Financing Business Opportunity  

May 2015
In This Issue
Client Spotlight
Program News
AEDC Geographic Reach
Board Member Spotlight
Community Investing
SBA 504 Rate Update
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From the Executive Director




When I look at the stories in this month's newsletter I am reminded of how many little things we can do that makes a big difference in our community.


We can support our aspiring entrepreneurs by buying a glass (or two) of lemonade on Lemonade Day. We can choose to spend our money locally instead of giving our hard earned money to companies that are hundreds, or even thousands, of miles away.


We can also thank our successful, job providing business owners like Steve O'Meara of Kokatat and Phillip Eldridge, owner of the new Miranda Market and Fueling Station. It is their faith in our community and willingness to stay and invest that we can find employment and be fortunate enough to call the North Coast home. 





Client Spotlight    

Miranda Market 

and Fueling Station 

Residents living in and around the small community of Miranda can now enjoy more choices in their every day shopping experience, thanks in part to an SBA 504 Loan provided by AEDC and Redwood Capital Bank.


"Customers have really enjoyed the changes," noted Kathy Eldridge, general manager of Miranda Market. "We now have a bigger store with more choices, including more organic food and produce."  In addition to an expanded organics selection, customers can also find Brio Bread, Briceland and other local wines, specialty cheeses, fresh floral bouquets and more at the new store.  The market also offers weekly specials and Friday & Saturday BBQ's.


According to Kathy, store owner Phil Eldridge grew up in the area and purchased the market as a means to return. Previously the family owned a cut wholesale flower business in Morgan Hill. They also own and operate the Miranda Gardens Resort and provide 21 local jobs between the two businesses.


In addition to groceries, the store offers a full service deli and fueling station with gasoline, diesel, red diesel and propane.





7:30 am to 8:30 pm Mon  - Sat.  8 am to 8 pm Sun.

Deli Hours Mon - Sun 9 am to 6:30 pm



6685 Avenue of the Giants

Miranda, California



For Specials and Market Happenings, visit them on 



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Program News   

Saturday, June 6


The 5 th Annual Humboldt Lemonade Day is coming on Saturday, June 6 - providing an opportunity for the community to support the county's youngest entrepreneurs.



"As we've noted before, Lemonade Day allows our youth to learn a little bit about what it takes to start and run their own business," said Susan Seaman, Lemonade Day Coordinator. "This community event also offers our youngsters an opportunity to learn essential skills, like money management and customer service,  that are valuable in any workplace,". 


AEDC encourages all community members to support Humboldt Lemonade Day by helping local youth register and participate or by visiting stands and showing support on Saturday, June 6.


For more information or to find a map of stands, please visit  






Local youth can now register for Humboldt Lemonade Day at


All registered youth receive a free Lemonade Day backpack and workbooks designed to help guide them through the business planning process.  Backpacks can be picked up at any Humboldt County US Bank or the Community Credit Union in Garberville.


For more information, visit

or contact Susan Seaman at (707)822-4616 or [email protected]


AEDC Reaches Far and Wide 


AEDC Loans by Geographic Area 


HSU Intern Andrew Cook created a map that shows where commercial capital has been loaned through AEDC in their service area from 1984 through Dec. 31, 2014. See the interactive map here 





Areas served by AEDC include:


Board Member Spotlight 


AEDC Finance Committee member Steve O'Meara has been an integral part of building the Humboldt County economy for years. The founder and president of Kokatat was involved in the organizing committee that led to the forming of AEDC in 1978 and has served on the Board of Directors intermittently for years. Currently  O'Meara serves on the AEDC Finance Committee.


"I have always been interested in economic development as a means of helping families and I was able to bring my experience in starting and running a business to AEDC," O'Meara said. " I have stayed involved because of the work AEDC does.  Offering a wide range of funds available for lending helps business of all sizes with their growth plans."  


 O'Meara founded Kokatat, a former AEDC loan client, in 1971 and has remained committed to keeping the business local. His Arcata factory currently employs about 150 people manufacturing high quality paddle sports apparel and gear. 



Community News  

Invest in Your Community 




Are you interested in finding ways to keep more money in your community?  



Find ten reasons that a small shift in habits can make a difference to your region at                                                  


What can you do to make a difference?

  • Commit to shop local. You don't have to do it for everything, but if everybody made a commitment to a small increase, it can make a huge difference.
  • Commit to spending more on locally produced items, including food, art and other manufactured goods.
  • Participate in Cash Mobs. Participate through Humboldt County Cash Mob monthly opportunities. Find them on Facebook. 
  • Put your money in local banks and credit unions that re-invest in the community.
  • Pay in cash when you can, so local merchants can keep the fees. If you're a merchant who takes credit or debit, use a local merchant services processor.  
  • Develop procurement policies that encourage working with local businesses and service providers for things like purchasing paper, accounting and marketing support.
  • Invest in a crowdfunding project to support a local business.


  • Educate yourself about LIONs (Local Investing Opportunity Networks) and Investment Clubs in order to invest in local businesses.


Contact [email protected] or [email protected]  if you're interested in opportunities to learn more. 



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