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Santa Barbara County Food Action Network — Announcing a Unique Financing Option for Food Businesses

by Community Contributor • November 2, 2021 • Comments Off

ABOVE: Meg Brown and Jean Gaillard of Cuyama Homegrown on their Juniper Hill Ranch.
CREDIT: Andrew Hill / PHAROS CREATIVE

Now Accepting Applications

Food System Resilience Loan Program

Apply today.

Apply by November 30, 2021 for priority review
Deadline: December 31, 2021

Many food businesses, especially producers, have been unable to take advantage of traditional financing because there are too many barriers, the structure is too narrow, and other programs are not informed by those who apply for funding. Recognizing this regional need, SBCFAN and the Economic Development Collaborative proudly announce the Food System Resilience Loan Program, providing food businesses an equitable opportunity to access financing, address gaps in our food system, and ensure that their businesses thrive.The Food System Resilience Loan Program is a unique financing option for local food businesses because:

The program was designed with input from local farmers, ranchers, fisherfolk, and food artisans, ensuring that funding available meets the specific needs of the community
Funding can be used to address a variety of needs including working capital, inventory, staffing, and equipment
Terms may be tailored to the food business’ needs and ability to make repayments
The interest rate for this program is lower than standard rates at just 5%

Learn more about terms, eligibility, and how to apply on our website.

Apply today.

About the Economic Development Collaborative

Since 1996, the Economic Development Collaborative (EDC) has been providing a pathway to business growth, economic prosperity and high quality of life for all. Today, the EDC is a regional asset for economic vitality in Santa Barbara, Ventura and Los Angeles Counties, giving businesses, community partners and civic leaders the resources they need to succeed at NO-COST.

Proudly serving as the region’s Small Business Development Center, our program provides free direct business consulting with a team of over 50 business advisors. As a community-based lender with 67% of our loans awarded to women and minority-owned businesses, our loan program focuses on aligning local entrepreneurs with the capital and financial expertise needed to reach their business needs.

Signing up as a client takes just a few minutes and provides you with lifetime access to all of our no-cost services. Resources and advising are available in English and Spanish. The Economic Development Collaborative is funded in part through a cooperative agreement with the U.S. Small Business Administration.

For more information on the EDC visit their website. For a complimentary referral, contact info@sbcfoodaction.org and we will connect you with the appropriate EDC staff.

To see a list of free upcoming webinars that can help your business thrive, visit EDC’s events page.

What are your critical needs?

As we assess our priorities for 2022, SBCFAN wants to know what needs are most critical for you, your farm, your business, and/or your community. Examples may include: funding, advocacy, coordination, land, water, equipment.

SBCFAN connects, aligns, and activates food system changemakers to develop a robust local food economy, a healthy and just community, and a well-stewarded, resilient foodshed