Home

AEDC helps businesses meet the challenge of acquiring capital

Small business owners face daily challenges in fulfilling their dreams. And finding the financing to launch a new business or take an existing business to the next step can be a major hurdle. Arcata Economic Development Corporation helps businesses meet the challenge of acquiring capital.

Located in rural Northern California, AEDC has been a catalyst for regional economic development since 1978. Its mission is to provide loans and support to entrepreneurial, innovative business and community endeavors.

Put AEDC's impressive track record to work for you. Our community partnerships, the number of successful businesses that have returned for expansion loans after paying back start-up loans, and the significant number of jobs created by endeavors supported by AEDC, all point to a community funding partner who can help you grow with the community.

Over the past 31 years, AEDC has loaned over $47 million dollars for developing local businesses. If you are seeking capital for your business click on the following links to:

Visit our Small Business Lending Center

See loan details

Try out our loan calculator

Download an application package

See a directory of AEDC client businesses

See a list of our community partners

 

Member of Opportunity Finance Network

SBA 504 Loan

Current Rate is

5.79%

Jan. 15 , 2010

SBA 504 Loan

To Buy, Construct or Improve
Commercial and Industrial Buildings

Click here for more info

AEDC News

Announcing the Eel River Valley Prosperity Scholarship/Microenterprise Flight

AEDC, in partnership with North Coast SBDC, is launching the Prosperity Individual Development Account Scholarship program for microenterprise business owners. Meetings will be held in Scotia at the Winema Theater. This is an opportunity for small business owners in the Eel River Valley to participate in a free savings program where participants save up to $1,200, which is matched through our program up to $2,400, the total of which may be used for a business asset including Start Up Inventory, Equipment, Marketing and other business assets.

How the Program Works:

Included in the program are intensive business training, mentorship, resource development, and the savings program that provides matching funds for every dollar saved. 

While completing the training, participants will open a savings account at partnering local banks where participants commit to saving on average $100 per month in an account held in trust by AEDC.  Participants will receive $2 (max: $2,400)  for each $1 saved (max: $1,200).

Participants attend 10 months of small business classes developed by the North Coast SBDC on topics such as preparing financial statements, e-commerce, and marketing. Participants meet with a dedicated counselor from the North Coast SBDC at least once per month for assistance with their business venture. Participants also attend financial literacy training developed by Consumer Credit Counseling Service.

Participants graduate with proven skills for financial success and high-value assets that build long-term economic self-sufficiency.

Application Procedure and Requirements:

Participants will be selected through an application and interview process with representatives from AEDC and the North Coast SBDC.

Participants must either be a start-up business or currently in business.

Only applicants that have employment and verifiable earned income will be accepted into the program.

Each participant's total household income must be below 200% of the federal poverty level, which includes all sources of income for all household members combined and is based on the total number of people in the household.

People from all geographic regions may apply, and preference will be given to applicants in the Eel River Valley, which includes Loleta, Ferndale, Fernbridge, Fortuna, Rohnerville, Hydesville, Rio Dell, Scotia, and Redcrest, for example.

Sponsors:

Thank you to our generous community sponsors: The McLean Foundation, Umpqua Bank, U.S. Bank, Wells Fargo, the City of Rio Dell and the U.S. Department of Health and Human Services Assets for Independence.

For more information please contact Susan Seaman  at 707-822-4616 ext. 12 or susans@aedc1.org.

Informational Meeting:
Tuesday, March 9, 2010
6:30 pm, immediately following the Chamber of Commerce Mixer
Winema Theater, 117 Main Street, Scotia

Click here for a map of Scotia

Attendees may bring completed application forms and submit them at the meeting.

Application Deadline:
Wed. March 31, 2010 

Program Starts:
Tuesday, April 13, 2010
6:00 - 8:00 pm

In order to apply please complete and submit the participant application to Chelsea Cough, North Coast SBDC, 520 E Street, Eureka, CA 95501.