COMMUNITY  CALENDER

The focus of the Illinois Valley Community Development Organization (IVCDO) Revolving Loan Fund (RLF) is to provide low interest loans to micro-enterprises and entrepreneurs located in Josephine and Jackson Counties who are unable to qualify for financing from conventional sources. To date over 68% of RLF loans have been made to low to moderate income individuals that otherwise would not have obtained access to business investment funds.  The RLF has a number of specific goals and policies that has guided its success in the last 14 years.

 

          1) Focus on low interest loans (5.5% – 7.5%) up to maximum $25,000 over a five year term

          2) Targeted priority to create jobs and sustainable small enterprises

          3) An independent loan board comprised of local community business / financial members

          4) A non-profit philosophy and approach to managing the fund’s loans and its clients

          5) Policies that provide loan restructuring and repayment flexibility

          6) Commitment to provide long term business planning and assistance services to clients through the life of the loan at no cost

 

Historical Statistics

Since its inception in 2000 the IVCDO program has funded 101 loans totaling $1,081,155. The program also assumed 5 loans from SOWAC in 2007 totaling $49,482.

          • Total Loan Fund = $344,158

          • 72 loans have been paid in full

          • 27 loans are still outstanding

          • 4 loans  have been written off as defaulted

          • Number of Loan Defaults as a percentage of Total Number of Loans = 3.9%

          • Percentage of Bad Debt ($) as a Percentage of Total Loans to Date ($) = 2.3%

 

Economic Impacts of RLF - Reported to USDA Rural Development

New Business Starts = 29  Jobs Created = 91 (mostly FT)  Jobs Retained = 43 (FT/PT mixed)

 

Loans by Business Type:

  • Construction-Trades-Trucking 17
  • Restaurant/Food Service 13
  • Retail/Gifts/Boutique 10
  • Farm/Nursery/Agriculture 10
  • Health Care Providers/Services 6
  • Arts/Crafts 6
  • Senior Care 4
  • Traded Sector Manufacturing 4
  • Tourism/Recreation 4
  • Manufacturing/Fabrication 2
  • Auto Repair/Service/Parts 3
  • Internet Services 2
  • Forest Products 2
  • Child Care 1
  • Services 19 (Taxi, Bookkeeping, Insurance, Janitorial, Carpet, Music)

 

Download Revolving Loan Fund Application Here

 

Read Revolving Loan Fund Policies & Procedures Here

 

 

Success Stories

Illinois Valley Community Development Organization / 201 Caves Highway, Cave Junction, Oregon / 541-592-4440 / fax 541-592-4075