Financing Business Opportunity  

June  2016
In This Issue
Client Spotlight
Interest Rates Explained
Meet Your Lender
Lemonade Day Volunteers
Quick Links

Join Our Mailing List!
From the Executive Director

Humboldt County has a supportive business culture. I often see and hear many in the community who take pride in encouraging other businesses and offering resources and support when needed. AEDC is proud to be a part of this culture. We want you all to be successful and offer all the tools we can to help make that happen.

Our loan programs are structured to meet the various business lending needs in our community and Tony (profiled below) works hard to help our clients become and stay successful. Our new website is designed to offer the information businesses need to be successful in preparing for the application process, and our door is always open to discuss ideas and answer questions.  
Please feel free to give us a call to discuss your lending needs and let us know how we can help YOU be successful.

AEDC Client Spotlight 

Roundman's Smokehouse

A loan from AEDC allowed the owners of  Roundman's Smokehouse in Fort Bragg to finally own a building they had been leasing for 20 years. " We had been wanting to buy for a long time," co-owner Steve Scu dder explained. "The building finally was put on the market and we were given first option to buy. Call it job security!"
Roundman's produces and sells gourmet smoked fish, meat and cheese, as well as of fering an extensive fresh meat selection and fresh and smoked sausages.  All sausages, smoked meats, and smoked cheeses are made in their own USDA-inspected processing plant. The business also features H-Bench Ranch All Natural Beef from Covelo, California and the company offers custom p rocessing for wild game hunters and local small farmers.
Scudder said he and business partner Steve Rasmussen learned about AEDC from the  Savings Bank of Mendocino County and worked with AEDC to secure the SBA 504 Loan.  The purchase will support continued expansion of the "family-owned, family-operated" business (Roundmans is managed by Scudder's daughter, Stevie Drake-Scudder) and currently serves  Fort Bragg, Mendocino, Little River, Albion, Elk, Gualala, Point Arena, Cleone, Westport, Ukiah, Willits, Laytonville and Anderson Valley. 
"We have a wonderful staff of 14 employees.  A large increase from the
small crew of 3 that we started with 20 years ago and our business has been growing every year," Scudder said. "We reach out to business all the time to process product for them and supply them with our product as well.  The types of businesses that we work with include restaurants, retail markets, ranchers, and other meat companies."

Learn more at
Or visit them at
412 N Main St Fort Bragg, CA 95437
(707) 964-5954

     Store Hours
9am - 5:30pm Monday-Saturday
10am-4pm Sunday
AEDC Launches New Website

AEDC is pleased to announce the launch of our brand new website! With design and production help support from Evenvision, AEDC now provides a more attractive, user friendly and technically updated website offering the information you need about AEDC.  Our new website provides visitors with an easier way to learn about AEDC's programs and services. The new site also features a map showing AEDC's geographic reach and offers updated content including blog posts with tips for applying for business loans, archived newsletters, client success stories, and more.
Visit us at


How do you determine your interest rates?   

AEDC provides financing to small businesses that can't access loans through traditional means.  We have the flexibility to work with borrowers who need funding based on projections, which allows for business start ups and expansions. We can work with a client when collateral is not sufficient for a bank, or the borrower has a less than ideal credit history.  This makes us a "higher" risk lender.  

You may have heard of high risk lenders, those who can make unsecured loans to clients with bad credit. Those agencies are generally predatory and have hidden terms that make their loans more of a burden than a help to their clients. AEDC has flexibility, but still does our best to assure that the loans are safe for both our agency and our clients. (There's nothing generous about a company that will loan you money you can't afford to pay back.)

As a higher risk lender AEDC, and other agencies like ours, do charge a higher  interest  rate than traditional lenders for our basic commercial loans. Ours currently run 8.25% to 9.5%. It may seem counter-intuitive that a new business that needs the most help has to pay a higher  interest  rate, but the rates are calculated so that we have the funding to help the next business that needs a leg up, too. Our extensive loan servicing is an investment that helps new businesses recognize problems early on so that they can be addressed and overcome before they become crippling. AEDC commercial loans do not have pre-payment penalties and borrowers are encouraged to refinance when they become eligible for a traditional loan.

AEDC also works with programs that have lower rate options, with specific criteria for qualification and different terms. Some communities like Arcata, Eureka and Ukiah offer low interest rate programs for borrowers in their communities (sometimes as low as 3%). If a borrower meets the criteria we will try to match them with the those loans first. AEDC is also a Certified Development Company, which means we're allowed to offer lower interest (currently 4.232%) 504 loans for commercial property, made with a partner institution. Our primary goal is to see business succeed, and we will use whatever tools we have at our disposal to make it happen for you. 

If you want to find out more about getting a business loan from AEDC, contact us here
Meet your Lender  

Tony Rodrigues, 
Loan Servicing 

"If you come to our office, you may never see him," says AEDC Program Director Susan Seaman. "If you're a client, you see him all the time." Susan is talking about Tony Rodrigues, who is responsible for AEDC's loan servicing, collections and annual site visits.

" I service our loan portfolio of approximately 105 borrowers," Rodrigues explained. "We cover six counties and I do verification of insurance, annual site visits to each place of business, I document and request annual financials from borrowers and transfer all 
documents into our Laser Fiche program making it paperless."  Rodrigues also manages collections and, when needed, the liquidation of a business, foreclosure of residence, or repo of vehicles and equipment.
"I enjoy what I do at AEDC and the individuals I work with are a pleasure ," he said. "The most rewarding thing about my job is knowing  that I try to keep somewhat a personal relationship with the borrowers and am able to communicate with them, which builds a trusting relationship for myself and AEDC," he said. "The most challenging thing about my job is the 'what if' when a loan goes awry and the liquidation process comes into play."   

Rodrigues was born and raised in Crannell and came to AEDC in 2004. Previously he worked at   Humboldt Bank , where he did Loan Servicing, Real Estate Construction Inspections and more. Prior to that he worked for a retail company for 8 years selling, delivering, and collecting.
For more information, visit
Young Entrepreneurship  
Thanks to our VIPS for Supporting Lemonade Day! 

AEDC would like to thank our very dedicated Lemonade Day VIPs. These volunteers traveled in teams throughout the community, patronizing stands and presenting participants with certificates to recognize their hard work. 

Kathy Thornhill, Humboldt State University
Rebecca Zender, Kelly Services

Sofia Pereira, Arcata City Council  
Michael Winkler, Arcata City Council  
Mark Lovelace, Humboldt County Supervisor
Chris Nelson, Umpqua Bank
Luana Nelson, Community Volunteer 
Mark Wheetley    Arcata City Council  with  son Wyatt

Jack Bareilles, Humboldt County Office of Education
Cedric Seaman, NexGen Eureka
Alison Talbot, PG&E
Bill Reynolds, Humboldt Bay Fire
Kriss Lewis, Tri-Counties Bank with grandson Caden
Brenna O'Sullivan, Lost Coast Rotaract
Mikki Cardoza, Mikki Moves Real Estate
Marian Brady, Eureka City Council
Rex Bohn, Humboldt County Supervisor

Melissa Collins, US Bank
Becky Giacomini, Humboldt County Office of Education
Southern Humboldt
Estelle Fennell, Humboldt County Supervisor
Pat Neighbors, Community Credit Union, Garberville 

Please contact Susan Seaman for information on how YOU can support our youth entrepreneurs by sponsoring 
2017 Lemonade Day

[email protected] or 707-822-4616, ext. 12

* * * 
SBA 504 Refinance Program is permanent
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.

Beginning this month, refinancing will be eligible through the 504 Refinance Program. This was made permanent in late May of 2016. It will help small business owners ease their financial burdens and create incentives for potential expansion and further job creation.  

The 504 loan program, with is long term fixed-rate can help refinance debt from adjustable rate loans with significant savings to borrowers. For more information about this newly re-instated program, contact us at AEDC.

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