Financing Business Opportunity  

July  2016
In This Issue
Client Spotlight
Community Choice-Energy Meeting
Meet Your Lender
Lemonade Day Results
Quick Links

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From the Executive Director
Many folks anticipate the lazy days of summer but we certainly are not seeing that here at AEDC.

Summer still brings in ambitious entrepreneurs looking for capital to start or grow their businesses. We have partners like the Redwood Coast Energy Authority working hard to identify and implement programs and solutions that will help bolster our local economy. 

I've done some travelling, including attending the Opportunity Finance Network Small Business Forum where I received additional training about the SBA Microloan program, and did some great networking with other CDFI and business lenders from all over the country. 

We have folks like our own Susan Seaman working hard with partners like the Prosperity Network and CALED to plan fall events around important economic development topics like infrastructure (see the Business Leader Lunch below) and workforce development specifically around young professionals.

If you've got some lazy days, enjoy them.  Maybe take a stay-cation and visit our local Redwood Coast Cabins & RV Resort. And we'll make sure you have a busy fall...

Networking in Chicago with colleagues across the country.


 Client Spotlight 
Redwood Coast Cabins & RV Resort

A recent AEDC loan marks the third for Travis Schneider and his wife Stephanie Bode and was used to fund improvements to their recently purchased RV Park-the former KOA RV Park on 101 between Eureka and Arcata.

"Working with AEDC was amazing," Schneider said. "I wouldn't even consider working with anyone else.  Kelli is the best of the best and the staff as a whole not only does a great job facilitating and servicing loans, but makes you feel like part of the AEDC family. "

The couple's newest acquisition includes 89 spaces for recreational vehicles, 32 tent sites for camping, 10 one-room log cabins and 2 deluxe multi-room cabins. Improvements include an office remodel, new trees, fire pits, cleared vegetation and phased improvements, including but not limited to Bocce Ball Courts, a new playground, kangaroo jumper and community room.

The couple also owns and operates Shoreline RV Park and Redwood Meadows RV Resort (formerly Hiouchi RV Resort)). "The business has become a family operation with our kids now participating in operations and maintenance, and of course routinely testing the play equipment," Schneider added.

Both husband and wife grew up in Humboldt County, attended Cal Poly SLO and returned to the area after college.  "We're very grateful for our family, friends and colleagues in Humboldt County.  Our local lending institutions have provided a remarkable platform to launch our careers and further our development, both personally and professionally.  Words cannot describe the impact of the community and our support network has had."

For more information, please visit

Energy Meeting TONIGHT! 
Community Choice Energy
 Public Meeting

Know your power; your opinion matters. Please join us at this community workshop to contribute to planning the energy future of Humboldt County. 

July 28, 2016
5:00 p.m. to 8:30 p.m
Meeting begins at 5:30 pm ; light dinner at 5 pm

Eureka Woman's Club
 1531 J St, Eureka, CA

If you can't join us at this event, please provide your input with survey at 

The Redwood Coast Energy Authority is in the process of launching the Redwood Community Energy Program that will strive to support local economic development and advance the use of local renewable energy resources.  The program will provide the generation component of electricity services, which accounts for around half of a customer's total electricity bill. Pacific Gas & Electric (PG&E) will continue to own and operate the electricity distribution infrastructure and will continue to provide electricity transmission, distribution, reliability, billing, and other related customer services and programs.  Customers will continue to only get one bill, which will be from PG&E; the Community Energy Program's charges for power procurement will replace the current PG&E power generation charges on the bill.
The program is scheduled to begin providing service to customers in the spring of 2017 to participating jurisdictions which currently include the County of Humboldt (unincorporated areas) and the Cities of Fortuna, Arcata, Eureka, and Trinidad.   All customers will receive multiple notices and rate comparisons prior to and during the start of service, and all customers will have the individual choice to opt-out of the program and continue to receive generation services through PG&E (customers can opt-out at the launch or at any time in the future).

 Partner News 

The Prosperity Network Presents a Four-Part Series on

Connecting Our Community in the 21st Century

Creating Infrastructure for Prosperity
Part One:  Aviation and the Economy

Facilitated by: Gregg Foster
Redwood Region Economic Development Commission

*   * * 
Aviation is more than just passenger service.  Our aviation infrastructure supports cargo shipping, public safety, health care, and more.
Our airports can also be centers of commerce, supporting the growth and development of aviation related and compatible businesses.
Join us for a discussion of how we can maximize this important resource to support the growth and diversification of our local economy.

Tours of the California Redwood Coast - Humboldt County Airport
will be available following the luncheon.
FRIDAY * AUGUST 26, 2016 
11:30 am - 2:00pm

Dow's Prairie Grange

Check in/lunch begins at 11:30 a.m. 
Discussion begins promptly Noon and ends at 2 p.m.
Buffet Lunch by Cassaro's Catering.
TICKETS: $25.00

Business Leader Luncheon series is being presented by:
Humboldt County Workforce Development Board
AEDC Small Business Lending Center
Redwood Region Economic Development Commission

The Prosperity Network is soliciting requests for ideas for the other infrastructure related topics. Please send your topic suggestions to: ch 

Meet your Lender  

Jayne Lovig,
Associate Loan Officer 

Jayne Lovig, Associate Loan Officer, has the important task of guiding AEDC clients through the loan process.  "The most satisfying part of my job is being able to actually meet the business owners and customers in my community and apply over 30 years' experience to helping them create and maintain businesses, jobs, and values where we have chosen to live," Lovig explained.

Jayne came to AEDC after working with Wells Fargo Bank (before the days of automation), Great Western Savings & Loan (now WAMU), where she helped to establish the statewide wholesale loan program, a private mortgage insurance company (RMIC) as well as operating her own company performing due diligence auditing for HUD and secondary marketing compliance. At AEDC, Jayne works with loan clients from starting the paperwork through funding. "Jayne's position allows more loans to be processed in a shorter time," AEDC Director Ross Welsh observed. "Which is a real benefit for entrepreneurs seeking funding for their business."

"It is challenging but satisfying to work with our local business owners to make sure that the applicant businesses are thoroughly prepared and ready to become successful business owners," Jayne added.

Jayne is from Orange County and came to Humboldt almost ten years ago.  "After both my daughter's began attending HSU, my husband and I were making at least one road trip every other month or so to visit them.  I kept my eyes open for job opportunities up here since Humboldt felt more like home than what southern California had turned into!  Eventually, AEDC had an opening, and we moved here permanently in January 2008."

Janye and her husband continue to enjoy their Humboldt home, spending much of their free time at the beach agate hunting and with their daughters (and son-in-law and boyfriend), who have remained in Humboldt since graduation.

For more information, visit
Young Entrepreneurship  
Humboldt Lemonade Day a Success

In 2016, local young entrepreneurs operated at least fifty stands throughout the county, located from Redway to McKinleyville.  Stands averaged about $150 in gross revenue and over $100 in profit, with total profits for all stands estimated at $5180.

"Over half of our young businesses owners used the Lemonade Day workbook, which taught them many important business concepts, like the difference between gross and net income, cost of goods and more," noted Susan Seaman, Lemonade Day program manager. "Concepts they will use for the rest of their lives."

57% of participants reported sharing at least some of those profits, with donations averaging about $50 per stand. Recipients included TLC (Triumphant Life Camp), Sequoia Humane Society, Miranda's Animal Rescue, Arcata Police Department K-9 Fund, Redway School, and more.

23 volunteer VIPs also took the time to visit all registered stands to recognize the hard work of participants.  "It's great to watch the business sense and confidence grow with kids who have participated for several years," said Arcata City Council member Mark Wheetley, who has volunteered as a VIP since Humboldt Lemonade Day's founding year. "With the experience they've gained, these kids will be tomorrow's local business leaders."

"All of the participants were stars and well on their way to sharing a passion for success," added VIP christopher Nelson, VP, commercial relationship manager for Umpqua Bank. " Being a Lemonade Day VIP was very exciting, especially watching the big smiles erupt when the kids were presented with their certificates."
"The kids this year really put their all into the presentation and it showed," VIP Cedric Seaman representing NextGen Eureka observed. " sandwich boards, hand-made stands and menu s were present at every stand, showing participants' commitment and pride in their work."

* * * 

Please contact Susan Seaman for information on how YOU can support our youth entrepreneurs by sponsoring 
2017 Lemonade Day or 707-822-4616, ext. 12

* * * 
 Retaining and Engaging Young Professionals

AEDC and California Association for Economic Development will be hosting a panel discussion 
and training workshop focused on

 "Engaging and Retaining Young Professionals in 
Rural Communities" 

When:  Monday, October 3;  1 pm - 5 pm with a reception following.

Location:  TBA

If you know of individuals or organizations that are working on this issue and would like to get involved in the event, please contact Susan at or (707) 798-6132. 

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.

Some refinancing is also 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