Photo: Michael Martin of NW Infrastructure has grown his business and hired staff thanks to financial assistance from The Albina Opportunities Corp.
The Collins Foundation has awarded a grant of $100,000 to Albina Opportunities Corp. Robert Stoll, a co-founder of the nonprofit, says the corporation will match the grant with an additional $400,000 from other funders.
“We will be able to … increase our loan funds to underserved small businesses in the Portland Metro area by a total of $500,000,” Stoll said in an email.
“In turn, based on our average job creation over the last 5 years, this should result in over 60 new jobs being created with just the first round of these loans –[even more, after the loans are repaid, and re-loaned again].”
AOC was set up to help small , minority and womens’ businesses grow . Contractor Michael Martin of NW Infrastructure is just one local business that has benefited.
“They gave me a credit line and increased the credit line as we got busier,” Martin said.
"Once they find out what your need is, they not only provide you with the tools to be successful, but they provide you with teaching on an abundance of business topics."
Martin said with the credit line to back him up he’s been able to bid for larger contracts.
Albina Opportunities Corporation has funded a wide range of small businesses, including: the Kenton Club, Dragontree Spa, BrightStar Care, Chick of all Trades, Atomic Pizza, Ava Roasteria, Cartlandia, and many more.
“In spite of the fact that all of our borrowers cannot obtain from traditional lenders the funds we provide them, AOC still has not lost one dollar of loan funds in its 5+ year history,” Stoll said.
To see if you qualify for help for your small business, visit the website and fill out an inquiry form.