Oregon Feasibility Study: Lender-Grade SBA and USDA Studies

MMCG Invest, LLC prepares feasibility studies for Oregon projects where four conditions specific to this state redraw the underwriting math a national template cannot see. Measure 50 caps a parcel's maximum assessed value at 3 percent annual growth regardless of how fast its real market value rises, the formula behind the $10.07 billion in statewide property tax Oregon districts imposed in fiscal year 2025-26 by the Oregon Department of Revenue's own count, so a seller's trailing tax bill cannot be projected onto a new building without modeling the assessor's changed property ratio directly. Metro, by its own account the only directly elected regional government in the United States, draws the urban growth boundary that plans a twenty-year, 175,500-home capacity for the Portland region through 2044 in its 2024 Urban Growth Report, so site control inside that line depends on a boundary Metro draws before it depends on zoning any city draws. Oregon charges no sales tax at all, a 0 percent state rate against Washington's 6.5 percent by the two states' own Departments of Revenue, a structural reduction to the furniture, fixtures and equipment line of an Oregon capital stack a lender must price in rather than assume away. Intel alone accounts for more than 70 percent of the value sheltered under the Strategic Investment Program, whose exemptions cost Oregon and its local governments $630 million in the 2023-25 biennium by the Department of Revenue's own tax expenditure report, so workforce housing and retail demand near Hillsboro rides on one company's investment cycle rather than a diversified employment base. Every engagement is calibrated to the project address, the program of record, and the specific lender, CDC or USDA office carrying the deal.

Pricing starts at $4,900 with a 50/50 fee schedule. Delivery in 9 to 16 business days. A complimentary preliminary Oregon market overview within one business day of submission.

The U.S. Small Business Administration serves Oregon through two district offices, and the split matters to a borrower reading a district report because neither office's own totals equal Oregon's own numbers. The Portland District Office, at 419 SW 11th Avenue, Suite 310, Portland, appointment only, serves thirty of Oregon's thirty-six counties plus four counties in southwestern Washington State, Clark, Skamania, Cowlitz and Wahkiakum. The remaining six Oregon counties in the state's far east, Baker, Grant, Harney, Malheur, Union and Wallowa, are served instead by the Boise District Office in Idaho. MMCG's computation over SBA's 7(a) and 504 FOIA release as of June 30, 2026, keyed to the project state and to SBA's own district office field, shows 1,185 of the fiscal year 2025 7(a) approvals for Oregon projects carried the Portland District Office and 45 the Boise District Office. The Portland District Office's own multi-state totals run higher still, because its territory also reaches into southwestern Washington: 1,377 7(a) loans for $586,417,800 in gross approved dollars and 83 504 loans for $109,492,000 in debenture dollars for the district as a whole, figures that must not be read as an Oregon-only number.

On the FOIA release itself, restricted to Oregon projects, SBA lenders approved 1,230 7(a) loans in fiscal year 2025 for $514,883,400 in gross approvals and $373,710,045 in guaranteed dollars across 91 distinct lenders, against 1,054 loans for $346,785,300 in fiscal year 2024, and 730 loans for $317,640,100 through the first three quarters of fiscal year 2026. Columbia Bank is Oregon's most active 7(a) lender by count, 242 loans for $15,381,000 in fiscal year 2025, ahead of U.S. Bank, National Association at 173 loans for $41,373,800, Northeast Bank at 111 loans for $15,454,400, Newtek Bank, National Association at 60 loans for $30,079,000 and Banner Bank at 57 loans for $15,883,300. Ranked by gross dollars instead, U.S. Bank leads outright, followed by Banc of California with $34,703,000 across just 15 loans, Readycap Lending, LLC with $34,571,500 across 44 loans, Newtek again, and Live Oak Banking Company with $26,645,000 across 30 loans. The pattern an Oregon borrower should read is a regional bank writing many small owner-occupied loans alongside national lenders, Readycap, Newtek and Live Oak among them, writing the larger real estate files a hotel or self-storage project produces.

The 504 program in Oregon runs through seven Certified Development Companies, closing 73 loans in fiscal year 2025 for $96,076,000 in debenture dollars and $216,171,000 in estimated total project dollars. Mortgage Capital Development Corporation led with 28 loans for $53,081,000, followed by Evergreen Business Capital at 18 loans for $20,303,000, Cascade Capital Funding, headquartered in Salem, at 12 loans for $7,932,000, Northwest Business Development Association at 11 loans for $10,675,000, and C.C.D. Business Development Corporation, headquartered in Roseburg, at 2 loans for $3,079,000. Eastern Idaho Development Corporation and Capital Matrix, Inc. each closed a single Oregon loan, $822,000 and $184,000 respectively, a reminder that a 504 file on the state's eastern edge is as likely to be written to an Idaho-based CDC as an Oregon one.

The table below is MMCG's own cut of SBA's 7(a) and 504 FOIA release as of June 30, 2026, restricted to loans whose project state is Oregon, disbursed, approved in fiscal years 2010 through 2026, and grouped by the NAICS codes of the asset classes this firm studies. The charge-off rate is the share of loans with a terminal outcome that ended in a charge-off, on a count basis, shown only where that resolved cohort holds at least 30 loans. Across all industries, Oregon's 11,922 disbursed 7(a) loans for $5,007,685,500 resolved 7,451 with a 5.7 percent charge-off rate, and its 1,061 disbursed 504 loans for $866,237,000 resolved 390 at 1.3 percent. Hotels and motels are the cleanest large class by a wide margin: 223 7(a) loans for $384,402,800 resolved 143 with a 0.7 percent charge-off rate, and 63 504 loans added $101,717,000 in debenture dollars. Restaurants carry the largest count in the table, 756 7(a) loans for $275,816,000, and the highest resolved charge-off rate alongside fitness centers, 5.5 percent on 451 resolved loans; fitness and recreational sports centers resolved 73 loans at the same 5.5 percent. Gas stations and convenience stores, 132 loans for $232,115,400, resolved 69 at 1.4 percent, and assisted living and continuing care, 65 loans for $58,214,900, resolved 39 at 5.1 percent. Child day care services posted the cleanest resolved cohort of any class with enough volume to rate, 0.0 percent across 47 resolved loans. Self-storage, 32 7(a) loans for $42,187,500, RV parks and campgrounds, 27 loans for $25,259,400, car washes, 21 loans for $9,131,900, and marinas, 5 loans for $5,002,800, each resolved fewer than 30 loans and carry no rate.

USDA Rural Development serves Oregon from the Oregon Rural Development State Office at 1220 SW 3rd Avenue, Suite 1801, Portland, under State Director Jim Carmack, with five local offices carrying county-level Community Programs coverage: the Portland office for Clackamas, Clatsop, Columbia, Hood River, Multnomah, Tillamook and Washington counties; the Tangent office for Benton, Lane, Linn, Lincoln, Marion, Polk and Yamhill; the Roseburg office for Coos, Curry, Douglas, Jackson and Josephine; the Redmond office for Crook, Deschutes, Jefferson, Harney, Klamath and Lake; and the La Grande office for Baker, Gilliam, Grant, Malheur, Morrow, Sherman, Umatilla, Union, Wallowa, Wasco and Wheeler.

The program parameters a lender models come from the state office's own published terms for fiscal year 2025. Business and Industry guaranteed loans in Oregon carry an 80 percent guarantee, a maximum 40-year term, a 3 percent initial guarantee fee and a 0.55 percent annual retention fee, and a reduced 1 percent initial fee for qualifying projects. Rural Energy for America Program guarantees carry the same 80 percent guarantee and 40-year term, with loan guarantees covering up to 75 percent of eligible project cost, grants up to 50 percent, and the combined award capped at 75 percent; Renewable Energy System grants run from $2,500 to $1 million and Energy Efficiency Improvement grants from $1,500 to $500,000. Community Facilities direct loans carry a graduated grant scale from 75 percent in the smallest, poorest communities down to 15 percent, with fiscal year 2025's first-quarter interest rates set at 4.500 percent Poverty, 4.875 percent Intermediate and 5.25 percent Market; Community Facilities guaranteed loans carry an 80 percent guarantee, a $100 million maximum loan amount, a 1.25 percent initial fee and a 0.5 percent annual retention fee, reserved first for projects in areas of 20,000 residents or fewer.

Oregon's own Rural Development obligations, computed from the U.S. Treasury's USASpending.gov data by place of performance, ran six Business and Industry guarantees in fiscal year 2025 for $130,768 in obligated subsidy cost against a combined $65,384,000 in guaranteed loan face value, compared with one guarantee for $0 obligated the year before. The Rural Energy for America Program obligated $11,637,928 across 58 awards in fiscal year 2025, up from $9,673,621 across 49 in fiscal year 2024; Community Facilities obligated $2,488,000 across 5 awards, up from $1,475,000 across 2; and Water and Waste Disposal obligated $6,262,850 across 2 awards, down from $4,776,375 across 5. Named awards tell the same story at the project level: a $25 million Business and Industry guarantee announced in fiscal year 2026 supports Blue Mountain Mill, a joint venture of Cairnspring Mills and the Confederated Tribes of the Umatilla Indian Reservation at Coyote Business Park near Pendleton, carried by the lender Native American Bank, while a combined $6,487,000 Water and Waste Disposal grant and loan, $6,237,000 of it a grant, funds a sewer pipeline connecting Gold Hill to the Medford Regional Water Reclamation Facility for the borrower Rogue Valley Sewer Services.

The eligibility shape is set by the 50,000 line for Business and Industry and REAP, and a tighter 20,000 line for Community Facilities. Twelve Oregon cities exceed the 50,000-inhabitant threshold on the Census Bureau's Vintage 2025 estimates and are ineligible in their own right: Portland, Salem, Eugene, Gresham, Hillsboro, Bend, Beaverton, Medford, Corvallis, Springfield, Tigard and Albany. A project in any of the state's other cities and unincorporated areas, and in the urbanized fringe outside those twelve, clears the population test, and the study documents eligibility at the parcel against the local office's own territory rather than at the county level.

The state economic development authority is Business Oregon, the operating name of the Oregon Business Development Department, and its programs reach a commercial real estate borrower at several points. The Oregon Business Development Fund lends up to $2,000,000 at a rate of U.S. Treasury Bills plus 1 percent, a 4 percent floor, for up to 20 years, for land, buildings, equipment and permanent working capital, with a $200 application fee and a 1.5 percent origination fee. The Credit Enhancement Fund insures a participating lender for up to 80 percent of a loan, to a maximum exposure of $6,000,000 on a term loan or $1,600,000 on an operating line of credit, for uses that include real property acquisition and construction financing. The Entrepreneurial Development Loan Fund lends up to $1,000,000 over a borrower's lifetime to businesses under $1,500,000 in revenue or 25 employees, amortized over no more than 10 years. Enterprise Zones abate local property tax on new or expanded commercial and industrial property for three to five years in a standard zone or up to 15 years in a Long-Term Rural Enterprise Zone, across 73 zones statewide, 55 of them rural, and 2026 legislation, House Bill 4084, extended some zones' exemption periods to as long as 10 years. Industrial Development Bonds give the greatest benefit on projects of $5 million or more, while the streamlined Oregon Express Bonds are built for the $1,000,000 to $5 million range.

Oregon's State Small Business Credit Initiative allocation is $83.5 million across five programs Business Oregon administers. The Credit Enhancement Fund itself carries $31.0 million of the total; the Business Oregon Relender Program, a loan participation vehicle buying up to 50 percent of a project's loan or $1,000,000, carries $5.5 million; the Oregon Royalty Fund, offering $50,000 to $1 million royalty and angel loans against a private match, carries another $5.5 million; and the two venture capital programs, a direct co-investment vehicle run with Elevate Capital and a fund-of-funds vehicle, carry $26.5 million and $15.0 million. Oregon's original, smaller SSBCI round in 2010 and 2011 allocated $16,516,197 to the same Credit Enhancement Fund and the Oregon Business Development Fund.

Assisted living, residential care and memory care in Oregon are licensed by the Department of Human Services under Oregon Administrative Rules chapter 411, division 54, which defines an Assisted Living Facility as a building serving six or more seniors or adults with disabilities in self-contained units with coordinated supportive services; memory care is an endorsement on that licence under division 57 and Oregon Revised Statutes 443.886, not a separate licence category. The department's own June 2025 organizational assessment puts its combined caseload of assisted living, residential care and memory care facilities at 575. Oregon's certificate of need statute, Oregon Revised Statutes 442.315, reaches only a new hospital or a new skilled nursing or intermediate care service or facility; its text does not name assisted living or residential care, so a stand-alone Oregon assisted living program is licensed, not certificate-of-need gated. A new facility follows a dated sequence in rule: a letter of intent with an independent market analysis, a written department decision within 60 days, building plans reviewed before construction, a complete licensing application at least 60 days before anticipated licensure, an administrator's licence and completion notice at least 30 days before, and a written confirmation of licensure before any resident is admitted.

Oregon has no statewide hotel operating licence; the instrument a lender asks about is the transient lodging tax. The state's own rate is 1.5 percent through December 31, 2026, rising to 2.75 percent from January 1, 2027, a figure that folds in a new 1.25 percent nature conservation fee. Cities and counties layer their own rates on top, from Eugene's 4.5 percent to Bend's 10.4 percent, and a Portland hotel stay carries four separately imposed charges totalling 16 percent, the 1.5 percent state rate, a 6 percent city tax, a 5.5 percent Multnomah County tax and a 3 percent Tourism Improvement District charge. A car wash answers to Oregon's Department of Environmental Quality under two general permits, 1700-A for wastewater discharged to surface water or a storm sewer and 1700-B for wastewater disposed by evaporation, seepage or irrigation, both issued under Oregon Revised Statutes 468B.050; a facility that recycles all its wastewater or sends it to a municipal sanitary sewer is exempt from either. Permit 1700-A caps daily discharge at 60 milligrams per liter of total suspended solids, 15 milligrams per liter of oil and grease and a pH of 6.0 to 9.0, and its Three Basin Rule bars any new wash-water discharge to the Clackamas, McKenzie above Hayden Bridge, or North Santiam sub-basins. An RV park or campground is licensed by the Oregon Health Authority as a recreation park under Oregon Revised Statutes 446.310 to 446.350 and Oregon Administrative Rules chapter 333, division 31, for a fee of $60 plus a per-space charge, renewed every December 31, with civil penalties running from $25 to $1,000 per violation by class.

An Oregon credit committee reads the study in the order of the programs above. For a 7(a) or 504 file under SOP 50 10 8 it wants the market area drawn to the parcel and the competitive set named, the demand case built from public series the underwriter can check, the stabilized-year cash flow at the required coverage, and the equity and collateral mechanics stated, including where a Business Oregon loan, a Credit Enhancement Fund guarantee or an SSBCI-funded participation sits beside the bank. For a Business and Industry, REAP or Community Facilities file the Oregon Rural Development State Office reviews, it wants the rural-area determination at the address against the 50,000 or 20,000-inhabitant line, the guarantee percentage and fee schedule that fiscal year's OneRD notice sets, and a market study to the standard in 7 CFR Part 5001. For every Oregon file it wants the state layer set out in the lender's own vocabulary: the Department of Human Services licence and the absence of a certificate of need, the state and local transient lodging tax a lodging operation collects, the DEQ discharge permit a car wash carries, the Oregon Health Authority recreation park licence, the Measure 50 maximum assessed value the parcel is capped at, and the system development charge schedule the city or county publishes. A study that carries each of those with the source named in the sentence is the study an Oregon underwriter can lift into the memo without a second round.

An Oregon feasibility study is underwritten against four conditions this state alone imposes, not a checklist of categories any state could fill; each is carried here with its own figure and its own effect on the deal.

Measure 50 decouples Oregon's property tax base from the market: a parcel's maximum assessed value can grow no more than 3 percent a year no matter how fast its real market value rises. All Oregon districts together imposed $10.07 billion in property tax in fiscal year 2025-26 on that capped base, by the Oregon Department of Revenue's own count. Because new construction enters the roll at a value tied to its current real market value rather than a grandfathered, capped one, a lender cannot read a seller's trailing tax bill and project it forward; the study has to model the post-completion assessed value from the assessor's changed property ratio instead.

Metro, the Portland region's government and by its own account the only directly elected regional government in the United States, draws the urban growth boundary that gates land supply for the entire metro under statewide Goal 14. Metro's own 2024 Urban Growth Report plans a twenty-year capacity of 175,500 homes for 2024 through 2044, and the same twenty-year boundary requirement binds every incorporated Oregon city, not Portland alone. Land for a given asset class may simply sit outside the line at a chosen site, and adding it takes a Metro or state process measured in years rather than a variance measured in months, so a lender underwriting land cost, entitlement timeline and construction-loan carry has to confirm the parcel's position inside the boundary and inside Metro's published capacity before assuming comparable land will be available at the underwritten basis.

Oregon charges no sales tax at all, and the Oregon Department of Revenue's own guidance is unqualified that the state has no general sales or use tax, against a 6.5 percent state rate the Washington State Department of Revenue confirms. The absence lowers the furniture, fixtures and equipment line of an Oregon project's total development cost by whatever a comparable Washington, Idaho or California purchase would owe at the point of sale, a real reduction in the capital stack the study must not double count by then also pricing Oregon rents or sale prices as if the market carried a tax. The same absence draws cross-border shoppers to Portland-area retail, gas station and mixed-use sites near the Washington state line, and a market study for one of those sites tests for that traffic rather than assuming a purely local trade area.

The Strategic Investment Program exempts the portion of a large capital project's assessed value above a size-scaled threshold from property tax for 15 years, and the Oregon Department of Revenue's own tax expenditure report puts its cost to state and local government at $630 million in the 2023-25 biennium, with Intel alone accounting for more than 70 percent of the value the program shelters; the same report records a further $125 million shifted onto other Oregon taxpayers in the same biennium. The employment that investment keeps anchored in Washington County is what drives hotel and multifamily demand in Hillsboro, so a feasibility study for the Hillsboro-Aloha submarket prices that demand as concentrated in one company's capital cycle: workforce housing, daycare, retail and hospitality absorption assumptions there should be modeled against Intel's own investment and hiring pattern rather than treated as a diversified employment base.

An Oregon study runs to the sections a lender's file expects, each calibrated to the state. The engagement letter and scope name the program of record, the lender or CDC, the district office the county falls under and, for a USDA file, the local Rural Development office the address falls under. The site and market area section places the parcel in its city or county, states the rural-area determination where USDA is the program, and draws the trade area from the road network rather than a radius. The demand section builds from the public series this page cites: the Census Bureau's Vintage 2025 estimates for population and migration, the Bureau of Labor Statistics for statewide and sector employment, Travel Oregon's own economic impact figures for the visitor economy, the Port of Portland's own marine and airport traffic statistics, County Business Patterns for the competitive stock and the SBA FOIA release for the state's own lending record in the asset class. The competitive set section names the operating properties, their scale and their position. The regulatory section carries the licence and permit sequence with the statute and rule cited, and the state and local transient lodging tax for a lodging property. The financial section runs the stabilized year, the ramp, the operating expenses, the reserves and the discounted cash flow at the lender's coverage, with the property tax line built from the Measure 50 cap against the county's own rate and the system development charge from the city's own schedule. The risk section names what could move the numbers, the state's contracting nonfarm employment, a metro's own building-permit slowdown, a wildfire or drought disaster history, or a licence renewal date, and says what the sponsor has done about each. The lender package closes with the comparable-loan evidence from the FOIA release and a statement of the standards the study was prepared under.

Oregon counted 4,273,586 residents on July 1, 2025 by the Census Bureau's Vintage 2025 estimates, up 8,262 from 4,265,324 a year earlier, an increase of about two-tenths of a percent, and the components explain why: a natural decrease of 3,764, 38,334 births against 42,098 deaths, was more than offset by net migration of 11,864, made up of 9,636 international migrants and 2,228 domestic ones. Every person Oregon added in 2025 came from migration, not from births exceeding deaths, a demand case for senior housing and household turnover more than for a growth pro forma. The labor market is contracting even as the state grows: the Bureau of Labor Statistics' Oregon Economy at a Glance table put total nonfarm employment at 1,963.2 thousand in July 2026, seasonally adjusted, down 0.9 percent from 1,981.2 thousand a year earlier, with unemployment at 5.2 percent. Education and health services was the one major sector that grew against that current, up 2.9 percent to 359.9 thousand jobs from 349.8 thousand, while leisure and hospitality slipped to 203.6 thousand from 207.3 thousand.

Census County Business Patterns for 2023, the latest year published, counts 984 hotels and motels in Oregon with $722,634,000 in annual payroll, 1,090 assisted living facilities with $648,576,000 in payroll, 332 self-storage operators, 244 car washes, 141 RV parks and campgrounds and 136 continuing care retirement communities. Travel Oregon's own economic impact figures for calendar 2025 show direct travel spending of $14.6 billion, up 1.3 percent from $14.4 billion, direct travel-generated employment of 122,920 jobs, up 1,700 from 121,220, and state and local tax revenue from travel of $741 million, up from $722 million, even as overnight person-trip volume held essentially flat at 30.2 million, down 0.6 percent, and domestic air visitor arrivals rose 4.4 percent to 4.3 million. The Oregon Department of Revenue's own lodging tax registry counted an average of 1,910 lodging providers and intermediaries with tax liability per quarter in fiscal year 2024, down more than 30 percent from 2,850 in fiscal year 2018, split across 480 motels, 470 hotels, 520 vacation homes, 280 campground and RV site providers and 120 bed and breakfasts, on statewide taxable lodging sales of $2.9 billion and state tax receipts of $41,528,704. The Port of Portland's own marine terminal statistics recorded 493 vessel calls, 86,387 container TEUs and 329,639 automobile units moving through the state's only deep-draft port in calendar 2025, and Portland International Airport carried 18,563,132 total enplaned and deplaned passengers that year, up 6.0 percent.

MMCG's own market data adds a further layer to the Portland hotel, self-storage and multifamily picture beyond the public record above: trailing twelve-month hotel occupancy, average daily rate and revenue per available room for the metro's hospitality market; street rate and occupancy for a climate-controlled and a non-climate-controlled self-storage unit; multifamily asking rent, vacancy, and units delivered and underway; and capitalization rates by property type and sales volume across the metro's capital markets. Those figures are compiled for the engagement itself and cited by market and by quarter in the study; this section states the public-record figures below.

Portland is the market with the state's highest concentration of lending, taxing and development activity, and a study here reads a metro of 2,542,282 people on the Census Bureau's Vintage 2025 estimate for the Portland-Vancouver-Hillsboro metropolitan statistical area. Site control here starts with Metro, the Portland region's own directly elected government, whose urban growth boundary is the only state-enforced, twenty-year land supply line of its kind and whose 2024 Urban Growth Report plans a 175,500-home capacity for 2024 through 2044; a parcel outside that boundary is not a site until a Metro or state process, measured in years, moves the line. Multnomah County's fiscal year 2025-26 average effective property tax rate is $23.63 per $1,000 of assessed value, the highest of the state's core counties, against $18.04 in Washington County and $17.87 in Clackamas County; the largest Portland code area carried a combined rate of $26.76 per $1,000 in the prior fiscal year. Washington County itself carries a further concentration risk: Intel's Hillsboro and Aloha campuses hold more than 70 percent of the value sheltered under the state's Strategic Investment Program, a $630 million reduction to state and local revenue in the 2023-25 biennium by the Oregon Department of Revenue's own count, so workforce and retail demand tied to that submarket rides on one company's capital cycle. System development charges layer on top of that rate: the city's Transportation SDC charges $4,605 per room for a hotel or motel and $15.27 per square foot for retail, its Parks SDC runs from $8,041 to $18,178 per residential unit outside the Central City, and its Bureau of Environmental Services charges $1,308 per drainage fixture unit in the tier that includes car washes and $532 per 1,000 square feet for stormwater; the Water Bureau's own SDC runs from $5,483 for a five-eighths-inch meter to $788,484 for a ten-inch one. Portland Permitting and Development's own Q3 2025 dashboard shows a 71-business-day goal for commercial new construction against actual monthly medians of 119, 98 and 155 days across July, August and September, even as its First Review stage met its own goal 95 percent of the time year to date. Multnomah County alone authorized 992 single-family units and 540 units across 16 multifamily buildings in calendar 2025, down from 1,035 and 905 the year before, inside a metro that authorized 6,133 single-family units and 1,995 multifamily units for the same year, both down from 2024. The metro's Oregon-side counties added 65-and-over residents faster than either of the state's other two largest metros, from 314,939 in 2020 to 359,776 in 2025, a 14.2 percent rise, and its 75-and-over population rose 31.4 percent over the same span. The Oregon Department of Transportation's own count-station data puts the metro's busiest recorded traffic not on Interstate 5 but on the Interstate 84 and Interstate 205 freeway loop, at 175,966 and 171,289 vehicles a day respectively.

Salem is the state capital and the core of a metro of 445,814 residents on the Vintage 2025 estimate, spanning Marion and Polk counties. Marion County's fiscal year 2025-26 average effective property tax rate is $17.38 per $1,000 of assessed value, against $15.98 in Polk County, and the largest Salem code area carried a combined rate of $19.63 per $1,000 in the prior year. The city's own fee schedule sets a non-industrial commercial water system development charge of $11,579 total at a one-inch meter and $36,096 at two inches, a parallel wastewater charge of $9,184 and $28,628, and a stormwater charge of $0.28 per square foot of new impervious area. Salem's Transient Occupancy Tax runs 9 percent of gross rents, and its Building and Safety Division commits to initial plan review comments on a commercial structure within 20 business days, with an Enhanced Plan Review option that shortens the first round to 10 days and the second to 5 for an added fee. Marion County alone authorized 784 single-family units and all 496 of the metro's multifamily units in calendar 2025, 89.8 percent of the metro's single-family total, against a metro-wide 873 single-family and 496 multifamily units, both down from 2024. The Salem Municipal Airport, McNary Field, recorded 28,119 enplanements in calendar 2024 after Avelo Airlines began service in October 2023, before that carrier's August 2025 exit pulled the preliminary calendar 2025 figure down to 11,060. On the Oregon Department of Transportation's own count stations, Interstate 5 carries Salem's heaviest recorded traffic, at 104,411 vehicles a day south of the Market Street interchange, well above Oregon Route 22 through downtown at 45,682. The metro's 65-and-over population rose from 75,466 in 2020 to 84,797 in 2025, up 12.4 percent, and its 75-and-over population rose 24.1 percent over the same span.

Eugene and Springfield anchor Lane County, a single-county metro that was the only one of Oregon's three largest to lose population between 2024 and 2025, slipping from 382,081 to 381,584 on the Vintage 2025 estimate even as its 65-and-over population kept growing, from 80,593 in 2020 to 89,132 in 2025, the highest senior share of the state's three largest metros in both years. Lane County's fiscal year 2025-26 average effective property tax rate is $16.45 per $1,000 of assessed value, and the largest Eugene code area carried a combined rate of $19.82 per $1,000 in the prior year, against $18.58 in the largest Springfield code area. Eugene's own system development charge schedule prices a car wash by name, $1,126.03 per plumbing fixture unit for the city's local wastewater system and $5,771.28 per thousand gross square feet for the regional system the Metropolitan Wastewater Management Commission runs, on top of a flat $3,861.57 per trip transportation charge and a $2,997.54 per room parks charge for a hotel or motel; the Eugene Water and Electric Board's own water SDC runs from $2,276 at the smallest meter size to $18,211 at two inches. Eugene's Transient Lodging Tax is 4.5 percent, and its Building and Permit Services commits to telling an applicant within three business days whether a commercial application has been accepted for review, with a same-day Commercial Express Permit track for qualifying tenant improvements. The metro authorized 730 single-family units and 749 multifamily units across 33 buildings in calendar 2025, both down from 2024's 799 and 972, though the multifamily dollar value rose 14.0 percent on fewer, larger buildings. The City of Eugene's own Growth Monitoring Program reports 12,610 net new dwellings permitted since 2012, 83.5 percent of the adopted 20-year forecast, of which 74.5 percent, 9,391 dwellings, were multifamily, well over the plan's 25 percent assumption, while commercial and industrial land absorption ran below pace at 27 and 15 percent of forecast. On Oregon Department of Transportation count stations, the metro's busiest recorded traffic sits not on Interstate 5 but on the Beltline, Oregon Route 569, at 85,425 vehicles a day, ahead of Interstate 5 itself at 79,276 and Interstate 105 at 72,729.

Bend anchors the smallest and fastest-building of the state's four metros in this page, a Central Oregon market of 266,376 residents on the Vintage 2025 estimate, inside a Deschutes County that the 2020 Census found 70.8 percent urban, leaving a meaningful rural fringe once the city itself, over the 50,000-inhabitant line, is excluded. The Census Bureau's Building Permits Survey recorded 3,122 housing units authorized in the Bend metropolitan statistical area in 2025 for $823.7 million in valuation, a figure that rivals or exceeds Salem's and Eugene-Springfield's despite Bend's much smaller population. Bend's Room Tax runs 10.4 percent of rent, with 70 percent of the revenue above a 9 percent base rate dedicated to a Tourism Fund and the remaining 30 percent to police and fire; Deschutes County layers an 8 percent Transient Room Tax of its own in unincorporated areas outside Bend, Redmond, Sisters and La Pine. Travel Oregon's own figures put Central Oregon tourism-region spending at $1,298 million in calendar 2025, up 1.4 percent, and the region's commercial airport, Redmond Municipal, about sixteen miles from Bend, carried 1,317,655 total passengers in calendar 2025, up 6.9 percent from 1,232,797. Deschutes County's own Fair and Expo Center in Redmond hosted the Fairwell Festival, drawing up to 50,000 visitors over a three-day span, one of the county's own named examples of the venue's economic reach; roughly ninety miles south in Klamath County, Crater Lake National Park drew 632,242 recreation visits in calendar 2025, up 25.21 percent, a regional draw for the broader Central Oregon visitor economy rather than a Deschutes County figure itself. Bend and the rest of Deschutes County sit in Oregon's Standard minimum-wage tier, $15.55 an hour for the year beginning July 1, 2026, below the Portland metro's $16.80 and above the state's Nonurban counties at $14.55; Oregon allows no tip credit anywhere, so a hospitality operator here pays that full cash wage before any tip income. Statewide, the Bureau of Labor Statistics puts the mean hourly wage for maids and housekeeping cleaners at $19.00 and for home health and personal care aides at $21.46, both well above the wage floor a Bend operator budgets against.

Read against the SBA record above, hotels and assisted living stand out, and self-storage and RV parks carry the state's thinner demand signals. Hotels pair 984 establishments and $722,634,000 in payroll with the cleanest large class in the FOIA cut, a 0.7 percent charge-off rate across 143 resolved loans, and with Travel Oregon's $14.6 billion in direct spending, PDX's 6.0 percent passenger growth and a lodging registry in which vacation homes, at 520 average providers a quarter, actually outnumber either hotels or motels. Assisted living pairs 1,090 establishments and $648,576,000 in payroll with the one BLS sector that grew jobs against a contracting state total, education and health services, up 2.9 percent, and with a Department of Human Services licence that carries no certificate of need. Self-storage, 332 establishments and $30,101,000 in payroll, is the state's mixed signal: population growth of two-tenths of a percent came entirely from migration rather than births, a household-turnover case rather than a pure growth one. RV parks and campgrounds, 141 establishments, resolve too few SBA loans to rate, but the state park system's own reservation data, 2.9 million camper nights in 2023, up roughly 20 percent from 2013, shows a public-lands demand base a private operator competes alongside. Restaurants and fitness centers, both at 5.5 percent charge-off, are the classes an Oregon lender will underwrite hardest, and the study for either is written to a saturation test against the state's largest FOIA count, 756 restaurant loans.

Beyond the classes above, MMCG produces SBA, USDA and conventional-grade feasibility studies for the full range of commercial property types financed in Oregon. Restaurants, the largest count in the table at 756 7(a) loans for $275,816,000, follow the same corridors the traffic data names, the Interstate 84 and Interstate 205 loop in Portland, Interstate 5 through Salem, and the Beltline in Eugene. Gas stations and convenience stores, 132 loans for $232,115,400, follow the same highway network. Child day care services, the cleanest resolved cohort in the table at 0.0 percent, follow the state's education and health services job growth. Industrial and logistics files follow the Port of Portland's 86,387 TEUs and 329,639 automobile units and Eugene's own below-pace industrial land absorption, a supply constraint as much as a demand signal. Medical office files follow the same 359.9 thousand education and health services jobs that support assisted living. Retail and multifamily files are written to each metro's own system development charge schedule and building-permit count, from Eugene's flat per-trip transportation charge to Portland's per-unit parks charge. Glamping and short-term rental files carry the state and local transient lodging tax and, where they operate as a recreation park, the Oregon Health Authority's licence and fee schedule; the lodging registry's 520 vacation-home providers a quarter, the largest single category the Department of Revenue tracks, is this class's own demand base. Marinas, 5 7(a) loans for $5,002,800, are the state's smallest rated class, written to the Willamette, the Columbia and the coast. Community Facilities Program files for nonprofit and public borrowers are written to the Oregon Rural Development State Office's standard, on the pattern of the Gold Hill sewer award and the state's 5 Community Facilities awards obligated in fiscal year 2025.

Standard delivery is 9 to 16 business days from data receipt, and rush turnaround is available from 5 business days. The seven steps below are what happens in that window, from the project brief to lender review.

MMCG delivers Oregon feasibility studies in 9 to 16 business days from data receipt, with a complimentary preliminary market overview within one business day of submission. Pricing starts at $4,900 with a 50/50 fee schedule. Reports are formatted for SBA, CDC, USDA and conventional lender file submission and incorporate the analytical layers Oregon credit committees expect: the Portland or Boise district roster and the state's own FOIA cohort by asset class, the 50,000 and 20,000-inhabitant rural-area tests, the Business Oregon and SSBCI stack, the Department of Human Services licence with no certificate of need, the state and local transient lodging tax, the DEQ car wash permits, the Oregon Health Authority recreation park licence, the Measure 50 assessment cap and the city or county's system development charge schedule. Sponsor inquiries that involve a Portland Bureau of Environmental Services connection, a Bend or coastal seasonal property, or an eastern Oregon USDA file typically require the upper end of the standard range.

Engagements typically begin with the project address, asset class, capital stack, sponsor experience, and the specific lender, Certified Development Company or USDA office carrying the deal. From there, MMCG calibrates scope to the program of record, whether SBA 7(a), SBA 504, USDA Business and Industry, REAP, Community Facilities or conventional.

Send the project address. Receive a free Oregon market overview within one business day. Pricing starts at $4,900 with a 50/50 fee schedule. Delivery in 9 to 16 business days. A senior analyst responds within 12 business hours.

MMCG Invest, LLC is a commercial real estate feasibility consulting firm specializing in SBA and USDA feasibility studies across asset classes including hotels, assisted living, car washes, self-storage, RV parks, gas stations, restaurants and agritourism. Our analyses serve lenders, CDCs, investors and developers seeking institutional-quality market intelligence for underwriting and investment decisions. Engagements are led by Michal Mohelsky, J.D., Practicing Affiliate of the Appraisal Institute. Feasibility studies are prepared under USPAP discipline, aligned with SBA SOP 50 10 8 for 7(a) and 504 loans and with 7 CFR Part 5001 for USDA Business and Industry, REAP and Community Facilities financing. Engagements start at $4,900 with fixed-fee scoping. Standard delivery is 9 to 16 business days, with rush turnaround available from 5 business days. A senior analyst responds to proposal requests within 12 business hours from the firm's San Francisco office.

Every state page MMCG publishes is listed on the state index; the neighbouring states are linked at the end of this page. The Oregon cities and counties served:

Portland and the northern Willamette Valley, under the Portland District Office: Portland, Beaverton, Hillsboro, Gresham, Tigard, Lake Oswego, Oregon City, Milwaukie, Tualatin, Wilsonville, Forest Grove, Newberg, McMinnville, Hood River and St. Helens.

Salem, Eugene and the southern Willamette Valley: Salem, Keizer, Woodburn, Albany, Corvallis, Eugene, Springfield, Cottage Grove and Florence.

Bend and Central Oregon: Bend, Redmond, Sisters, La Pine, Prineville and Madras.

The coast and southwestern Oregon: Astoria, Seaside, Tillamook, Lincoln City, Newport, Coos Bay, North Bend, Roseburg, Medford, Grants Pass and Klamath Falls.

Eastern Oregon: Pendleton, Hermiston and The Dalles (Portland District Office); La Grande, Baker City, Ontario and Burns (Boise District Office and the La Grande Rural Development office).

Counties: Baker, Benton, Clackamas, Clatsop, Columbia, Coos, Crook, Curry, Deschutes, Douglas, Gilliam, Grant, Harney, Hood River, Jackson, Jefferson, Josephine, Klamath, Lake, Lane, Lincoln, Linn, Malheur, Marion, Morrow, Multnomah, Polk, Sherman, Tillamook, Umatilla, Union, Wallowa, Wasco, Washington, Wheeler and Yamhill.