OregonRelating to interest-only loans to assist small businesses to increase employment.
What it does
Establishes the Local Markets Small Business Capital Loan Program to be administered by the Oregon Business Development Department for the purpose of making interest-only loans to allow businesses with not more than 50 employees to hire new employees. Requires the payment of principal plus penalty for failure to hire and retain employees for at least two years. Establishes the Local Markets Small Business Capital Loan Fund for the purpose of administering the loan program.
More detail
Appropriates moneys to the department for the purpose of administering the loan program and loan fund.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jun 28In committee upon adjournment.Latest
- Jan 17Referred to Economic Development, Small Business, and Trade with subsequent referral to Ways and Means.Minor
- Jan 13First reading. Referred to Speaker's desk.Introduced