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.
• Interest Rate: Prime plus 1%, with a base rate of 6% on secured loans with deed of trust. Prime rate plus 2% with a base rate of 7.5% on loans with UCC filings.

Try out our Loan Calculator.

We assist companies with site selection by screening available properties to meet your criteria and arranging meetings with realtors and bankers.

We act as a business ombudsman by arranging meetings or directing companies to appropriate city and county offices for assistance. We also develop incentive packages for businesses in cooperation with our county or cities.

We conduct economic research projects countywide and provide economic and demographic information for business planners.

We provide both financial and technical assistance to local businesses and maintain a referral network for additional assistance.

We participate in community marketing efforts to encourage business expansion, attraction and retention.