Business Description
http://www.edfc.org/ Economic Development & Financing Corporation
Services
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 encourage to participate.
• 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
EDFC of Mendocino County Creating and Retaining Jobs in a Tight Economy
April 22, 2011 Ukiah, CA - The Economic Development & Financing Corporation of Mendocino (“EDFC”) is proud to announce that, in the last year, it has brought into Mendocino County $729,440, loaning out $450,000, creating 34 jobs and retaining 95.5 jobs.
EDFC loans leveraged $4,834,893 of private investment and attracted $9,258,000 of other financing which helped purchase and install a gang array saw at a saw mill and helped renovate and open a retreat center and assisted in the opening of a restaurant.
EDFC is also actively involved in bringing broadband to rural Mendocino County and cultivating a culture of entrepreneurship via a business plan competition.
EDFC is a non-profit corporation formed in 1995 through a unique partnership between Mendocino County's four incorporated cities and the county to coordinate and support economic development activity county-wide. EDFC’s mission is “Connecting money and ideas with entrepreneurs to create sustainable prosperity in Mendocino County.”
For more information, please contact
Public Relations
john@edfc.org
631 South Orchard Avenue
Ukiah CA 95482
707.467.5953
www.edfc.org
Address & Contact
- Street:
- 631 South Orchard Avenue
- Postcode:
- 95482
- City:
- Ukiah
- State:
- California
- Zip:
- 95482
- Phone:
- (707)-467-5953 • Fax: (707)-467-5901
- Website:
- http://www.edfc.org/
- Category:
- Local Business
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