Grow Santa Cruz Loan Program
The City of Santa Cruz has formed a partnership with the National Development Council (NDC), one of the oldest not-for-profit corporations specializing in community and economic development, to offer the Grow Santa Cruz Loan Program.
Loan Program Qualifying Criteria:
- The business must be a for profit entity;
- It must be with within Santa Cruz city limits;
- It must be financially healthy and in need of expansion capital;
- Acceptable uses for these funds can include: machinery and equipment, acquisition of land and buildings, construction, renovations and tenant improvements;
- This is not a venture program and cannot provide funds for research and development or to satisfy equity or near-equity needs.
Average loans will range from $50,000 to $300,000 as permitted by the US Small Business Administration at or below market rates, for terms up to 25 years depending on the proposed use of funds.