Loan Guarantee

DESCRIPTION
To promote small business enterprises with special emphasis on assistance to those which will create or retain jobs.

USE OF FUNDS
Inventory, accounts receivable, equipment acquisitions, farm production, revolving lines of credit, short and intermediate term loans.

QUALIFICATION
Borrower must have received a commitment from a lender that participates in the guarantee program.

MINIMUM & MAXIMUM AMOUNTS
Maximum guarantee of 80% of loan amount up to $2,500,000 per borrower.

MATURITY 
Maximum of one year on lines of credit. Seven years on term loans.

INTEREST RATE
Market rate as negotiated by lender and borrower.

COLLATERAL
Available business and personal assets, machinery and equipment, accounts receivable, inventory and real property.

FEES
2.50% of the guaranteed portion of the loan and a $250 documentation fee.

Pre-qualify here

Application

California Coastal Rural Development Corporation

221 Main St
Suite 301
Salinas, CA 93901
Phone: (831) 424-1099
Fax: (831) 424-1094
2625 S. Miller St
Suite 106
Santa Maria, CA 93455
Phone: (805) 349-0798
Fax: (805) 623-8396
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