The City of Salem, Oregon Micro Business Loan Program is designed to assist entrepreneurs and small business owners within the City of Salem to access small loans and gap financing to ensure that those businesses start, grow, remain sustainable, and succeed.
Funds for the loan program are assessed from the City’s allocation of Community Development Block Grants (CDBG) program to assist persons owning or developing a microenterprise.
A microenterprise is defined as a commercial enterprise that has five or fewer employees, one or more of whom owns the enterprise.
The City of Salem Urban Development Department will provide up to $10,000 in micro loans to qualifying entrepreneurs, microenterprise startups, and small business owners within the Salem City limits.
The Micro Business Loan Program targets businesses owned by low- and moderate-income individuals, women-owned business, and businesses owned by minorities.
Businesses located within the City’s designated Neighborhood Revitalization Strategy Area (NRSA) will be given priority in this loan program.
City of Salem, Oregon
Address: 555 Liberty St