AOC’s Unique Small Business Lending Approach
Albina Opportunities Corporation facilitates business opportunities and creates jobs and wealth for Portland’s underserved business owners by providing loans, equity investments, quasi-equity investments and credit enhancements to women, immigrant, disabled and minority-owned businesses that are “under-banked” or do not have access to traditional credit opportunities.
Small businesses account for the largest number of jobs created in Oregon. Many of these businesses are ready to expand but do not qualify for traditional small business loans. As a Community Development Financial Institution (CDFI), AOC makes loans through partnerships with local area banks, micro-lenders, and other institutional entities. Examples include “gap” financing that is needed to make a loan package that normally would not have been approved due to poor credit or lack of security, work for both the lender and borrower.
AOC, through its own special loan program and commitment to assist “under-banked” companies, believes that it can make a significant positive impact and stimulate our local economy by providing small businesses with loans and other financial alternatives. This will result in the creation of more jobs and the addition of economic wealth needed to provide stability to our communities.
AOC was formed with the support of Meyer Memorial Trust, The Oregon Community Foundation, Pacific Power, Albina Community Bank, and a group of individuals that are passionate about entrepreneurial development among underserved communities.
More than just financing…AOC’s Business Advisor Services
AOC believes that one of the most effective tools for creating a successful and sustainable business is to provide assistance to experienced business people who understand the problems and the day-to-day struggles that many small businesses experience. All AOC borrowers have access to our business groups and strategic networking alliances. Our Business Advisory group provides a tremendous support system for our business owners by providing feedback, support, accountability, and most importantly, they are dedicated to the success of each member.
AOC Borrowers have the opportunity to meet one-on-one with one or more AOC Business Advisors and the chance to network with other small business owners during AOC’s Quarterly Connect events. These casual evenings bring AOC borrowers, Business Advisors, lending partners, staff and Board of Directors together to collaborate, share experiences, form relationships and bolster the success of the group as a whole.
How You Qualify for AOC Financing
Here’s What We Look For:
- Are you at least 21 years of age, has your business been in operation for more than 1-2 years, or do you have related business experience?
- Do you have a business plan?
- Do you have a demonstrated strong work ethic and personal investment in the day-to-day operations of the business?
- Are you a woman, minority, immigrant, or disabled-owned business?
- Other businesses may be approved based on other factors including:
- An employee labor force hired from an under-served geographical area.
- Existing and future employee pay rates considered at or above living wage rates for the area.
How Do I Get Started?
Step 1
Call AOC at (503) 227-3950 or complete the on-line Initial Inquiry Form and Confidentiality Statement.
Step 2
Mail or e-mail the completed forms to tbrandt@albinaopportunities.org.
Step 3
AOC will review your information and determine if AOC is a good match for your needs.