YOUR BUSINESS DOES NOT HAVE TO FACE DISASTER ALONE
Facing any natural, economic or civil disruption can leave businesses frustrated and out of resources. The Economic Development Collaborative understands the risks businesses face and is ready to provide access to capital and specialized, hands-on technical business assistance today through the Disaster Bridge Loan Fund.
The Economic Development Collaborative has been aiding businesses through disasters since the 1994 Northridge Earthquake. Through the recession, devastating wildfires, mudslides and now the COVID-19 pandemic, the EDC has provided low-interest, affordable loans to our region’s businesses. With the support of our top-tier business consulting team, we are ready to assist you.
The Disaster Bridge Loan Fund is designed to give a cash flow boost to businesses impacted by reduced sales or lost inventory due to disasters. New loan recipients that have been impacted by the COVID-19 pandemic may opt to pay interest-only for the first 6 months.* Whatever your position or finances, talk to the professionals at the EDC for more information on how to turn it around.
Funding May be Used For:
- Equipment and inventory purchases
- Working capital
Terms & Eligibility:
- Loans may range from $5,000 to $50,000
- 4.25% interest rate
- Maximum loan term 48 months
- New loan recipients that have been impacted by the COVID-19 pandemic may opt to pay interest-only for the first 6 months, extending their maximum loan term to 54 months
- No loan origination fee, but minor out-of-pocket expenses apply
- Three years of financial statements and/or projections
- 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
For more information view our Disaster Bridge Loan Fund Flyer.
To Apply contact EDC Director of Lending, Marvin Boateng at loans@edcollaborative.com or 805.409.9158.
In partnership with Gene Haas Foundation & Pacific Western Bank.
