Financing Business Opportunity  

September 2016
In This Issue
Upcoming Workshop
Client Spotlight
IDA Success
Quick Links

Join Our Mailing List!
From the Executive Director
At AEDC we are uniquely positioned and privileged to be able to help our clients
leverage partnerships and capital to grow their business or make projects happen.
We're at the close of our IDA program as we send off our final cohort from Siskiyou County. For the past ten years IDA participants have been able to leverage their own savings with a 3 to 1 match, allowing them to do much more than they could otherwise.

The Sequoia Park Zoo now offers the community an award winning exhibit thanks, in part, to AEDC's bridge funding.

And we continue to stay abreast and engaged during important economic development discussions. As an example, AEDC is participating with the  California Association of Local Economic Development to offer a fantastic conference that will look at how we can engage and retain youth in order to create a strong and dynamic workforce.

If you haven't partnered with AEDC, yet, we're looking forward to working with you in the future. 

Workforce Conference NEXT Monday!
California Association of Local Economic Development and AEDC Present:  
What story have you been hearing about 
our workforce?
From industry leaders, we hear that we have jobs that we can't fill. Young professionals hear that they must leave Humboldt to find a career opportunity.

This conference will bring industry leaders, young professionals and workforce development professionals in the same room to discuss 
  • Myths
  • Opportunities 
  • Expectation gaps
You're invited to explore this engaging topic, brought to us by the California Association of Local Economic Development and AEDC.

Presentations will include a look at how other areas in California retain young professionals, a reveal of the most recent job statistics in the "Occupations of Opportunity" report, research on the workforce gap between HSU and industry, and a facilitated discussion with industry leaders, career counselors and young professionals about their experiences looking for work and for employees. 

Monday, Oct. 3; 
Conference: Noon to 5 p.m. 
Next Gen Eureka Mixer: 5 p.m. to 6:30 p.m.

Sequoia Conference Center
901 Myrtle Ave, Eureka
Conference: Free 

An optional box lunch from Ramone's will be available for purchase of $13 at the time of registration for those who want it. Please order by Thursday, Sept. 29.

Brought to you by 

 Client Spotlight 
Sequoia Park Zoo Gets National Recognition ! 

The Sequoia Park Zoo's Watershed Heroes, the Zoo's otter, salmon, and eagle exhibits, Learning Lab and watershed play area, recently received Top Honors in the Association of Zoos and Aquariums (AZA) 2016 Award. The zoo was recognized for Exhibit Design for zoos with annual operating budgets under $5 million.

"The Sequoia Park Zoo has received this well-deserved award, which recognizes the Zoo's innovation and commitment in designing a dynamic, immersive habitat that provides the best in animal care and public education to help connect people with nature," said Keith Winsten, Director of the Brevard Zoo and Chair of AZA's Honors and Awards Committee.

Opened in August 2014, the project was the zoo's biggest physical and financial undertaking to date. The $3.4 million, five-habitat exhibit has transformed the entry plaza into a visually engaging and interactive experience showcasing the relationships between North American river otters, bald eagles, local salmon, and humans, while teaching the importance of watershed health.

"We are thrilled to bring national recognition to Eureka and northern Humboldt County," said Zoo Foundation Director Julie Benbow. "Watershed Heroes is the successful result of a public/private partnership that brought together state, city, foundation, and local funding support. The Zoo Foundation approached AEDC to help bridge a funding gap to complete the Learning Lab, an integral part of the exhibit. Their staff provided much needed guidance through the process and helped make the exhibit the award-winning visitor experience it is today."

Visit the Zoo
3414 W St, Eureka

Winter Hours: Tuesday - Sunday, 10am - 5pm
(Open on Veterans Day, M.L.K. Jr. Day, and Presidents Day)

Learn more at
 AEDC News 

Siskiyou County IDA Success  

I n Siskiyou County,  AEDC and Jefferson Economic Development Institute just completed two cohort groups in the Prosperity Independent Development Account program. 

The partnership helped 21 participants develop their businesses by taking business classes and writing a business plan while learning financial literacy skills. While they worked on those skills, they saved money and were matched $3 for every dollar saved as part of the Department of Health and Human Services Assets for Independence program. 

In the program, the participants saved over $25,000 with over $75,000 in matching funds, allowing them to purchase over $100,000 in business assets. 

Their businesses were diverse and included businesses from window cleaning to wellness coordinators. Business owners, were producers, teachers, caregivers, craftsmen . . . and they were all entrepreneurs. 

Group 1 
Kate O'Brien,  Noel Dove,  Craig Balletta,  Christina Caselli, N.D.,  Rebecca Weston,  Rebecca Chase-Schenone,  Mary McChrist,  Shanti Cummins,  Kim Hermanson, PhD

Group 2 (left to right)  Katelynn Kleinhans, Sherri Bilbro, Lauri Sturdivant, Mikaelah Cordeo, Sheri Scott, Renee Getreu and Craig Balleta (Missing: Colin Stewart and Nhimsa Champaneri

* * * 

Meet your Partner  

New North Coast SBDC Director 

The North Coast Small Business Development Center recently welcomed Leila Roberts as their new director

"It's been a whirlwind," Robert admits. "What is striking me most is how excited everyone is at the prospect of a revitalized North Coast SBDC."
When Leila started in August, she brought 20 years of experience growing strong community and economic development institutions, which includes leading international programs building United Ways in 45 countries; running a Planned Parenthood clinic; and consulting on communications and fundraising for nonprofit and small business clients.
The Northcoast SBDC works closely with AEDC by helping potential borrowers prepare business plans, and by assisting current business owners to develop a stronger business. 
"SBDC is a key component of business development," said Ross Welch, AEDC Executive Director. "When businesses need funding they can come to a funder like AEDC. If they don't have their loan proposal in a business plan format, they can go to SBDC to prepare. We refer businesses to SBDC who need technical assistance, and SBDC does the same for their clients who need funding. It's a very collaborative relationship."  
Leila has a master's degree in the Management of Sustainable Development. She and her husband John are relative newcomers to the area but she is already volunteering with the North Coast's True North Organizing Network, and also volunteers for the national Move to Amend Coalition. "We've lived in many places around the world and I am unbelievably happy that John and I chose to put down roots here in Humboldt County and stay," she said.
"I was warned that the North Coast SBDC was one of the region's best kept secrets," Roberts added. "And I aim to change that.  I want Humboldt and Del Norte county entrepreneurs to know how much they can count on us for support."
North Coast SBDC: 
Helping our local businesses start, grow, and thrive in Del Norte, Humboldt & Tribal Lands

SBA 504 Refinance Program is permanent
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.

Some refinancing is also eligible through the 504 Refinance Program. This was made permanent in late May of 2016. It will help small business owners ease their financial burdens and create incentives for potential expansion and further job creation.  

The 504 loan program, with is long term fixed-rate can help refinance debt from adjustable rate loans with significant savings to borrowers. For more information about this newly re-instated program, contact us at AEDC.

Kelli Sterling
Loan Manager
(707) 798-6132  Ext 214

color map  

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) 798-6132 ext. 211