The Business Assistance Program is funded by State grant funds awarded to the County of Lassen by the California Department of Housing and Community Development (HCD) Community Development Block Grant (CDBG) Program.
The Program is designed to provide affordable non-conventional financing to eligible businesses and development projects. The Program is targeted to businesses and projects that have the greatest potential for long-term job creation or retention; particularly jobs created and/or retained for low-to moderate-income persons.
An applicant may be an existing business which needs funds to stay in business or expand. Existing business applicants include private-for-profit business concerns, corporations, and partnerships, sole proprietorships that are legal, licensed and operating. Non-profits are only eligible for assistance if the financing will be used for acquisition of real property or construction.
The Program seeks to assist those businesses and projects that have the greatest potential for long-term job creation and retention, and requires 51% of jobs created or retained with CDBG funding be for individuals from low-to moderate-income households whom must have an annual income at or below 80% of the County’s area median income, adjusted for household size, as published by HCD each year. CLICK HERE for income limits.
The Program will assist businesses and projects including start-up, expansion, or relocation within the unincorporated areas of Lassen County. Businesses located in the incorporated City of Susanville are eligible for funding if the City does not have a similar Program available.
The Program can be used to finance the following:
- Operating Capital;
- Furniture, Fixtures, and Equipment (FF&E);
- Rehabilitation of Leased Space or Owned Buildings;
- Purchase of Manufacturing Equipment;
- Refinancing of Existing Debt (when done in conjunction with financing other eligible costs);
- Government Required Off-Site Improvements:
- Purchase of Real Property;and
- Relocation costs for persons displaced due to funding of the project.
All lending decisions will be made by the Lassen County Loan Committee. Loan terms will generally be more favorable than the private market and will be determined based on the availability of capital and project viability.
The Program has no maximum loan amount; however, amounts are subject to availability of funds. Pursuant to HCD requirements, loans in excess of $250,000 must be formally approved by HCD's Economic Development Advisory Committee (EDAC). This additional EDAC approval typically adds 60 to 90 days to the loan approval process.
Loan amounts will be determined based on the needs of the business, the number of jobs to be created or retained, the ability of the business to service the new CDBG loan payment, and the reasonableness of the costs to be paid for by CDBG.
All outreach efforts will be done in accordance with State and Federal fair lending regulations to assure nondiscriminatory treatment, outreach and access to the Program. No person shall, on the grounds of age, ancestry, color, creed, physical or mental disability or handicap, marital or familial status, medical condition, national origin, race, religion, gender or sexual orientation, be excluded, denied benefits or subjected to discrimination under the Program. The Department will ensure that all persons, including those qualified individuals with handicaps have access to the Program
How Do I Apply?
Call or visit the Planning and Building Services Department at 707 Nevada Street, Suite 1 in Susanville. Regular office hours are from 8:00am to 5:00pm, Monday through Friday.
Phone (530) 251-2683
Fax (530) 257-6599