The City of Crescent City is now offering forgivable loans to qualified businesses with Community Development Block Grant (CDBG) funding. The purpose of this program is to provide flexible financing to businesses throughout the county that can create or retain jobs for low-to-moderate-income individuals.
Loan Amounts
Interest Rates
Loan Amounts
Applicants will receive $35,000 per job created or retained, up to $500,000.
Terms
Interest Rates
Loan Amounts
Loans can be forgiven if monthly financial statements are provided to the Program Operator for a minimum of 3 months and jobs are created or retained.
Interest Rates
Interest Rates
Interest Rates
Interest rates will be 1% based on the cash flow needs of the borrower and risk level if loan forgiveness terms are not met.
Loan Fees
Use of Funds
Interest Rates
None.
Eligibility
Use of Funds
Use of Funds
Existing businesses, business purchases, and business start-ups.
Use of Funds
Use of Funds
Use of Funds
Purchase of equipment, inventory, real property, working capital, debt consolidation, etc.
ROUND ONE UPDATE
11 Businesses Assisted and 22 Jobs Created or Retained!
Round One of the Business Assistance Program is officially closed—and what a response! We received 54 applications (48 in the first 15 minutes!) and awarded 11 forgivable loans, helping create or retain 22 local jobs.
Round One Testimonials
Camtech Computer Services
POISE (Pinnacle of Independent Support Experiences)
Torero's Mexican Restaurant
I want to express my sincere appreciation to the City of Crescent City for pursuing funding opportunities that support local businesses like mine.
As the owner of a small computer repair and tech support business here in Crescent City, being selected for a loan has made a meaningful difference. With this support, I’ve been able to hire an additional employee and expand our hours to serve customers seven days a week. I’ve also invested in new inventory and tools for our technicians, upgraded our shop with a new business sign, and purchased a van to provide on-site repair services throughout the county.
These improvements have allowed us to better serve our community and continue growing. I’m truly grateful for the City’s commitment to helping small businesses succeed.
Torero's Mexican Restaurant
POISE (Pinnacle of Independent Support Experiences)
Torero's Mexican Restaurant
We are incredibly grateful to the City of Crescent City for selecting Torero's Mexican Restaurant as a recipient of the Community Development Block Grant (CDBG) Business Assistance Program.
As a family-owned restaurant serving our community since 1993, this forgivable loan has given us the opportunity to invest back into our business while helping us retain local jobs. Programs like this make a real difference for small businesses by providing the support needed to continue growing, improving, and serving our community.
We appreciate the City's commitment to investing in local businesses and strengthening our local economy. Knowing that this program is helping businesses create and retain jobs throughout our community makes us proud to be a part of it.
Thank you to the City of Crescent City and everyone involved in making this program possible. Your investment in small businesses is an investment in the people and families who make our community special.
POISE (Pinnacle of Independent Support Experiences)
POISE (Pinnacle of Independent Support Experiences)
POISE (Pinnacle of Independent Support Experiences)
The City of Crescent City’s CDBG Business Assistance Loan Program has provided POISE with much more than financial assistance, it has given our locally owned organization the opportunity to turn a long-held vision into meaningful action. Through the City’s investment, POISE has been able to establish the staffing, equipment, training, and infrastructure needed to create local employment and expand person-centered services for adults with developmental disabilities in Del Norte County. This program demonstrates what can happen when a city invests intentionally in small businesses that are committed to meeting real community needs.
For POISE, the support has created a foundation for sustainable growth, new jobs, and greater access to services that promote independence, choice, belonging, and opportunity. The City of Crescent City recognized not only the potential of a new business, but the potential impact that business could have on the lives of local residents and families. We are deeply grateful that the City offers a program capable of helping community-based businesses move beyond an idea and become part of the long-term economic and social strength of Crescent City.
ROUND TWO is now officially closed.
This unfortunately marks the end of the 2024 Funding Cycle and we will not be able to apply for more funding until 2028. We see how important and successful this program has been for our community and hope to bring more funding to the program when it is available again.
What's involved?
Click the button below to see what will be required if you are selected to submit a full application.
Round One Application Workshop
Contact Us
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