nine employees. That is why, at Business Oregon, we focus so much of our work on helping small businesses finance growth and find new markets for their products. Our Business Finance team’s effectiveness has multiplied exponentially in the last two years, in part due to the infusion of $16.5 million in State Small Business Credit Initiative (SSBCI) funds from the federal government. These funds, combined with our existing funding from Oregon Lottery revenue, are used in partnership with private lenders to leverage everyone’s resources to best accommodate business growth.
These are revolving loan and loan-guarantee programs, not grants or giveaways. So far, we’ve helped nearly 100 Oregon small businesses and disbursed close to $5 million of the SSBCI funds. Better yet, rural companies, often located in the areas of highest unemployment in the state, have received 61% of the SSBCI funds.
Oregon’s success in supporting businesses with this fund has been noticed nationally and was highlighted recently by Toby Rittner, president and CEO of the Council of Development Finance Agencies. “Business Oregon is a state agency [that] is cutting edge, innovative and an example of best practices in our industry,” Rittner said.
Overall, the number of loan guarantees issued through Business Oregon’s Credit Enhancement Fund (CEF) increased 25% in 2012 over the previous year. In 2012 Business Oregon helped private lenders issue more than $30 million in loans and the total loan amount rose 57% over the same period. In addition, the number of new jobs created as a result of the CEF loan guarantees also increased 74%.
We can do more. These tools are intended to free up capital to spur small-business growth, and we can work with your business and lender to do just that. A great example of how we can help Oregon small businesses reach their goals is Boneyard Beer in Bend. Only in Oregon could a former keg washer for Deschutes Brewery, who moved to Bend to snowboard, first become a builder and salvager of brewing equipment, then start a microbrewery that now perches on the doorstep of Oregon’s top 10 microbreweries. And he did it in less than three years.
That is the story of Boneyard Beer co-owner and head brewer Tony Lawrence. Lawrence named his brewery after the “boneyard” of discarded and used brewing equipment he collected and then rebuilt to produce his first keg of Boneyard beer in April 2010. In less than three years, Boneyard had grown to become Oregon’s 11th largest microbrewery, increasing its sales 175% in 2012 to reach 7,500 barrels of production. Central Oregon is already home to several of the state’s top breweries, and the three-county region leads the state with one brewing-industry job for every 390 residents.
Business Oregon recently signed on to partner with Boneyard to grow into a 15,000-square-foot plant in northeast Bend complete with a new canning line. The company used a Business Oregon loan guarantee in partnership with the company’s local bank. The company’s new plant is expected to allow it to double its brewing production in 2013. The company currently employs about a dozen workers and hopes to start canning beer this month. This is how we can partner with small businesses to reach their potential, and with fine examples like Boneyard Beer, some of the best beer in the world gets created along the way.
Tim McCabe is the director of Business Oregon. Visit Oregon4biz.com for more information.
Tuesday, March 31, 2015
BY JACOB PALMER | DIGITAL NEWS EDITOR
inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.
Friday, February 20, 2015
BY APRIL STREETER | OB CONTRIBUTOR
Leslie Carlson channels the big idea.
Monday, February 23, 2015
Yeah, we know: Oregonians are way too cool for umbrellas. But today’s stylish, high-tech models will soften the resistance of the most rain hardened.
Friday, February 20, 2015
BY JOE CORTRIGHT | OB CONTRIBUTOR
"Shipping containers to Portland is like waiting for a bus that travels once a day."
Wednesday, February 18, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR
NBA commissioner: "I would love to end up having an All-Star Game in Portland. It's really just a function of ensuring that we can fit in town."
Friday, February 20, 2015
BY LINDA BAKER | OB EDITOR
Vacasa may lack the name recognition of Airbnb. But not for long.
Wednesday, April 01, 2015
BY LINDA BAKER
Can Oregon remain small but mighty in a global food economy? That was one of the questions raised during this morning’s panel discussion on agriculture exports.
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A new report highlights how Oregon bankers are giving back to their communities.
Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
The Port of The Dalles has run marine facilities since the 1930s, but they are part of a larger mission to strengthen the local economy. They focus on regional economic development with a strong bent toward adding good-paying jobs in high tech, manufacturing and other industries.
The Atkinson Graduate School of Management at Willamette University has maintained its business accreditation by AACSB International—The Association to Advance Collegiate Schools of Business.
Like the advent of the locomotive, the cloud creates business opportunities that simply weren’t possible before now. Get up to speed fast in May at an exciting cloud-empowered Portland event.
Registration is now open for Portland Business Alliance’s Annual Meeting, one of the largest business gatherings in Portland each year.