Financing Business Opportunity  

September 2015
In This Issue
Partner News
Project Spotlight
Business Leader Luncheon
Board Member Spotlight
New Loan Fund
SBA 504 Rate Update
Quick Links

Join Our Mailing List!
From the Executive Director
AEDC finances opportunity.

Many folks know us for our business lending, providing local entrepreneurs with the opportunity to get the financing they need to establish or grow their business. Our new $300,000 SBA microloan fund just expands that capacity. I'm looking forward to presenting at the upcoming BOE Seminar on Sept. 28 to share all the ways AEDC can help capitalize small business.  

We also provide opportunities to collaborate on financing projects, as evidenced by the incredible success of our recent community projects, such as the Arcata Fire Department and the Carson Block Building. This month we can add the Eureka Rescue Mission to that list, allowing that important resource to better provide local services to those in need. 

In October, I will be travelling to SOCAP15 in San Francisco with Greenway Partners and several other community leaders. This Social Capital Markets conference will provide networking and information "at the intersection of money and meaning." I think that's the corner where AEDC spends a lot of time already and I'm optimistic that we'll come back with even more ideas about how to finance more opportunities here on the North Coast. 

Partner News  

Plan to Attend this Free Seminar and Resource Expo

Monday, Sept. 28

AEDC will be part of this valuable seminar being presented by the California State Board of Equalization. Ross Welch will be speaking about loan programs and what a loan officer will look at in an application. Other presenters from the State Board of Equalization, the Employment Development Department, the Franchise Tax Board, the IRS, SBDC and Go-Biz will address many topics important to small business owners including: 
  • the basics of sales and use tax
  • how is an employee different from a contractor
  • better business through record keeping
  • marketing your business and business resources
Non profit organizations will also have an opportunity to learn about how to stay compliant with tax laws. 

For More Information 

Project Spotlight 
The Eureka  Rescue Mission  
Celebrates Expansion
After five years of planning and fundraising, on September 22 Eureka Rescue Mission staff, board and community members gathered to celebrate the groundbreaking of the Mission's new addition.
The project includes construction of a new kitchen, pantry, cafeteria and courtyard directly west of the current building and was funded in part by AEDC.
"Like a lot of AEDC's projects, the Mission was nearly
fundable, but didn't meet all of the requirements of a traditional lender," noted AEDC Executive Director Ross Welch.
Redwood Capital was able to fund the largest portion of the project and AEDC combined funds with Headwaters money in order to fill the funding gap and bring the project to fruition. "AEDC wanted to support this project because it will help alleviate the burden of homelessness in the downtown area, and will help individuals grow out of a high poverty situation by making them available for employment," Welch added. "We were able to use our lending experience to creatively structure a loan that made this project possible for the community."
 * * *   
Educational Opportunity    

The Cannabis Industry-
What will it mean for the Humboldt County Economy?

Please plan to attend the next
Business Leader Luncheon focused on Retail and Dispensaries

The Prosperity Network presents the 2nd in a series of luncheons about cannabis as an industry- focusing on issues surrounding retail and dispensaries. Rob Holmlund, Community Development Director for the City of Eureka, will facilitate the discussion. 

Friday, Oct. 16, 2015
Check in and lunch: 11:30 a.m.
Program: 12 - 2 p.m.

Wharfinger Building
1 Marina Way, Eureka

Thanks to workshop sponsors
Humboldt County Workforce Development Board, AEDC Small Business Lending Center, HSU Office of Research, Economic and Community Development, HSU Institute for Interdisciplinary Marijuana Research, the City of Arcata and the City of Eureka. 

AEDC Board  
Meet Board Member
Becky Price-Hall
AEDC gains its strength, in large part, from the variety of backgrounds and experience contributed by its board members and Director Becky Price-Hall provides a shining example.
Price-Hall grew up in Humboldt County and after attending UC Santa Cruz, she returned to the area to start a business and family with her husband.  "AEDC helped us finance our high-end redwood garden furniture business and was really a cheerleader for us as we went through the ups and downs of running a business," Price-Hall recalled. She later joined the AEDC Board of Directors and has served on the Program and Finance committees.  
"I think my biggest contribution to the AEDC board has to do with my diverse background - I am able to consider things from different perspectives and see possibilities for new partnerships and projects," she said. Price-Hall has been an entrepreneur and owner of a manufacturing business, helped establish the Arcata Night Shelter and associated non-profit corporation, and is currently working for the City of Trinidad as a watershed and grant coordinator. She also helped start another non-profit, the Coastal Ecosystems Institute of Northern California, which acts as a fiscal sponsor for multiple-agency research and planning projects. 

"I am really interested in understanding and applying the best practices for collaborative multi-stakeholder efforts in economic development, increasing community and ecosystem resilience, and improving opportunities for underserved populations," she added. "I am always looking for ways AEDC can  stay on the leading edge of making our region a more healthy, just and vibrant place. I love that AEDC has consistently shown innovation and creativity in approaching economic development."

SBA Microloans  

SBA Awards AEDC $300,000 for microloans
Arcata Economic Development Corporation (AEDC) has been awarded $300,000 in revolving loan funds from the Small Business Administration (SBA) Microloan Program.

The funds will be available to business owners in Humboldt, Del Norte, Lake, Mendocino, Siskiyou and Trinity counties, for fixed rate loans up to $50,000. 

Businesses can use the funds to 
  • Start their business
  • Purchase inventory or equipment
  • Expand a business 
  • Make leasehold improvements 
  • Access working capital

* * * 

Since beginning the SBA Microloan program, AEDC has distributed about $3 million in microloan funds to our region.

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

[email protected]

color map  

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