Oregon § 285B.746 Conditions for loan approval

Oregon Statutes

§ 285B.746 — Conditions for loan approval

Oregon § 285B.746

Vol.7

Title 26AEconomic Development

Ch. 285BEconomic Development II

This text of Oregon § 285B.746 (Conditions for loan approval) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 285B.746 (2026).

Text

(1)The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that:

(a)The applicant is enrolled in a small business management program with a small business development center or certified entity;

(b)The applicant has prepared a business plan for the business, which has been reviewed by a small business development center or other entity certified by the department to review business plans; and

(c)The applicant is not effectively owned or controlled by another business entity or other person that, either by itself or when combined with the applicant, is not eligible for a loan under ORS 285B.740 to 285B.758.

(2)In addition to the requirements for loan approval described in subsection (1) of this

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(1) The Oregon Business Development Department may approve a loan requested in an application filed under ORS 285B.743 if, after investigation, it finds that:
(a) The applicant is enrolled in a small business management program with a small business development center or certified entity;
(b) The applicant has prepared a business plan for the business, which has been reviewed by a small business development center or other entity certified by the department to review business plans; and
(c) The applicant is not effectively owned or controlled by another business entity or other person that, either by itself or when combined with the applicant, is not eligible for a loan under ORS 285B.740 to 285B.758.
(2) In addition to the requirements for loan approval described in subsection (1) of this section, in order to obtain a loan under ORS 285B.740 to 285B.758, an applicant must also satisfy one of the following conditions:
(a) In the 12-month period immediately preceding the date of application, the business may not have had annual revenues that exceeded $1.5 million;
(b) At the time of application, the business must have fewer than 25 employees;
(c) The business or proposed business must be owned, in whole or in part, by a person certified as having a severe disability by the Department of Human Services or the Commission for the Blind; or
(d) The applicant must submit proof to the Oregon Business Development Department that the applicant is a veteran who:
(A) Has a United States Department of Veterans Affairs total disability rating of at least 70 percent as a result of an injury or illness that the veteran incurred, or that was aggravated, during active military service; and
(B) Received a discharge or release under other than dishonorable conditions.

Legislative History

1991 c.688 §8; 1997 c.147 §5; 2007 c.70 §72; 2007 c.804 §38; 2009 c.830 §132; 2010 c.106 §§3,7; 2011 c.558 §4; 2019 c.394 §1; 2020 s.s.2 c.10 §§24,25; 2022 c.2 §3