Economic Development News |
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From Our Executive Director |
As a lender, AEDC works closely with our borrowers. We realize that crises don't always end on a designated time-line. That’s why we continue to have on-going conversations with each of our clients to make sure they're prepared and aware of any upcoming changes headed their way.
For the past six months, the CARES Act has been providing relief to some of our business loan clients by making loan payments for SBA borrowers. However, September will mark the end of that benefit, which means many businesses will be faced with making loan payments as agreed.
Our loan servicing officer, Tony Rodrigues, is currently meeting with borrowers one-on-one, asking them a series of questions about the impact COVID-19 has made on their businesses. This information will allow us to identify new opportunities that will help businesses navigate their way during this difficult time. It's important for business owners to know that they are not alone. At AEDC, our mission is to serve our clients and the economic health of the community, which means working to assure all efforts are exhausted to help businesses succeed.
If you are a business client and you're struggling, do not wait to hear from us. Please call our loan department and let's talk!
—Ross
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Client Highlight: Steelhead Cottages &
Bigfoot Rafting
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If you’re looking for a way to beat the heat, a trip with Bigfoot Rafting is the perfect way to spend a summer’s day. Or, if you’re looking to stay awhile check out Steelhead Cottages.
You'll find Steelhead Cottages tucked away in the quiet, rural town of Big Flat, California. Along the banks of the wild and scenic Trinity River are six fully furnished cabins and six RV spaces with full hook-ups. On the river side of the property, is Bigfoot Rafting Company. From full-day trips, half-day trips, and equipment rentals, Bigfoot Rafting helps adventure-seekers experience the Trinity River like never before.
These companies have been around since 1984, and Brianna Carreira served as manager since 2007. In 2012, she was able to become the owner of a business she was passionate about.
In 2017, Brianna partnered with AEDC to receive a 504 Loan. This allowed her to develop her property as her own business asset. In the past three years, Brianna and her staff have continued to provide outdoor adventures and peaceful getaways for people while continuing to improve their business.
Next time you’re thinking about planning a weekend getaway, check out what Steelhead Cottages has to offer and fill up your itinerary with Bigfoot Rafting!
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With the help of dozens of partners, AEDC has been distributing Personal Protective Equipment to businesses throughout Humboldt County since July 29. So far, about 933 businesses and 9,500 employees have received supplies to help protect their health.
Thank you to all of the organizations and individuals who helped make this distribution successful: the City of Arcata, Ferndale Chamber of Commerce, Fortuna Business Improvement District, McKinleyville Chamber of Commerce, Orick Chamber of Commerce, City of Rio Dell, Southern Humboldt Chamber of Commerce, Southern Humboldt Convention and Visitors Bureau, Trinidad Chamber of Commerce and Willow Creek Chamber of Commerce all arranged to distribute materials in their community.
The Bayshore Mall allowed their parking lot to be used as a distribution location in Eureka. Eureka Police Department helped with traffic management.
The Greater Eureka Chamber of Commerce and Redwood Region Economic Development Commission were supporters throughout the process, rallying volunteers, helping to get the word out to businesses, then helping to continue to distribute materials after the main events.
Don’s Rent-All provided a forklift, pallet jack and a massive container to move materials and store them at the mall for distribution.
Aaron Ostrom from Pacific Outfitters, Chris Barry from Shamus T Bones and Marc McCulloch showed up with trucks and muscles to get the materials from the mall to a variety of distribution sites around town.
Still need PPE supplies? We still have materials that are available! Call AEDC at (707) 798-6132 to get yours.
Additionally, the COVID Economic Resilience Consortium (CERC) is developing a bulk PPE purchasing program for Humboldt, Del Norte, and Mendocino Counties. They are asking all businesses in need of PPE equipment to fill this brief survey out.
Once the information is compiled the PPE, the committee will be in touch to coordinate the next steps, bulk purchasing, and distribution.
If you have any additional questions please contact Alanna Powell at alanna@humboldtmade.com.
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It’s time to change things up for 2020!
This year we’re not just going to make lemonade out of lemons, we’re going to make a difference in Humboldt County’s change shortage! While the pandemic might be able to prevent a single day of lemonade booths, Lemonade Day is more than just a day, it’s a celebration of resiliency in the face of adversity.
Coin Shortage?
You may have heard that there’s a coin shortage lately. But what exactly does that mean?
On June 11, the Federal Reserve admitted that the COVID-19 pandemic has disrupted the “normal circulation patterns for U.S. coin.” (forbes.com) In a statement put forth by the Federal Reserve, the said “In the past few months, coin deposits from depository institutions to the Federal Reserve have declined significantly and the U.S. Mint’s production of coin also decreased due to measures put in place to protect its employees...The Federal Reserve is working on several fronts to mitigate the effects of low coin inventories.”
Participating in the Change Drive is fun & easy! All you need to do is:
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Safely collect change from family, friends (or anyone who is interested in participating!).
- Clean & roll the change.
- Trade it in at a participating bank for cash & a gift!
- Send in your results, and you’ll be entered to win a prize!
- Decide what to do with your cash: Spend Some, Save Some, Share Some?
A full list of trade-in sites is available here. For more information, call (707) 834-6460.
Prizes & Follow Up
The first 500 kids who trade in change will receive a gift from Lemonade Day! All kids who submit their results to Lemonade Day will be entered to win an additional prize as well.
Once you’ve traded in your change, think about what you’re going to do with that money? Lemonade Day encourages you to spend some, save some, and share some!
People are more likely to donate change when they know you plan to donate to a good cause. So, what are you passionate about? Animals, our environment, helping other kids, or what? There are so many nonprofits doing amazing work in Humboldt County. Choose one, and decide how much of the change you collect will be donated to the cause!
Trade-In Locations
Change will be accepted Monday, August 31 through Friday, September 4. A full list of trade-in locations and hours of operation will be available on our website August 29th. More information on trade-in locations to be announced soon!
We’d love to know what you do with your $$$s!
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Arcata Economic Development Corporation
Fax: (707) 798-6130
Tel: (707) 798-6132
707 K Street, Eureka, CA 95501
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