EDFC Mendocino

http://www.edfc.org/ Economic Development & Financing Corporation

Services
Primary Programs & Services
The Economic Development & Financing Corporation offers a range of services to new and existing businesses. We operate a Business Revolving Loan Fund (RLF) for Mendocino County businesses to provide gap financing for projects, which encourage job creation, investment and expansion.
Business RLF Conditions:

• Loan amounts range from $10,000 – $100,000
• A typical loan package may include local bank participation, an RLF loan, and an equity portion provided by the participating business. Local banks are encourage to participate.
• Terms: One to ten years. Payment deferral possible under certain conditions.
• Jobs: One full-time job must be created for every $55,000 or less, loaned.
• Collateral: Fully collateralized.
• Fees: Loan packaging fee of 1.5% of the loan value, plus billable expenses.
• Business Sector

EDFC of Mendocino County Creating and Retaining Jobs in a Tight Economy

April 22, 2011 Ukiah, CA - The Economic Development & Financing Corporation of Mendocino (“EDFC”) is proud to announce that, in the last year, it has brought into Mendocino County $729,440, loaning out $450,000, creating 34 jobs and retaining 95.5 jobs.

EDFC loans leveraged $4,834,893 of private investment and attracted $9,258,000 of other financing which helped purchase and install a gang array saw at a saw mill and helped renovate and open a retreat center and assisted in the opening of a restaurant.

EDFC is also actively involved in bringing broadband to rural Mendocino County and cultivating a culture of entrepreneurship via a business plan competition.

EDFC is a non-profit corporation formed in 1995 through a unique partnership between Mendocino County's four incorporated cities and the county to coordinate and support economic development activity county-wide. EDFC’s mission is “Connecting money and ideas with entrepreneurs to create sustainable prosperity in Mendocino County.”


For more information, please contact
Public Relations
john@edfc.org
631 South Orchard Avenue
Ukiah CA 95482
707.467.5953
www.edfc.org