Primary Programs & Services
The Economic Development & Financing Corporation offers a range of services to new and existing businesses. We operate a Business Revolving Loan Fund (RLF) for Mendocino County businesses to provide gap financing for projects, which encourage job creation, investment and expansion.
Business RLF Conditions:
• Loan amounts range from $10,000 – $100,000
• A typical loan package may include local bank participation, an RLF loan, and an equity portion provided by the participating business. Local banks are encorage to patricipate.
• Terms: One to ten years. Payment deferral possible under certain conditions.
• Jobs: One full-time job must be created for every $55,000 or less, loaned.
• Collateral: Fully collateralized.
• Fees: Loan packaging fee of 1.5% of the loan value, plus billable expenses.
• Business Sector