Also known as Community Development Block Grant (CDBG) economic development loans, these programs are available to local businesses to: purchase land and improvements, purchase existing building(s) and improvements; purchase machinery/equipment, purchase inventory, or for construction of building(s), or working capital.
Small Business Administration Loan Program
504 Loan: Available for the purchase of land and improvements; purchase of existing building(s) and improvements; construction of building(s), purchase of machinery/equipment with life of 15 or more years; renovation and restoration. Maximum amount: 40% of project; not to exceed $10 million.7A Loan: Available for the purchase of land and improvements; purchase of existing building(s) and improvements; construction of building(s), purchase of machinery/equipment; working capital; purchase of inventory; and business buy-outs. Maximum guarantee amount is $2 million.Click here for a more detailed description of these loans.
United States Department of Agriculture Rural Development
United States Department of Agriculture (USDA) Rural Development is committed to increasing economic opportunity and improving the quality of life for all Rural Americans. With over 40 programs in business, housing and community development, USDA Rural Development provides loans, grants and loan guarantees to help ensure rural citizens have a wide range of economic opportunities. One of the more utilized business programs offered is the Business & Industry Guaranteed Loan program (B&I). A more detailed description of these programs can be found at:
California Loan Guarantee Program
The Loan Guarantee Program permits Regional Development Corporations to use state funds to guarantee loans made by banks or financial institutions up to 90 percent of the outstanding principal balance with a maximum guarantee amount of $500,000 including grantees for short-term capital. Additional services provided by the Regional Development Corporation include: business plan analysis, entrepreneurial and small business education services; referrals to lenders; and post loan technical assistance.
The Nevada County Department of Housing and Economic Development Division secures funds for first time homebuyers and housing rehabilitation and weatherproofing for qualified families. The town of Truckee offers a Down-payment Assistance Program.
Following is a listing of Web sites of companies that provide angel / venture capital. Please note that Golden Capital Network is very proactive in Nevada County, and may be a good place to start. Some of the sites below will lead you to other sites…