Areas Served: City of Nevada City
The City of Nevada City is committed to promoting the growth of local businesses located within the City limits.
This commitment includes providing loan funds to existing and/or start-up businesses.
All applications are reviewed for approval at the City and State levels.
Two Loan Programs
Business Assistance Loan Program (BAP) – Job creation/retention requirement: One job for every $35,000 of loan funds – 51% of jobs created/retained must be filled by a person whose household income falls below threshold*
Microenterprise Assistance Loan Program (MAP) – Business owners’ income must be below threshold* – Five or fewer employees – No job creation/retention is required Eligible Uses of Loan Funds – Furniture, fixtures, and equipment – Working capital – Tenant improvements – Business, building, and/or property purchase Loan Terms – Generally the interest rate will be below market rate (3%) – Flexible terms (i.e., deferral periods, interest only, etc.
) 5 to 20 years
Contact InformationCity of Nevada City, California
Address: 980 Helling Way
City: Nevada City
State: California
Website:
http://nevadacitybizloans.com/
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