Tillamook EDC funds to local businesses

The Economic Development Council is pleased to announce the successful funding of two very deserving businesses in Tillamook County.

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The first is a new loan to Pacific Taxi Services. This company is owned by Daniel Hettenbach and serves a very important function throughout our county in the form of transportation and delivery services ranging from a ride to the doctor in Beaverton to picking up prescriptions for the elderly to providing a ride to PDX for a flight.

Pacific Taxi is using the funding to finance an additional, more fuel efficient vehicle providing for more service at greater efficiency.

The second recipient is Peggy VanSant, the owner of a new company called Three Waters Oasis, LLC. This business is the first of its kind in Tillamook County offering floatation relaxation in a high salt-content water tank. This type of therapy has been proven to release stress and rejuvenate the spirit.  It has been endorsed by navy seals and doctors alike.

The Revolving Loan Fund was completely retooled over the past year by the new director of the EDC, Mike Cohen.

According to Mr. Cohen, “Our goal is to get the money out of our bank account and into the hands of deserving entrepreneurs as quickly as we can. These funds are directly responsible for adding more dollars into our local economy but on a scale that enhances our lifestyle and doesn’t jeopardize it.”

The fund provides for up to $30,000 for existing businesses and $20,000 for new businesses. The fund’s parameters deliberately do not draw specific lines such as credit score requirements or collateral.

“The only critical requirement,” Cohen said, “is that the applicant must have been previously rejected for conventional financing by a regular financial institution such as a bank. In today’s economic climate, that isn’t too much of a hurdle.

“I would like to congratulate our two new recipients and wish them much success moving forward.”

For more information on the Revolving Loan Fund, please contact Mike Cohen at 503-842-8222 X1410.