Monterey County Revolving Loan

DESCRIPTION
Loans to businesses located only in Monterey County.

USE OF FUNDS
Inventory, furniture and fixtures, leasehold improvements, equipment, working capital or business acquisition.

QUALIFICATION
Business must be located in Monterey County. Loan must meet employment criteria of one job created or saved for each $20,000 lent. 

MINIMUM & MAXIMUM AMOUNTS
$5,000 to $250,000. dependent upon geographic location within the county.

MATURITY 
Terms can be up to 25 years on real estate. 10 years on equipment and 5 years for working capital.

INTEREST RATE
Rate tied to prime based on credit evaluation.

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

FEES
$200 non-refundable application fee and 2.00% of loan amount due at time of funding, plus closing costs.

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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