ALIGNING YOU WITH THE CAPITAL AND FINANCIAL EXPERTISE YOU NEED TO MOVE FORWARD
Designed to pair you with the financial expertise and right amount of capital you need to move your business forward, the Economic Development Collaborative works with more than 30 professional advisors and a full time loan fund director, available to local businesses at no-cost.
The EDC’s Business Development Loan Fund stimulates job creation and economic activity by providing small businesses with greater access to capital and specialized technical business assistance. The fund is open to businesses in all industry sectors and is supported by funds from the U.S. Department of Commerce, the cities and county of Ventura and private capital. This loan fund makes available long-term, affordable financing to new and existing businesses throughout Ventura and Santa Barbara County.
Funding May be Used For:
- Equipment purchases
- Leasehold improvements
- Working capital
- Debt restructuring
Terms and Eligibility:
- Loans may range from $10,000 to $250,000
- Maximum loan term 84 months
- 3% loan origination fee
- Three years of financial statements and/or projections
- Creation of at least one new job per $25,000 loaned within 12-18 months after receipt of funds
- Collateral for loans such as personal real estate of guarantor and/or any assets purchased by the loan and UCC-1 filing on all business assets
To download our loan fund flyer, Click Here.
To Apply contact EDC Director of Lending, Marvin Boateng at loans@edcollaborative.com or 805.409.9158.
In partnership with City National Bank, Mechanics Bank, & U.S. Economic Development Agency.
