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"Often when local businesses consider selling outside the area, they think they need a different skillset- that it is a different world," observed Sean Olsen, who co-owns AEDC client Crestmark Architectural Millworks with his brother Scott. "We found that it is really not so different after all."
Thanks to a loan from AEDC, this January Jeremy and Aspen Logan fulfilled a long-time dream when they purchased Beckman Printing in Fort Bragg. "We have wanted to own a business for many years but have not had the opportunity until now.
Using a classic business example -- the lemonade stand -- Humboldt County, CA, youth earned more than $6,000 and donated nearly half of the profits to good causes on North Coast Lemonade Day.
The results are in from Humboldt Lemonade Day on June 2 and a total of 256 young entrepreneurs learned what it takes to start a business by opening lemonade stands and many opted to give back to their community.
Of the nearly 60 stands that were opened in Humboldt County on lemonade day, local youth sold more than 3,100 cups of lemonade and earned an estimated $6,125 with a net profit of $3,695, according to the National Lemonade Day report released just recently.
Sometimes when you buy a business, you know it's going to be a "fixer-upper." That was definitely the case when Travis Schneider bought the RV park on Sixth Street in Eureka, and the 504 loan program helped him refinance to make it a sustainable change. Now called Schneider Shoreline RV Park (or simply Shoreline RV Park), the facility is ready to comfortably accommodate visitors to the North Coast.
But when he bought the site in 2007, "it wasn't in operable condition by any means," Schneider said. The location right off of U.S. Highway 101 was ideal, but there was a great deal of work to be done. The entire property has since been renovated, including improved water and sewer lines, new landscaping, regrading and new fencing. The buildings with showers and other amenities were also redone to better serve guests, and new cable and internet services and equipment were added.
With a $1 million construction loan, he began to create the site that tourists would be happy to retreat back to after a day of romping through the redwoods, hitting the beach and strolling through Old Town Eureka. Through Arcata Economic Development Corporation, Schneider said he was able to refinance.
"The rate for commercial property is phenomenal," Schneider said. "It was a no-brainer in terms of affordability."
Arcata Economic Development Corporation (AEDC) today announced it has received a $45,000 grant from Bank of America for use as loan loss reserves required by federal microloan programs to access an additional $300,000 in loan capital. In an effort to find new ways to help struggling small and start-up businesses in the region, AEDC is working with Bank of America to tap unused federal funds.
Arcata Economic Development Corporation (AEDC) will be kicking-off “North Coast Lemonade Day” next Thursday, an event that encourages youth in Humboldt County to experience a hands-on activity that teaches about business and workforce preparation for the next generation.
Arcata Economic Development Corporation is one of the recipients of the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund with a grant of $750,000 to expand lending activities in Humboldt, Del Norte, Mendocino, Lake Siskiyou and Trinity Counties.
Fill a need, Know your customer and product, Be creative and innovative and Believe in yourself are four tenants that local entrepreneurs hope to instill in local school students through a pilot Junior Achievement program hosted by the Fortuna and McKinleyville Middle Schools.
AEDC currently has an opening for Controller, a management position. The controller is responsible for maintaining financial systems, policies, procedures and financial compliance requirements. Degree in accounting or business administration, five years experience and strong communication skills are required. A complete job description can be found here. Send your resume and cover letter by 5 p.m. Aug. 30, to AEDC, 100 Ericson Ct, Ste 100A, Arcata, CA 95521 or email to: firstname.lastname@example.org.
Arcata, Calif. – June 23, 2010 – Wells Fargo & Company (NYSE: WFC) announced today that Arcata Economic Development Corporation (AEDC), a technical-assistance provider to small businesses, is one of fourteen nonprofit agencies throughout California that will share in a $1.4 million grant from Wells Fargo called the Technical Assistance Initiative.
Wells Fargo & Company (NYSE: WFC) announced today that Arcata Economic Development Corporation (AEDC), a technical-assistance provider to small businesses, is one of fourteen nonprofit agencies throughout California that will share in a $1.4 million grant from Wells Fargo called the Technical Assistance Initiative.
Arcata Economic Development Corporation (AEDC) has been awarded additional funding of $1.5 million from the Headwaters Fund for economic development, giving AEDC Small Business Lending Center a total of $3 million from the Headwaters Fund to support small business owners in Humboldt County. Businesses can use the funds to start their business, purchase inventory or equipment, expand a business or make leasehold improvements and for working capital.
In the 1970s, Arcata was experiencing a changing economic climate. Natural resource jobs were declining, while enterprising and innovative students were graduating from Humboldt State University with a desire to stay in Humboldt County. In March of 1978, the Arcata City Council voted to form the Arcata Local Development Corporation, now known as the Arcata Economic Development Corporation. The independent non-profit development corporation would provide programs, offer services and engage in activities that economically supported the city of Arcata.
AEDC will commemorate 30 years of risk taking and dream making by celebrating achievements of this region’s small businesses at Spotlight on Success on May 22 at the Arcata Community Center. This free event will be held from 5:30 p.m. to 7:30 p.m. with music, food and an opportunity to meet business owners, partners, and key figures from AEDC’s history. Learn about the innovative endeavors that have been made possible, and continue to be made possible, with help from AEDC with a display of the organization’s rich history.
Arcata Economic Development Corporation has named Ross Welch as the organization’s new executive director. Welch comes to AEDC with 30 years of lending experience in Humboldt, Del Norte and Mendocino Counties. For the past eight years, Welch has worked in Humboldt County, most recently for Redwood Capital Bank where he worked in commercial lending and as branch manager.
Nine participants in AEDC’s first flight of the Prosperity IDA Scholarship (Individual Development Account) will be graduating at a ceremony on April 21 at AEDC. The Prosperity IDA Scholarship is a matched savings program designed to help low to moderate income small entrepreneurs start and expand small businesses.
Arcata Economic Development Corporation (AEDC) has been awarded $300,000 in revolving loan funds from the Small Business Administration (SBA) Microloan Program. The funds will be available to business owners in Humboldt, Del Norte, Lake, Mendocino, Siskiyou and Trinity counties, for fixed rate loans up to $35,000. Businesses can use the funds to start their business, purchase inventory or equipment, expand a business or make leasehold improvements and for working capital.
Child Care I.Q. (Invest in Quality) is a new program to be launched by AEDC and First 5 Humboldt that will provide the resources for existing family child care providers and child care centers to enhance their child development environment. Child care providers can qualify for a loan from AEDC up to $5,000 for equipment, materials or professional development and have that loan re-paid by First 5 when they meet their program enhancement goals.
“We’re from the government and we’re here to help.”
It’s a phrase that has been used to draw a laugh, at times with good reason. Government guaranteed loans from the Small Business Administration (SBA) are a resource that business owners sometimes overlook. Probably because the idea of bringing the government into their business financial life comes with, well, the government.
Arcata Economic Development Corporation’s (AEDC) has selected twelve participants for the Prosperity Individual Development Account (IDA) Scholarship program. The ten-month program combines business and finance education with the opportunity to save money for their business and have it matched two dollars for every dollar saved.
Loans made by Arcata Economic Development Corporation to small businesses on the Northcoast resulted in an estimate of $41,974,055 in total output impact in 2005 according to the just-released AEDC Economic Impact Report.
North Coast Congressman Mike Thompson announced today that the Arcata Economic Development Corporation (AEDC) received $500,000 in Department of Agriculture (USDA) Rural Economic Development funds to support business development and expansion throughout its six county service area.
AEDC does not discriminate on the grounds of race, color, religion, sex, marital status, age, disability or national origin in services or accommodations offered or provided to our employees, clients or guests.