For nearly 40 years, RREDC has been making loans to small businesses in Humboldt County.
Over 180 businesses from Garberville to Willow Creek to Orick and everywhere in between have received over $18 million in loans from RREDC. Many well-known local businesses got their start or expanded with our help.
Buying or Expanding a Business?
We can finance up to 90% of the overall project cost on business acquisition and expansion loans. These loans can be made for a variety of purposes such as business acquisition, inventory, equipment, working capital, and/or commercial real estate.
- Loan amounts range from $10,000 to $1.1 million.
- Loan term varies with purpose of the loan. Loan terms range from 5 years for working capital or inventory to 25 years for real estate purchases.
- Interest rates are fixed at 9% to 10%.
Need a Line of Credit?
We can provide lines of credit that can be used for inventory and seasonal working capital requirements.
Need to Refinance Existing Debt?
We can refinance existing debt or accounts payable if it will result in an improvement in business cash flow and help save jobs.
Our loan fund was created in 1978 with a grant from the U.S. Department of Commerce, Economic Development Administration (EDA). Click here for the EDA Website