Financing Business Opportunity  

February 2015
In This Issue
Program News
Board News
Spotlight on Success
New Intern
Partner Spotlight
Chamber News
SBA 504 Rate Update
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From the Executive Director




While there are many opportunities for AEDC to help celebrate and share the success of our local businesses, one of my favorite events is quickly approaching.


AEDC's ninth annual Spotlight on Success: Small Business ROCKS will be held on March 31 at the Arcata Theater Lounge. This celebration provides everyone in the community with an opportunity to get to know our local small business and the entrepreneur "rock stars" who, through hard work and determination, created our successful business community. On hand, we also have business support organizations that provide the services to help our businesses grow successfully.


Please join us at this year's SPOTLIGHT ON SUCCESS to enjoy some local foods and drinks and help us celebrate the success of AEDC clients and partners in our community.  




Program News   




Humboldt Connections welcomes professionals that have been in Humboldt County less than five years who want an opportunity to connect with other newcomers, the community and established county residents. 


The four month program costs $100. Some organizations, such as Open Door Community Health, may offer a limited number of scholarships to their employees. Find registration information here

AEDC is offering the following activities as part of the program. 


March - Humboldt Botanical Garden Foundation

Saturday, March 28; 11 a.m. to 1 p.m. 


April - Humboldt Kinetic Sculpture Race

Thursday, April 30; 5 p.m. to 7 p.m. 


May - Fire & Light Tour

Friday, May 29; 2 p.m. to 4 p.m.


June - Oyster Bed Tour & Oyster Tasting

Saturday, June 27, 11 a.m. to 2 p.m. 




For more information, visit 

Or, contact Susan Seaman at (707)822-4616 or


Board News  

AEDC Board President

Stanley Elcock


The AEDC Board of Directors recently welcomed Stanley Elcock as the new president of the Board.

Elcock is a 3rd generation Professional Civil Engineer, owner of SEE Engineering, co-owner of patent 5,920,938 and has over 25 years experience in the design and construction of buildings, highways, bridges, temporary systems, and construction management.  He has served on the AEDC Board of Directors since 2006 and also serves on the loan committee.

"I am always interested in furthering the mission of AEDC, which is to help businesses be successful by providing loans and support to entrepreneurial, innovative business and community endeavors." Elcock said. "In my role as president, I intend to maintain the current administrative procedures and continue to encourage/support Ross to look for new lending opportunities."


Elcock also serves on the Arcata Rotary and HCAR Boards of Directors.


Also selected for board officer positions are: Michael Proulx, treasurer; and Kathy Montagne, secretary. 


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Save the Date ! 















AEDC invites the community to help celebrate the success of our small businesses at Spotlight on Success on Tuesday, March 31 from 5:30 p.m. to 7:30 p.m at the Arcata Theater Lounge.


This free event offers music, food and an opportunity to learn about the innovative and creative entrepreneurs that help drive our local economy. 


Many AEDC clients and partners will be on hand to share information about their business or agency, provide a demonstration of their services, or offer samples from their Humboldt-based food manufacturing businesses. 




Tuesday, March 31

5:30-7 p.m.



Arcata Theater Lounge

1036 G St, Arcata 

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For more information, contact Susan Seaman at (707)822-4616 or 



New Intern  



Welcomes HSU Intern-

Andrew Cook    



AEDC recently welcomed HSU Junior Andrew Cook as intern for the 2015 Spring semester.


"Andrew will be putting all of our businesses on a map to provide a visual representation of how far and wide our money stretches," said AEDC Program Director Susan Seaman. "He'll also go through our old records and integrate that information with information from our current loan management software to create a comprehensive list of all of our clients for the past 38 years."


Cook transferred to HSU in Fall 2014 from Ventura and is pursuing a major in Economics. "I chose Humboldt because I wanted to experience the small-town feel and I enjoy the outdoors," Cook explained. "I appreciate how helpful my professors are and how motivated they are about relating course material to our local community."


Cook came to AEDC as part of ECON 470s "Sustainable Rural Economic Development",  which is a service-learning course that requires students to work in the community. He  chose AEDC because he wanted to learn about local businesses and about the process of starting one.


The busy college student also works at US Servas, an international peace organization that connects people who are interested in either traveling or hosting travelers to engage in cross-cultural exchange. US Servas is headquartered in Arcata.


Partner Spotlight  


Greenway Partners


"It just make sense," Ross Welch recently said about a budding collaborative partnership between AEDC and Arcata-based Greenway Partners. "Both organizations do everything we can to assist our clients in completing successful projects. This partnership allows AEDC to be involved at the planning stage, rather than coming in at the end when they're ready for financing."


Greenway Partners is a project management firm that uses tools like facilitation, economic analysis design, engineering and planning and construction management to facilitate the completion of community projects. Greenway works in the construction, renewable energy, recreation and natural resource sectors with dozens of projects currently underway. 


About six months ago, Kirk Cohune, Principal at Greenway Partners, contacted AEDC about two Greenway projects-hoping AEDC might be able to help provide supplemental funding.

"The challenge is that we often do community benefit, and not private sector projects, which can make financing more difficult. AEDC has the expertise and financial instruments to underwrite many projects that are otherwise difficult to fund."


Cohune's outreach gave AEDC the opportunity to provide instrumental funding for improvements at the Sequoia Park Zoo and construction of the new Arcata Fire Station.  The budding partnership also gives AEDC access to project management expertise not available in-house.


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Chamber News  

Arcata Chamber Dinner



AEDC wants to thank the Arcata Chamber of Commerce for hosting their annual Chamber Dinner on Saturday, Feb. 21. Over 300 people attended this popular event, including AEDC Executive Director and Chamber Board member Ross Welch. 

Many outstanding local businesses were recognized for 

their achievements and contributions in our community. Those recognized include the Arcata Creamery District for Non-Profit of the Year, Deep Seeded Farm for Green Business of the Year, and Fire and Light for 2014 Business of the Year.  Visit the Arcata Chamber Facebook page for more information and photos of the event  

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Guests enjoying the decor at the 
AEDC - Decorated Table

L-R: Barbara Browning, Ron Sharp, Robin Meiggs, Scott Heller, Julie Vaissade-Elcock, Stan Elcock, Susan Johnson and Bob Johnson


SBA Commercial Property 504 rates


SBA Logo


SBA 504 Current
  • Low down payment for borrowers
  • Competitive fixed interest rate
  • Long Term loan
  • From $50,000 to $5 million for commercial real estate, construction and equipment acquisition.
Many commercial loans available on the market require a sizeable percentage down before the loan will be granted, and this can be an obstacle for many business owners looking to improve their facilities. The SBA 504 Loan offers a solution for that -- you can borrow up to 90% of your financing needs at a fixed rate, so only a minimum of 10% down is required.
The remainder is split between the SBA loan (40%) and a bank loan (50%), and the Arcata Economic Development Corporation will work with your bank to submit your loan application. Loan amounts range from $50,000 to $5 million, and some restrictions apply.  


Kelli Sterling

Loan Manager

(707) 822-4616  Ext 14

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We are proud of the variety of businesses we've served over the years at AEDC. We would love to include you in our family of success stories. 


Visit to get more information about AEDC loans, events and programs. 


Ross Welch
Executive Director
(707) 822-4616 ext. 11