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NEWS IN BRIEF

SBA-504 Rate - The current SBA-504 effective rate for real estate projects is 4.93%. (8.3.10)

Woody's Grill and Bar Honored - Recently, at the California Small Business Day in Sacramento, Assemblyman Ted Gaines honored Woody's Grille and Bar with the award as "California Small Business of the Year".

Banks May Not Be Lending, But SEDCorp Is! - Rocklin is fortunate to have a regional non-profit economic development corporation available to help sustain and grow its businesses and preserve and create jobs. While it's a tight market for small business loans from commercial lenders, SEDCorp is making loans.

Sierra Economic Development Corporation (SEDCorp) was founded more than forty years ago to stimulate economic growth in North Eastern California. SEDCorp provides professional economic development expertise to the public jurisdictions and assists businesses with a wide variety of classes and small business lending.

What distinguishes SEDCorp from commercial lenders is its "high-touch" approach and the flexibility to make loans that the commercial lenders can't make, including for startups. SEDCorp is a direct lender, borrowing funds from a variety of sources and lending it out to qualified borrowers, paying for its operations out of the interest rate margin. SEDCorp does its own underwriting, documentation, closings, and servicing. SEDCorp offers loan programs for loan amounts from $5,000 to $150,000 at very competitive rates with no fees for loans up to $35,000 and only a one percent funding fee for loans between $35,000 and $150,000.

SEDCorp is one of the best-kept secrets in the valley - a too-well-kept secret! So, pass the word and, if you need access to capital, give them a call to find out how they can help make your small business dreams come true! You can reach them at 530.823.4703 or on the web at www.sedcorp.biz.