Financing

One of the absolute fundamentals of business is ensuring it is property capitalized. In the event outside funds are needed to purchase equipment, or for such things as operating capital, inventory, real estate, etc., there are many options available. Small businesses traditionally rely upon commercial banks to meet their needs, but there are other available sources that may prove beneficial. Many financing options can be found below.

Business Finance Quick Reference Guide
(Provided as a courtesy by County of Nevada, Housing and Community Service Department)

Community Development Business Loan Programs
Also known as Community Development Block Grant (CDBG) economic development loans, these programs are available to local businesses to: purchase land and improvements, purchase existing building(s) and improvements; purchase machinery/equipment, purchase inventory, or for construction of building(s), or working capital.

Small Business Administration Loan Program

504 Loan: Available for the purchase of land and improvements; purchase of existing building(s) and improvements; construction of building(s), purchase of machinery/equipment with life of 15 or more years; renovation and restoration. Maximum amount: 40% of project; not to exceed $10 million.

7A Loan: Available for the purchase of land and improvements; purchase of existing building(s) and improvements; construction of building(s), purchase of machinery/equipment; working capital; purchase of inventory; and business buy-outs. Maximum guarantee amount is $2 million.

A more detailed description of these loans can be found at  http://www.sba.gov/financing/sbaloan/snapshot.html

United States Department of Agriculture Rural Development

United States Department of Agriculture (USDA) Rural Development is committed to increasing economic opportunity and improving the quality of life for all Rural Americans. With over 40 programs in business, housing and community development, USDA Rural Development provides loans, grants and loan guarantees to help ensure rural citizens have a wide range of economic opportunities. One of the more utilized business programs offered is the Business & Industry Guaranteed Loan program (B&I).  A more detailed description of these programs can be found at:

California Loan Guarantee Program

The Loan Guarantee Program permits Regional Development Corporations to use state funds to guarantee loans made by banks or financial institutions up to 90 percent of the outstanding principal balance with a maximum guarantee amount of $500,000 including grantees for short-term capital. Additional services provided by the Regional Development Corporation include: business plan analysis, entrepreneurial and small business education services; referrals to lenders; and post loan technical assistance.

Housing Resources

The Nevada County Department of Housing and Economic Development Division secures funds for first time homebuyers and housing rehabilitation and weatherproofing for qualified families. The town of Truckee offers a Down-payment Assistance Program.

Angel/Venture Capital

Following is a listing of Web sites of companies that provide angel / venture capital. Please note that Golden Capital Network is very proactive in Nevada County, and may be a good place to start. Some of the sites below will lead you to other sites...

Golden Capital Network
120 West Second Street, #4
Chico, CA 95928
(530)893-8828

Second Angel Bancorp
10217 Fair Oaks Boulevard, 2nd Floor
Fair Oaks, CA 95628
(916)863-7300

Sacramento Angels

The Capital Connection – Angel

The Capital Connection – Venture

Gaebler Ventures
156 North Jefferson Street, Suite 301
Chicago, IL 60661