Revolving Loan Fund
18 Years of experience in helping entrepreneurs!
Business Assistance
• Business Plan Development
• Business Seminars
- Financial management
- Business Federal & State Taxes
- Marketing
- Loan orientations
• Computerized Accounting
• Credit Counseling & assistance
Small Business Counseling & Lending Program Use of Funds
• One-on-one business counseling
• Obtain all business licenses
• Obtain business certifications needed for state & federal contracting
• Access to direct loan capital for start up or business expansion
Microloans available for start-up or business expansion for low/moderate income (LMI) entrepreneurs that do not qualify for bank financing, or businesses that create jobs for LMI
• Loans range from $2,000 to $35,000
• A few loans up to $100,000 for expansion of a business
• CDBG funds from the City of Yakima and the SBA Microenterprise Loan Program assures that pre and post business counseling and coaching support is provided to enhance the ability of microenterprises to succeed. The Bank of America also provided TA funds in late 2009.
The loan capital is derived from partnerships with public and private investors. The City of Yakima, USDA, EDA, as well as equity investment loan funds from partnerships with Banner Bank and Bank of America which allow for more flexible lending criteria.
PARTNERSHIPS
One of the critical components of the program are the business educational seminars that are provided as a condition of loan approval. Partnership with Washington State Departments of Labor & Industries and Employment Security, and the Dept of Treasury Internal Revenue Service (IRS) allow specialist from each department to provide quarterly tax seminars for limited English speaking Latino entrepreneurs and start up businesses. These seminars are well attended and connect the departments to establish positive relationships with real businesses.
Once an entrepreneur obtains a loan, the borrower becomes part of the business network and receives on-going support during the term of the loan.
RCDR also partners with New Vision and the newly created Yakima Valley Entrepreneur Network created to be part of the growing interest in entrepreneurs and new business, provide business education and ongoing assistance, offer networking events to connect with other entrepreneurs. www.yakimavalley.biz
2010 Loan Matrix
(Right-click and save to see original size)
NxLevel Instructor Certification
Luz Bazan Gutierrez, President & CEO and Maria DJ Garcia, TA Provider/Loan officer of the Rural Community Development Resource received their certification as NxLevel Instructors by Master Trainer Michael Finnerty, President & CEO of NxLevel, based in Sandy, Utah. NxLevel is a network of business or community service providers who have adopted the NxLevel training modules as their business development training program. The training tested the skills of specialists and consultants that that have experience in the field of business development for entrepreneurs.