SALEM – With the goal of helping veterans whose businesses suffered setbacks during their deployment, the Oregon Department of Veterans’ Affairs (ODVA) is offering a zero-interest Small Business Repair Loan to help veterans get their businesses back on track.
 
“This program is aimed at our National Guard and Reserve veterans,” ODVA Director Jim Willis explained. “If they are business owners, a long deployment – months away from their business – seriously affects the ability of their company to survive. We want to help these veterans recover their businesses when they get home so they are employed and can employ others.”
 
The Small Business Repair Loan program offers a zero-percent interest rate and loans up to $20,000. Applicants must be an honorably discharged veteran, own 51 percent of their business, and the business must have had a setback while the veteran was deployed. The veteran must apply for this loan within one year of returning from deployment.
 
“The commitment of members of the Guard and Reserve is unquestionable,” Willis said. “We need to do all we can to support them when they come home and giving them a hand-up to restore a business is the least we can do.”
 
For more information regarding the Small Business Repair Loan, please contact ODVA at 888-673-8387 or 503-373-2070.

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