Five Sources Of Funding For Your Startup In Lane County

Where do you get funding for your start up in Lane County? You have a great idea for a great product and you may have started to build a company around it. Maybe you only have a business plan and a lot of energy. Now all you need is a little money and hard work to turn your dream into reality. Most local founders agree that hard work to grow their early stage company came to them much easier than figuring out how to get funding in the beginning.

We put our heads together at RAIN Eugene to come up with a five sources of local early stage business funding that are accessible to local founders and entrepreneurs. All of these organizations have ties or are located in Eugene, Springfield or southern Willamette Valley.

City of Eugene Business Development Fund (BDF)

The City of Eugene’s Business Development Fund (BDF) provides assistance to new and existing businesses via the federal Community Development Block Grant (CDBG) program. The fund was established to create jobs and stimulate private sector investment. To date, the BDF has loaned almost $18 million to over 230 Eugene businesses, leveraging an additional $58 million in private investment. Since 1984, the BDF has helped to create over 1,300 new jobs.

Contact information: Aaron Doreen phone: 541-682-5448  or email aaron.x.doreen@ci.eugene.or.us

Coast to Crest Fund

Coast to Crest Fund serves as a local source of support and capital for entrepreneurs that aspire to start and grow businesses in Lane County.

Early-stage Lane County companies have traditionally relied on investment by private individuals in order to support their growth. This local investment fund’s management team believes the Lane County startup ecosystem has reached a point where it is now ready for a conventional investment fund.

Click here to contact Coast to Crest Fund

Community LendingWorks

Community LendingWorks is a Community Development Financial Institution (CDFI) that provides access to capital, and asset building services that help startups and small businesses work their way toward financial stability.  They have three small business loans: the Farmer’s Market Loan, the Micro-Enterprise Loan and the Small Business Loan with the technical assistance to ensure our borrowers are successful.

Contact us in Lane County at: 212 Main Street Springfield, OR 97477, phone: 541-345-0446 or email: maia@communitylendingworks.org

Traditional Lenders

There are many local banks and credit unions that will give secured small business and startup loans to qualified recipients. Traditional lenders tend to have higher interest rates. Traditional lenders usually don’t have the same support and advisory systems that many local and governmental startup loan programs do. Here is a list of some local traditional lenders who have loan programs for startups and small businesses.

Willamette Angel Conference

The Willamette Angel Conference (WAC) is an investment conference that connects early stage and seed startups with angel and venture investors. Entrepreneurs and startups submit business plans for review and coaching, ultimately vying in a very competitive half-day pitch competition for investment made by the WAC investor LLC. The WAC is a joint venture of the Corvallis Chamber of Commerce, and the Regional Accelerator & Innovation Network, designed to advance the entrepreneurial development movement within Oregon and the Willamette Valley.

Click here for more information

Not knowing how and where to get funding for a startup can stop an entrepreneur before he or she ever gets started. Eugene and Springfield know this and both are committed to providing sources of capital for new businesses. You can learn more about these and other programs by attending RAIN Eugene events or contacting them directly.