Business Loans

As the regions, lead economic development organization, Yuba-Sutter Economic Development Corporation (YSEDC) has partnered with local jurisdictions, United States Department of Agriculture and local lending institutions to create several loan programs to make credit available to entrepreneurs that may not be able to qualify under conventional lending criteria.  YSEDC's business loan program offers financing to existing and start-up businesses, preparing them for growth and expansion and ultimately strengthening our local economies by creating new jobs.

 

Potential candidates include established small and medium sized businesses or new start-up businesses and can be corporations, partnerships or sole proprietors that are located within Yuba and Sutter Counties.

 

Eligible Uses

Purchase of land, buildings, machinery and equipment

Working capital for inventory, supplies, wages, marketing and advertising

Business start-up costs

Tenant improvements

 

Amount

In general, loans are available from $25,000 to $150,000. Loan requests either larger or smaller that the listed range may also be considered.

 

Terms & Rates

Based on the loan and the borrower needs, interest rate is set at a fixed rate. Currently interest ranges from 8-10 percent.

 

Minimum Requirements

Complete application

Business plan

Creation of one job for every $35,000 borrowed

Adequate new or existing collateral as loan security

Commitment of new equity by the borrower (10% for existing businesses, 20% for start-ups)

Business located within Yuba and Sutter counties

 

How to Apply

Interested businesses must complete a Yuba-Sutter Economic Development Corporation loan application and submit it with a $250 non-refundable application fee to:

 

Yuba-Sutter Economic Development Corporation

950 Tharp Road, Suite 1303

Yuba City, CA 95993

(530) 751-8555