Financing Business Opportunity  

March 2015
In This Issue
Spotlight on Success
Board News
Program News
New Intern
SBA 504 Rate Update
Partner Spotlight
Quick Links

Join Our Mailing List!
From the Executive Director




It says a lot about the value of an organization when it can recruit and retain talented volunteers and even more when it has valuable community members involved for close to 30 years (see story below about Michael Proulx). Our area has a number of fantastic and contributing organizations  all vying for local expertise on their boards and we are so fortunate to have the commitment and expertise of so many great people serving AEDC and the community through service on our Board of Directors and committees.  


It also says a lot about the relevance of an organization if it can attract young people to help fulfill its mission.  These last two months we've been very pleased to introduce our HSU interns. These future leaders also recognize the value of AEDC and want to help us fulfill our mission to grow the local economy through small business loans and other programs.


Please help us thank these contributing community members. Without them, we could not succeed.




Join Us ! 


The Community is Invited  



Join us as we celebrate our "rock star" entrepreneurs at this always-anticipated annual event


Tuesday, March 31

5:30-7 p.m.

Arcata Theater Lounge

1036 G St, Arcata 


This free event features local food and beverages, live music and an opportunity to learn about the innovative small businesses that support our local economy. You'll also meet organizations that provide business support services to our local entrepreneurs.


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Live Music by: The Undercovers


Sample Food From

Beck's Bakery * Boujie Baking Company  
Brio Breadworks  * Cassaro's Catering  
Celebrations Tamales & Redwood Organics  * Cypress Grove Chevre  
Diane Sweet Heat  * Drakes Glen Creations  * Humboldt Hot Sauce
Los Bagels  * Mad River Farms  
Mike's Southside Barbecue Sauce
Natural Decadence Bakery
Panaderia Ortiz   
Royal Cookie Capers
Sjaak's Organic Chocolates
Wildberries Marketplace . . .and more




Learn from Business Displays presented by 
Financial Resource Center  * Fire & Light  * 
La Dolce Video  *  U. S. Bank
Ohana Organics  * Umpqua Bank
Coast Central Credit Union  * Humboldt Area Foundation  * Redwood Capital Bank
Christina Anastasia  * Brandy Easter  
Crestmark Architectural Millworks Inc
. . . .and more. 



Thanks to our wonderful sponsors



A rc ata Theater Lounge, 
Coast Central Credit Union
Crestmark Architectural Millworks
Eureka Payments
Express Personal
Humboldt Area Foundation
Long Valley Market
Mad River Union
Nilsen Feed
Redwood Capital Bank
The Mill Yard
US Bank
Umpqua Bank

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



Board News  

AEDC Board Member

Michael Proulx


Michael Proulx, a 40 year Humboldt County resident and Humboldt State University Professor, recognized the value of AEDC long ago and has been active on the board for almost 30 years.

"One reason I have stayed with AEDC is that I perceive the agency (and the staff!) as proactive, initiators-people who get things done in the community," he said. "The financial aspects of what we do are important and foster job growth and business growth. However, the community projects are what really motivates me; Lemonade Day, IDA program, loans that have high profile and immediate impact in their communities (Open Door Community Health Clinic in Eureka and soon in Arcata, The Carson Block Project and Sequoia Zoo). These kinds of activities make the entire community feel that things are happening, progress is being made, the economy is improving for many."

Proulx joined AEDC in 1983 on the recommendation of Thea Gast (who was then a city councilmember) and served on a housing committee. That committee's efforts resulted in the Co-op housing program called 

River Community Homes in Valley West. After that initial involvement, he began to learn more about the organization and was soon involved in the Loan Committee and the Board of Directors. He has served on the board twice, from about 1985 to 1998 and 2001 to the present.


"AEDC has become much more sophisticated over the years: employing technology advances for loan processing, accounting, and financial records," Proulx added. "My radar is generally focused on the loan portfolio, monitoring the progress in acquiring loan funds, making good loans, doing damage control on the loans that go bad, and overseeing the overall status of our loan program.... I also want Ross to keep finding great projects for AEDC to involve us all in."

The long-time board member started teaching at HSU 2000 while also working as a counselor for a state disability department. He is now retired but still teaches part-time in the HSU School of Business.


He has been serving as Treasurer and chair of the AEDC Finance Committee for the past 5 years. He has also served as President and Vice-President several times. Proulx is on the Board of Directors of Making Headway and plans to join the board of the Humboldt Trails Council.


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Program News   


On its way... 


AEDC is pleased to continue support of Humboldt Lemonade Day. 


2015 Humboldt Lemonade Day will be Saturday, June 6, with young entrepreneurs operating Lemonade stands throughout Humboldt County.


"The results of Lemonade Day speak for themselves," observed Lemonade Day Coordinator Susan Seaman. "The program is a wonderful way to engage local youth, teach them about owning and operating their own business and develop skills, like customer service, marketing and money handling, that are valuable in any occupation."




2014 Lemonade Day Results


  • Over 200 kids participated, operating approximately 90 stands
  • About 70 glasses were sold per stand, with the average price at around $1
  • Kids received tips averaging $40 per stand
  • Average revenue was $108/stand (almost $10,000 as a county total)
  • Expenses per stand were about $44
  • Average Profit per stand was $64 or $5,757 for 90 stands 
  • 85% paid back their investor; 21% of those who paid back did so with interest
  • 79% met their goals
  • 68% donated to charity (which is significantly higher than the national average)
  • The total donated was about $4,020 - Taking out the two biggest donation outliers, the average donation was $42/stand. 


* Numbers based on average results, calculated from 45 of 90 stands reporting. 



For more information, visit 

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


New Intern  


AEDC Welcomes HSU Intern-Kathryn Brown 


This spring AEDC is fortunate to have TWO Humboldt State University interns assisting with special projects. Last month we profiled Andrew Cook and this month we're pleased to introduce Kathryn (Kat) Brown. Kat will be helping AEDC with  special events and marketing. She'll assist with Spotlight on Success and Lemonade Day, as well as help update the AEDC web page and make better use of social networking opportunities

Kat has lived in various locations throughout California and was drawn to HSU because of the beautiful location and the close proximity to many "outdoorsy" activities like hiking, bird watching, and ocean-kayaking. She is in the 4th year of her Political Science program. After graduation (anticipated next spring) she plans to pursue a graduate degree in finance, economics, or financial engineering.


"As my interests lie in political economics and systems which operate within political economies, I sought an experience based internship which works closely with small businesses and aids in their success," Brown explained. "AEDC was a perfect fit!"


Kat also works at Arcata Countertops as an Administrative Assistant, working closely with the Owner and Manager to oversee job success as well as admin duties and customer service. "Arcata is a wonderful place to live, work, and attend university," she added. "The small community allows for friendships to thrive and be created anywhere. You can usually catch my dog, Mochi, and I exploring forest trails, beaches, and parks."


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

Partner Spotlight  


Small Business Grants Available 



Humboldt Women

is a grassroots organization that awards a $500 grant every month to local women entrepreneurs looking to start, expand or sustain their business. The program launched in January 2015 with a mission to stimulate the local economy while helping women reach their business goals.

Humboldt Women is awarding at least one $500 grant each month. Startups and established businesses are eligible. Applicants need only complete a short questionnaire and submit a $20 entry fee. The deadline for submissions is the 25th of each month. For more information, visit


$   $   $ 


A portion of the cost of Humboldt Women's grants are covered by entry fees, but most of the funding is provided by local donors. If you or your organization would like to contribute to assisting local women in their entrepreneurial endeavors, please email


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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