GNS operates a well-seasoned Economic Development Business Loan and Grant Program that is available in specific jurisdictions in Siskiyou County. These loans and grants are intended to create, expand and/or strengthen the capacity of businesses. Each jurisdiction has their own program guidelines for loan and grant approval. In the last 18 years we have successfully secured over 112 business loan and/or grant applications in the amount of $8.85 million from the California Housing and Community Development in EDBG and Over The Counter (OTC) loans resulting in over 390 jobs at a cost of $35,000 per loan.
Click on the links to learn more about current business support, including low interest loan programs in CEDAC Flyer May 2014 and WeedCEDACBrochure.
- Loan funds may be used for start ups, expansion projects, and/or job retention.
- Projects may include operating capital, real property acquisition, equipment, furniture, fixtures and remodeling.
- Interest rates range from 2% – 7%.
- Loans are available to entrepreneurs who are or will hire low to moderate income residents.
- Grant funds up to $10,000 are available to eligible micro-enterprise businesses. Use of funds include marketing, website enhancement or development, computers and/or software, as well as other available soft costs associated with business development.
- Click on the following links to download application materials:
Program Eligibility Requirements
Business Assistance Loan Application Single Owner
Business Assistance Loan Application Multiple Owners
Microenterpise Loan Application Single Owner
Microenterprise Loan Application Multiple Owner
Q. What are the main advantages of these loan programs?
A. Flexible loan terms, they may be adjusted to meet the needs of a successful business, and they can be used for start-ups.
Q. What kind of jobs do I have to create to qualify for the loan?
A. Different loan programs have different requirements. Business Loan Programs require that one job be created or retained for every $35,000 loaned. Micro Enterprise Loan Programs directly benefit the low to moderate income borrower with no job creation requirement.
Q. What kind of documentation do I need to apply for a loan?
A. Expect to submit business and personal financial records, business plan, market analysis and most other documentation generally associated with business loans.
Q. What are some of the additional costs that may be covered by grants?
A. Rent (four months); credit card fees associated with the business credit card machine; internet fees; utilities; register/inventory system upgrades.
Q. Can an applicant receive both a grant and a loan with the program?
Q. Must a grant applicant go through an application process?
A. Yes, the grant applicants must follow the same application process for review and approval as loan applicants.
Economic Development Program Manager, E. Seata Madison 938-4115 ext 113