Are you looking for:
• Timely and hassle-free access to expansion capital for land, building, or equipment?
• Long-term loans, with no prepayment penalty?
• 10% to 20% low down payment, so you can preserve cash to promote business growth.
• Interest rates that are 20-30% below standard commercial lending rates?
Look no further:
As the recognized statewide leader in advocating expansion of economic development financing
opportunities, CALED is committed to directly addressing gaps in the ED financing arena by
establishing the California Enterprise Development Authority (CEDA) Joint Powers Authority
(JPA). CEDA’s goal is to maximize the availability of capital to California small and medium sized
businesses for expansion and job creation through an innovative gap financing program.
Contact Paula Connors, Executive Director, CEDA
for more information 916-448-8252 ext. 12 or visit www.ceda.caled.org
Come learn more about how economic developers can help you!
The California Association for Local Economic Development is brining their 2009 Annual Training Conference to Monterey, California and is pleased to have Real Estate Media as a sponsor
for this event.
Highlights include:
• This conference is being held in partnership with CA Community Colleges Economic
& Workforce Development Department. Help your business find workers and business
assistance by connecting to these two groups
• Financing sessions: sponsored by CEDA.
• Networking sessions: designed to maximize attendee participation.
Join California’s economic developers at the Monterey Marriott,
April 15-17, 2009 for networking, knowledge, and fun!
Contact Gurbax Sahota, COO, CALED for more information at
916-448-8252 ext. 105 or visit www.caled.org and register today.
CEDA Reminds You that You Do Have Financing Options...Even in This Market
3 California Companies Take Courageous Step to Expand and Invest in Tough Economic Times
Amid the current economic doom and gloom, there is a silver lining
to new growth and economic development in some of the poorest
sections of the state. The California Enterprise Development Authority (CEDA) today announced bonds will be issued for three major
consumer product manufacturers:
• Pocino Foods Company, City of Industry, Los Angeles County:
$9 million
• Kieran Label Corporation, San Diego County : $3 million
• Ramar International Corporation, Pittsburg: $10 million
“The approval of special industrial bond financing arranged by
CEDA and local jurisdictions clears the way for the three companies to expand their operations. This will create more jobs
and higher-than-average wages in impoverished areas where unemployment rates are well above the state average,” said Wayne
Schell, President and CEO of the California Association for
Local Economic Development (CALED). CALED is the professional economic development organization that created CEDA
as a one-stop shop to expand economic development financing
opportunities and maximize availability of capital for small- and
mid-sized businesses.
CEDA is First to Use Federal Mechanism to
Soften Business Credit Risk
Pocino Foods was aided by CEDA in taking advantage of a little-known change contained in the housing stimulus legislation
passed by Congress and signed into law by the President last
summer. That provision, allowed CEDA to be the first issuer
in California of a “support letter of credit” secured from the
Federal Home Loan Bank Board for an industrial development
bond. This means that if a bank’s rating is not strong enough
or the market is skittish (as it has been lately), the company
can pay a fee for a “back-up” letter of credit, which facilitates
the business’s access to expansion capital. With the right timing and success of Pocino in using this new federal mechanism,
CEDA is working to make this new credit tool available to other
