SBA 504 Loan | Current Rate is:

SBA 504 Loan
To Buy, Construct or Improve Commercial and Industrial Buildings.

Year in Review, Paycheck Protection Program (PPP) & CA Relief Grant

Fri, 2020-04-03 15:28 -- Susan

Thank you for your interest in the Arcata Economic Development Corporation (AEDC)

March of 2020 was a game-changing month for everyone, yet here we are— still hanging there exactly one year later. AEDC has been able to provide our community with funding to get through this extremely challenging year. Each loan provided meant that a business was more likely to stay open and to retain employees. We are immensely proud of our team for being able to support of our community.

AEDC’s year in review with loans funded from March 2020 – March 2021:

  • City of Arcata Business Resiliency Emergency Loan Fund - 21 Loans totaling $205,944
  • Del Norte Resiliency - 13 loans totaling $65,000
  • Paycheck Protection Program  -100 loans totaling $6,485,000
  • Other loans -7 loans totaling $390,000

A loan total of $7,145,944

The deadline to apply for the SBA Paycheck Protection Program has been extended through May 31, 2021 (dependent upon remaining available government funding).

AEDC has been offering technical assistance with the California Relief Grant. If you need technical support with the California Relief Grant application, please contact Brandi at 707-798-6132.

AEDC will be having a tutorial webinar (TBA) that will assist business owners in applying for round 6 of 6. Round 6 applications are for first-time applicants which can be submitted from April 28, 2021, through May 4, 2021. If you applied during round 1, 2 or 5, you do not need to reapply. If you applied for round 4 and were not selected, you will need to re-apply.

- Your friends at AEDC

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