Location | Chico, California |
Type of Capital | Loan |
Type of Fund | CDFI |
Max Capital | $250,000 |
Focus Area | California-BasedDisaster-AffectedMinority FoundersMinority-LedSmall Business |
3CORE is a private, nonprofit corporation that works as the economic development planning and coordinating agency for California’s Tri-County region, composed of Butte, Glenn and Tehama counties and the nine member cities located therein. We will help you secure your next small business loan. Our mission is to cultivate healthy businesses, because people matter.
3CORE manages multiple revolving loan funds to meet local financing needs. 3CORE loan proceeds may be used for any of the following: Working capital, purchasing land, buildings or existing businesses, purchasing furniture, fixtures, machinery and equipment, business expansions or startups, leasehold improvements and lines of credit. 3CORE typically finances loans between $25,000 and $250,000. However, we will consider requests outside this range under certain circumstances. Loan terms are generally between three and seven years. Loan terms for purchasing land, buildings or businesses may be up to 15 years. Interest rates range between 6 and 10 percent dependent on market conditions. Most loan terms feature a fixed interest rate.
3CORE also has a Small Business Disaster Interruption Loan Program. This is not designed to compete with SBA Disaster Loan Programs, but will compliment those programs by filling potential lending gaps. Program includes business working capital loans in an amount between $10,000 and $100,000, depending on each business’s individual needs. Larger loan requests with alternate rates and terms may also be considered.
By listening intently and tailoring assistance to each specific business’ need, the Tri Counties Bank/3CORE Minority Owned Business Campaign will create a support network. Through mentorship, customized technical assistance engagements and strategic financial assistance, this program will ensure business growth and long-term success.
https://3coreedc.org/loan-program/
[email protected]