Mid-Columbia Economic Development District
The Mt Hood Economic Alliance is a partnership between Clackamas, Hood River and Wasco counties that has gap financing loans for local businesses. MHEA provides secondary financing for businesses unable to secure (enough) financing through conventional banking means. MHEA's loan fund is currently capitalized at about $900,000 with approximately $250,000 available for small business lending.
A region of rural geographic and economic similarities, Clackamas, Hood River and Wasco counties also share a common connection to the urban Portland metropolitan area. Formed in 1993, the Mt Hood Economic Alliance has adopted a vision of:
"Improve the region's quality of life by addressing local needs and priorities and providing a balance of opportunities for economic growth and long term prosperity through economic diversification and job creation for the current population."
Over the last 10 years, the Alliance has distributed over $3.5 million in Regional Investment and Rural Investment lottery funds, provided grants or loans which resulted in the creation of 214 new jobs and leveraged $13.6 million in Federal, state, local and private funds.
Priority for MHEA is the creation and retention of jobs. Priority is given to those business development projects that create or retain better than average wage jobs in the agriculture, light manufacturing, recreation equipment, technology or tourism industries.
MHEA, as a source of "gap" financing, is also looking for projects that leverage other sources of business development capital.
For more information on MHEA funds:MHEA Loan Application