Areas Served: Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura
The California Coastal Rural Development Corporation offers a micro loan program for Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Ventura counties.
DESCRIPTION Credit and technical assistance to new or expanding small enterprises.
USE OF FUNDS Inventory, accounts receivable, machinery and equipment leasehold improvements, and working capital.
QUALIFICATION The Micro loan Program lends to owners of new or expanding small and micro enterprises to finance business start-up and expansion.
MINIMUM & MAXIMUM AMOUNTS $5,000 to $50,000. Subject to change by SBA.
MATURITY Loan terms are from one to six years.
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.
Contact InformationCalifornia Coastal Rural Development Corporation
Address: 221 Main Street, Suite 300
City: Salinas
State: California
Website:
http://www.calcoastal.org/loan-programs/micro-loan/
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