Financing Business Opportunity  

June 2015
In This Issue
Client Spotlight
Program News
Business Leader Luncheons
Community Shopping Survey
Community Project
SBA 504 Rate Update
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From the Executive Director




We are officially into summer -- traditionally the time to relax and take a vacation. For business owners, relaxing can seem like a foreign concept and vacations a distant memory.  While it can be tough to think about taking time away, coming back refreshed and recharged can provide the boost your business really needs.

Besides, we live in this beautiful area so that we can enjoy it.  Prioritize Time Off. It reduces stress, refreshes creativity and increases productivity when you return. Of course, you don't want your vacation to be more stressful than working, which can become the case quickly if you aren't prepared, so: 

Delegate. Determine what needs to be done now, what can wait until after vacation, and what needs to be done when you're gone. Once you know, delegate those things that need to be done while you're away.   

Set Expectations. Give clients, employees and others plenty of advanced notice to  set expectations and help your absence go more smoothly

Unplug. Being away but staying in touch by phone and email means part of you will never leave the office. This one is tough for a lot of us but can make your vacation a real vacation.

Remember, even a short vacation can be beneficial. If you only have a long weekend, you don't need to go far. We have beaches, camping, rivers, charming art communities and romantic getaways all within a day's drive, making a nearby trip or staycation a great option. Happy summer! 




Client Spotlight    






Arcata-based Crestmark Architectural Millworks is a full service cabinetry & millwork provider, specializing in the engineering, fabrication and installation of custom millwork products, including veneer paneling, wood cabinetry & fixtures, mouldings and more.  

Most of their projects are located in the Greater San Francisco Bay Area, which includes the Peninsula, East Bay, South Bay and areas as far South as Monterey though they also recently completed all of the custom millwork for the new Redwood Hotel Casino in Klamath.

"Often when local businesses consider selling outside the area, they think they need a different skillset- that it is a different world," observed Sean Olsen, who co-owns Crestmark with his brother Scott. "We found that it is really not so different after all."


Olsen says that the brothers used the same networking principals that many businesses use here locally in order

to establish themselves in the greater Bay Area.  "You

still need to use your contacts-meet people and shake hands. Maybe the networking events are a little bigger than an Arcata Chamber mixer but the same networking ideas still apply. You just need to get in," Olsen said. And Crestmark did. 

One of Crestmark's most notable projects is the San Francisco Museum of Modern Art (MOMA), where they are creating 75 separate modules that include a wide array of highly custom cabinetry, wood wall cladding, solid surface countertops, shelving, cased openings, trim, architectural metalwork, and custom furniture pieces.  Crestmark's contract includes engineering, fabrication and installation of all components.


The Olsens have used AEDC financing to facilitate expansion of their business (tooling, computer system upgrades, leasehold improvements), provide working capital in the early days of the business, and  "front end" large projects.




For more information, visit



Program News   


June 6, 2015 marked the 
5th A nnual 
Humboldt Lemonade Day 

Humboldt Lemonade Day 2015 was another great success for Humboldt County.  AEDC wants to thank  all of our sponsors, volunteers and community members who supported  our hard working local youth during this fun annual event. 

Some Statistics for 2015
  • Average Price $1.21
  • Avg. Cups Per Stand: 58
  • Total Cups: 2,909
  • Total Lemonade Sales: $4,128
  • Avg. Tips: $27
  • Total Tips: $1,351
  • Revenue Average: $188.57 (Revenue includes lemonade sales, other sales and tips) 
  • Total Revenue: $9,428 
  • Expenses average: $37
  • Profit Average: $149.70
  • Total Profit: $7,485 
  • Total Donated from Profits: $2,380



It is important to note that 74% of our young participants paid back their investors (an important real-world part of doing business) and 9% paid them back with interest. 78% met their sales goal and 30% opened a savings account with their earnings.


Charity Contributions 

57% of our young entrepreneurs donated part of their profits to a local charity or non-profit, sharing an average of $84.99. This resulted in $2,380 going to organizations like Humboldt County Breast Health, Discovery Museum,  Pennies for Patients, Faith Center, Miranda's Animal Rescue,  Sequoia Humane Society, Pregnancy Care Center, TLC Campership, Betty Kwan Chinn Outreach, Ridgewood School, Animal Rescue Center, Nature Conservancy and more. 


Statistics extrapolated from survey responses (23 respondents out of 50 stands -or 46% of stand operators).   Total stands were determined by maps plus additional reported by VIPs or self-reported stands. 



For more information, visit

or contact Susan Seaman at (707)822-4616 or


Business Leader Luncheon Series 


Cannabis Legalization-

What could it mean? 


Please plan to attend a series of four quarterly B usiness Leader Luncheons to hear experts and participate in discussions about what cannabis regulation might mean for Humboldt County.


Luncheon One Topic

Small Farms - potential impacts of agricultural and environmental regulation


Wednesday, July 15

12 p.m.-1:30 p.m.

Doors open at 11:30 a.m.



Aquatic Center

921 Waterfront Dr, Eureka




For more information, visit



Community Shopping Survey  

Your Input is Needed 


The Eureka Chamber of Commerce, County of Humboldt, City of Eureka, and Humboldt State University are asking community members to respond to a survey that will help them better understand the spending habits of Humboldt County residents. Their survey is seeking information about where community members do their shopping and what aspects of the shopping experience they value most.


This information will help these agencies explore the economic and community benefits of buying local and allow them to develop strategies to

  • Better support our communities
  • Help local retailers
  • Improve our future shopping experiences
* * * 

The survey should only take 5 minutes and responses are anonymous.  Please only take the survey once.


* * * 


The survey is being coordinated by Humboldt State University MBA student Kate Weaver. If you have any questions, please email

Community Project   

Carson Block Building  


The  Carson Block Building restoration is progressing quickly and expected to be completed by Dec. 31, 2015.


AEDC is a primary supporter of the major seismic retrofit and facade restoration that is bringing the 50,000 + square foot commercial building in the heart of Eureka's Old Town back to its early 19th century glory. 



 The Carson Block Building is located at the corner of 
3rd and F Streets, Old Town Eureka. 


SBA Commercial Property 504 rates


SBA Logo


SBA 504 Current
  • Low down payment for borrowers
  • Competitive fixed interest rate
  • Long Term loan
  • From $50,000 to $5 million for commercial real estate, construction and equipment acquisition.
Many commercial loans available on the market require a sizeable percentage down before the loan will be granted, and this can be an obstacle for many business owners looking to improve their facilities. The SBA 504 Loan offers a solution for that -- you can borrow up to 90% of your financing needs at a fixed rate, so only a minimum of 10% down is required.
The remainder is split between the SBA loan (40%) and a bank loan (50%), and the Arcata Economic Development Corporation will work with your bank to submit your loan application. Loan amounts range from $50,000 to $5 million, and some restrictions apply.  

Kelli Sterling

Loan Manager

(707) 822-4616  Ext 14

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We are proud of the variety of businesses we've served over the years at AEDC. We would love to include you in our family of success stories. 


Visit to get more information about AEDC loans, events and programs. 



Ross Welch
Executive Director
(707) 822-4616 ext. 11