South Central Oregon Economic Development District (SCOEDD)

Regional Planning and Business Support of Klamath and Lake Counties, OR

About

The South Central Oregon Economic Development District (SCOEDD), formed in 1999, serves as the primary conduit for regional economic development resources for Klamath and Lake Counties in Oregon. It provides the professional staff to support economic development planning on a regional basis and the individual economic development efforts of Lake County and Klamath County. SCOEDD also manages and administers regional loan programs.

SCOEDD has operated revolving loan funds (RLFs) since 2002. Primary funding has been received through the United States Economic Development Administration and the United States Department of Agriculture Rural Development with matching funding from regional investment boards, state grants, counties and others. All Revolving Loan Funds were designed to assist small businesses with job creating projects in the region.

SCOEDD utilizes lending criteria that allows for more business risk by allowing lending to start-up businesses, businesses that have been in business for less than three years and loaning to businesses that do not meet standard accepted underwriting percentages and ratios. We have the opportunity to provide longer terms, loans with more liberal collateral policies including subordinate lien positions, and interest rates from some loan funds that are below market rates.

SCOEDD focuses RLF funds on clients whose credit is not otherwise available on terms and conditions that permit the completion or successful operation of the activity to be financed. SCOEDD uses its RLF to fill the financing gap, left by commercial banks and other traditional financing sources; to help businesses grow, expand and create jobs in the region.