Banks & Credit Unions

Butte Community Bank, Msvl
Rose Daoust, Bank Manager
904 B St
Marysville CA 95901
530.741.0210
530.741.0419
rdaoust@buttecommunity.com

Chase Bank, Marysville
Mr. Michael Goodnight, VP/Business Banker
726 E Street
Marysville CA 95901
530.742-6403
530.742.5429 fax
Ms. Kimberly Ramirez, Branch Manager

Gold Country Bank, NA
Chuck Brooks, President/CEO
519 D Street
PO Box 2488
Marysville CA 95901
530.742.3800
530.741.4860
cbrooks@goldcountrynb.com

Sierra Central Credit Union, Msvl
Jennifer Littlefield, Branch Vice President
422 4th Street
Marysville CA 95901
800.222.7228
530.741.2902 fax
jlittlefield@sccu4u.com

Tri Counties Bank, Marysville
Vineet Bhardwaj, Manager
729 E Street
Marysville CA 95901
530.749.1639
530.743.7003 fax
vineetbhardwaj@tcbk.com

Umpqua Bank, Marysville
Molly Bonser, Store Manager
700 E St
Marysville CA 95901
530.790.2160
530.741.4955 fax
mollybonser@umpquabank.com

Community Development Block Grant (CDBG) Loans

Yuba County CDBG loans provides financing to businesses in Yuba County. The range of loans is from $25,000 to $150,000. The funds are designed to fill gaps in financing and are tailored to the capital needs of the individual's business. The eligible use of the funds are:

• Working Capital
• Furniture, Fixtures and Equipment
• Inventory
• Machinery

This program is designed to encourage the hiring of low-income individuals and specifies that one job be created for every $35,000 loaned.

More information:

Yuba-Sutter Economic Development Corporation
Stephen M. Brammer, President
1227 Bridge St., Suite C
Yuba City, CA 95991-3618
sbrammer@ysedc.org
530.751.8555
530.751.8515 fax

Micro-enterprise Training and Loan Program

Through grant applications under the Community Development Block Grant Program (CDBG) and other programs through the State Trade and Commerce Agency, the Micro-enterprise Training and Loan Program has been established. Individuals and new business owners can access this program once they have completed a 14-week technical training from the Small Business Development Center. Loan funds are available from $150 to $25,000 and are designed to help the new entrepreneur get started. Once loan funds are paid back successfully, the individual or business can access the Revolving Loan Fund for higher loan amounts.

More information:

Yuba College Small Business Development Center
Ken Freeman, Director
1227 Bridge St., Ste. C
Yuba City, CA 95991
kfreeman@yccd.edu
530.822.0140
530.822.0163 fax

California Business Investment Services (CalBIS)

The State has a number of programs available to assist in the development of new capital investment:

Rural Economic Development Infrastructure Program (REDIP)
This program was managed by the State Technology Trade and Commerce Department prior to 2004. The program is available for public or private projects including infrastructure. Eligible programs include water and sewer facilities, streets and roads, storm drains, central wastewater and water plants and collection lines and other facilities to support industrial and commercial activity. Interest rates are set through previously sold bonds at 5.0% with a maximum loan amount of $1,000,000 and a loan period of 15 years. Yuba County is eligible for the program, however, the use of REDIP funds is limited to publicly owned infrastructure projects built for the purpose of supporting private development. Either a public or private entity can apply for the funds. Housing development is not eligible.

Infrastructure Bank
The California Infrastructure and Economic Development Bank is managed by the Business, Transportation and Housing Department. The Bank can provide funds to support infrastructure development or new industry. The purpose of the loan program is to provide a financial incentive for a project, not necessarily a direct tax incentive. Loans range from $250,000 to $10 million per applicant.

More information:

CalBIS
Dave Freitas, Assistant Secretary
801 K Street, Suite 2100
Sacramento, CA 95814
dave.freitas@labor.ca.gov
916.322.0635
916-322-0614 fax

U.S. Department of Agriculture (USDA), Rural Development

Several programs are available:

Community Facilities Loan Program The USDA makes funds available to local agencies for water, sewer and community facilities in the form of loans or grants.

Rural Development Program
Provides seed monies to rural communities for technical assistance to diversify their economy and help develop industries that create jobs, use local resources, and enhance rural lifestyle. Projects include research, recreation, wildlife, timber, minerals, land management, and technology transfers.

Two programs that assist local communities are the Rural Business Enterprise Grant, RBEG and the Rural Business Opportunities Grant, RBOG.

More information:

USDA Regional Office
Ron Tackett
150-D Chuck Yeager Way
Oroville, CA 95965
ron.tackett@ca.usda.gov
530.533.4401 x4
530.533.4936 fax

U.S. Small Business Development Corporation (SBA)

The SBA has a number of programs available.

SBA 7a Loan Program
This program is designed to assist the small business in obtaining both short-term and long-term financing. The interest rate will generally not exceed prime plus 2.75 percent at variable rates. The down payment requirement for the small business will be from 10 to 50 percent.

SBA 504 Loan Program
This program is designed to assist the small business in obtaining long-term, fixed asset financing. The down payment requirement is normally 10 percent, with a private lender providing 50 percent at variable rates and 40 percent is provided through a debenture bond at a fixed rate.

SBA Micro-Loan Program
This program is available to established and startup businesses that have less than 100 employees and less than $5 million in sales. It provides loans in the range of $1,000-$25,000 at a fixed rate. The loans can be used for working capital, inventory, furnishings, real property acquisitions, etc. They cannot be used for debt repayment.

More information:

SBA Sacramento District Office
Jim O'Neil, District Director
6501 Sylvan Road, suite 100
Citrus Height, CA 95610
916.735.1700 Phone
916.735.1719 Fax

HUBZone Empowerment Contracting Program

The HUBZone Empowerment Contracting Program stimulates economic development and creates jobs in urban and rural communities by providing Federal contracting preferences to small business. These preferences go to small business that obtain HUBZone (Historically Underutilized Business Zone) certification in part by employing staff who live in a HUBZone. The company must also maintain a "principal office" in the HUBZone. The program resulted from provisions contained in the Small Business Reauthorization Act of 1997. The HUBZone is located within the same boundaries of the Yuba-Sutter Enterprise Zone with the exception of two census tracts in the south part of the County, Census Tracts 406 and 407.

The HUBZone provides the following contract opportunities:

Competitive: Contracts can be set-aside for HUBZone competition when the contracting officer has a reasonable expectation that at least two qualified HUBZone small business concerns (SBCs) will submit offers and that the contract will be awarded at a fair market price.

Sole-Source: HUBZone contracts can be awarded if the contracting officer determines that only one qualified HUBZone SBC is responsible to perform the contract; two or more qualified HUBZone SBCs are not likely to submit offers; and the anticipated award price of the proposed contract, including options, will not exceed $5 million for a requirement within the North American Industry Classification System (NAICS) code for manufacturing or $3 million for a requirement within all other NAICS codes. Full and Open competitive contracts can be awarded with a price evaluation preference. The offer of a HUBZone small business must not be 10 percent higher than the offer of a non-small business.

Subcontracting: All subcontracting plans for large business Federal contractors must include a HUBZone subcontracting goal. Eligible HUBZone firms can also qualify for higher SBA-guaranteed surety bonds on construction and service contract bids.

More information:

SBA Sacramento District Office
Jim O'Neil, District Director
6501 Sylvan Road, suite 100
Citrus Height, CA 95610
916.735.1700 Phone
916. 735.1719 Fax

Other Programs:

Yuba-Sutter Enterprise Zone