A CITY POISED FOR GROWTH
The City of Camarillo, located in the heart of Ventura County, is looking to aid small businesses that have been affected by the COVID-19 Pandemic.
In partnership with the Economic Development Collaborative, this new loan fund is designed to assist business owners in overcoming some of the hurdles to successful entrepreneurship in this challenging time. Through access to non-traditional funding and no-cost business consulting from the EDC’s diverse pool of knowledgeable advisors, business recovery and development is at your fingertips. All Camarillo based small businesses are encouraged to apply.
Funding May be Used For:
- Equipment and inventory purchases
- Working capital
Terms and Eligibility
- Loans may range from $10,000 to $50,000
- Prime interest rate + 1%
- 6 months interest-only followed by 66 months principal and interest
- 2.5% loan origination fee, $500 document fee, plus out-of-pocket expenses
- Two years of financial statements, current year to date financials, and projections
- Borrower must be able to demonstrate repayment ability and acceptable credit history
- Collateral for loans such as personal real estate of guarantor and/or available business assets including machinery, equipment, accounts receivable, inventory, and real property
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 the City of Camarillo.
