The Parkrose Spark Loan Fund is dedicated to fostering local business success by offering financial support to businesses that need capital to:

• Launch or expand operations

• Invest in equipment, inventory, or infrastructure

• Enhance business marketing and online presence

• Improve storefronts and customer experience

By providing accessible, zero-interest loans, this initiative ensures that small businesses in Parkrose can thrive and contribute to a vibrant local economy.

• Enhancing security through the installation or upgrade of security cameras, new locks, lighting, and alarms

• Updating or Replacing Business Furnishings by improving their physical environments by updating or replacing worn-out or outdated furnishings. This includes purchasing new tables, chairs, décor, or any necessary equipment that enhances the customer experience and overall business aesthetics.

• Improving Online Presence by enhancing their digital footprint by creating or upgrading e-commerce websites and implementing SEO optimization strategies.

• Loan Amount: Up to $8,000

• Interest Rate: 0% interest for the first 24 months

• Repayment Terms:

• First 24 months: Monthly payments at 4.2% of the total loan amount

• After 24 months: Any remaining balance will be subject to the current Federal Funds interest rate

• Early Repayment: No penalty for early repayment

To qualify for the loan, applicants must:

✔ Be a new or existing small business operating in the Parkrose neighborhood

✔ Have been in operation for less than three years

✔ Provide a business plan with financial projections

✔ Submit proof of business registration and tax identification

✔ Show how loan funds will support business growth

Businesses that remain in good standing with loan payments will also receive complimentary publicity and marketing support from Historic Parkrose.

Applicants must prepare and submit:

A business plan outlining goals, operations, and financial projections

Legal business documents, such as registration and tax ID

Financial statements (e.g., bank statements, profit & loss)

A statement detailing how the loan will be used

The selection process includes community engagement, where Parkrose residents help rank applications, ensuring support for businesses that will have the most significant local impact.

First 24 months: Monthly payments at 4.2% of the total loan amount

Loan recipients must submit quarterly revenue reports to track financial health and business progress.

Reporting schedule:

• Q1 Report (March 31)

• Q2 Report (June 30)

• Q3 Report (September 30)

• Q4 Report (December 20)

Businesses are also expected to participate in periodic check-ins with Historic Parkrose to discuss loan impact and operational growth.

The Parkrose Spark Loan Fund features an innovative community support model where businesses can reduce their loan balance by encouraging customer donations.

• For every donation in your name, $3 is deducted from the borrower’s loan balance

• Donations are collected via QR codes or online links

• 15% of contributions support program administration, ensuring future funding for other businesses

This initiative strengthens community ties and allows businesses to pay forward the support they receive.

Interest-free capital to grow your business

Flexible repayment terms with no penalties for early payoff

Marketing and business development support

Opportunity to engage with the local community

Chance to reduce loan debt through customer contributions

The Parkrose Spark Loan Fund is a stepping stone for small businesses looking to establish themselves, expand, and succeed in the Parkrose district.

📩 For questions, contact:

📧 [email protected]

📞 503-964-7807