Areas Served: Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura counties
The California Coastal Rural Development Corporation offers a USDA Intermediary Relending Program for Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura counties to businesses that will hire or retain employees in rural areas.
DESCRIPTION Business loans in rural areas.
USE OF FUNDS Working capital, equipment acquisition, plant improvements and inventory.
QUALIFICATION Business must be located in an unincorporated area or in a city or town with a population of 25,000 or less.
MINIMUM & MAXIMUM AMOUNTS $25,000 to $250,000.
MATURITY 7 years on loans for equipment or working capital; 15 years on real estate.
INTEREST RATE Rate tied to prime based on credit evaluation.
COLLATERAL Available business and personal assets including machinery and equipment, accounts receivables, inventory and real property.
FEES 2% of loan amount.
Contact InformationCalifornia Coastal Rural Development Corporation
Address: 221 Main Street, Suite 300
City: Salinas
State: California
Website:
http://www.calcoastal.org/loan-programs/intermediary-relending/
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