Oregon Micro Fund Launches Second Fund to Help Oregon Wineries and Craft Beverages Businesses Thrive
New fund will retain / create jobs and boost economic development in rural Oregon
PORTLAND, Oregon, October 28, 2020 – Oregon Micro-funds (OMF), a Portland-based Fin-Tech lender that offers accessible loans and practical business support, today announced the creation of a second fund that provides loans of up to $ 250,000 to businesses in the rural Oregon that focus on craft drinks for adults (eg, wine, beer, spirits), as well as other businesses and farming entities that support this industry.
“There is a gap in conventional financing for many small business owners, made worse by the fact that they really need a strategic partner, not just a lender,” said Quinton Jay, managing director of Oregon Micro Fund. “Oregon Micro Fund aims to provide financial assistance to as many craft beverage companies in rural Oregon as possible. We don’t just provide a loan, we invest time and resources in the long-term success of entrepreneurs to help strengthen the regional economy.
Rural Development of the United States Department of Agriculture (USDA) renewed its investment in Oregon Micro Fund based on the success of OMF’s first fund, which provided economic support to six different projects in rural Oregon. OMF’s latest fund is focused on creating jobs and supporting economic growth in rural areas of Benton, Douglas, Hood River, Jackson, Josephine, Lane, Linn, Marion, Polk and Yamhill counties.
Oregon has more than 800 wineries and nearly 300 craft breweries and distilleries. Oregon is known as one of the premier pinot noir producing regions in the world, and many Oregon wineries are small in size and take a personal, artisanal approach to making wines. Portland, Oregon’s largest city, is considered the nation’s microbrewery capital.
“2020 has been an extremely difficult year for Oregon’s small wineries and craft beverage entrepreneurs, made worse by the devastating wildfires that ravaged the state,” said Quinton Jay, general manager of Oregon Micro Fund. “Our goal is to partner with the community and support small business owners by providing loans that can be used for working capital, debt consolidation, growth capital, etc. . “
Building on the strength of its revolving fund, OMF has a proven track record of empowering small businesses and entrepreneurs in rural Oregon to succeed and continue to contribute to their community’s livelihoods. Recent projects range from growth capital for vineyard trellis infrastructure and agricultural vineyard equipment to winemaking equipment (eg cross-flow filtration) to funding for growing distillery inventory.
To apply for a loan, submit an application to Oregon Micro Fund at [email protected] or visit https://www.oregonmicrofund.com/loans.
About the Oregon Micro Fund
Oregon Micro Fund (OMF) is a Portland-based Fin-Tech lender that provides accessible loans and hands-on business support to businesses that focus on craft drinks for adults in rural Oregon, as well as farming businesses and entities. of Oregon who support this industry.