Minority & Small Business Week
Page B 12
September 26. 2 0 0 7
Business Loan Program Extends Reach
PDC program
targets small
businesses
by R aymond R endi . eman
T he P ortland O bserver
The Portland Development
Comm ission had just devel
oped a new loan fund for small
businesses that have the po
tential to take off - but lack
the necessary cash to take the
next step toward growth.
Unlike PD C’s other pro
grams that are restricted to
b rick s-an d -m o rtar p ro jects
within urban-renewal areas,
its new Near-Equity program
will loan qualified businesses
up to $50,000 for direct sup
port such as working capital
and equipment purchase, rather
than for real-estate-related
transactions.
Will Cabine of US Bank
sees the need to reach out to
potential clients.
Ordering lunch on a recent
a fte rn o o n
at
H a ro ld ’s
Barbeque, an A frican-A m eri
c a n -o w n e d r e s ta u ra n t on
North Killingsworth Street,
C abine pitched the public
funding source to its owner,
Harold Harrison.
“There are more opportuni
ties for minority-owned busi
nesses with a lot of the pro
grams that are out there,” says
Cabine, a small-business spe
cialist. “That’s just a piece of
education that some business
owners need to take advantage
of, because of all of the re
sources available from small-
business-development centers.”
H arrison shook C abine’s
hand, agreeing to make time
to talk over the options. As he
photo bv R aymond R endi . eman /T he P ortland O bserver
Arm ed with a new loan-funding source from the Portland D evelopm ent C om m ission, US Bank executive Will Cabine (right) hands his card to
Harold Harrison, owner o f Harold's Barbeque on North Killingsworth Street.
considered how PDC had been
land State business-outreach
key for his business so far,
Harrison took an interest in
what more the programs could
offer him.
“It took help from the Port-
program, and a major role player
was the Portland Development
Commission: they played a ma-
jorrole in this endeavor; without
them ?it wouldn’t have hap-’
M oon S tar
There CllT mOW ODDOrtUmtieS for minority-
r r
J
owned businesses with a lot o f the programs
?
_
that are OUt there. That S ]USt a piece OJ
education that some business owners need to
take advantage o f
- Will Cabine, US Bank
7410 N.E. MLK
CANNONS
503-285-1230
= R IB EXPRESS^
Saluting Minority Business
Development Week
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4234 N Interstate Avenue
503-281-6888
F
Our Specialty Real Hickory Smoked Bar-B-Q
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B u t she did. Tamika saved and
pened,” says Harrison.
Bruce Warner, PDC’s ex
e c u tiv e d ire c to r, says the
agency wants to help local small
businesses become more sus
tainable and ultimately attain
private sector financing, by in
creasing their credit-worthiness
and viability.
The Near-equity program
focuses on small businesses
with 20 or fewer em ployees in
the city 's targeted industries
including bioscience, creative
services, distribution and lo
gistics, sportswear, high-tech,
m eta ls and tra n s p o rta tio n
equipment, specialty foods and
sustainability.
For more information, call
Alan Stubbs at PDC at 503-
823-3321 or em ail him at'
stubbsa@ pdc.us.
Blazers
paid down her debts.
President
"It was really hard saving, but
when I finally got my keys I said, It
wasn't that hard.”
Stays Focused
continued
As for the home-buying process,
Portland Community Land Trust
was with Tamika every step of
the way.
4
Ì told al
"Any questions I had, PCLT
the answer. Even after the
purchase of my home PCLT is
still here to hold my hand. I really
have to say to people, Take
advantage of everything PCLT
has to offer! PCLT allowed me to
get the home of my dreams.
Now I feel the sky is the limit.”
affordable homes
today and tomorrow
Portland Community Land Trust
View PCLT’s website for current homes and information
at www.pclt.org or contact Paulette at 503-493-0293
Homes available to income qualified, first time home buyers
I never in my wildest dreams thought I could buy a house!”
t
I
from R3
radio station that fans may
not agree with their opinions;
really, I’m hoping would not
have anything to do with the
fact of whether or not they
feel good about the team .”
Millerwants to focus instead
on hisjob with the Blazers, with
the goal of demonstrating lead
ership skills worthy of admira
tion from the community.
“ It’s more about being able
to be a part of sports without
being an athlete,” he says. “I
hope that African-American
kids will able to look at me
and see how it can be done.”