RCEDA 8.5x11 Report d3

Business Financing The Economic Development Agency can help facilitate financing for bu sinesses through a variety of programs including: Riverside County Small Business Financial Assistance Program Small Business Administration Loans

Industrial Development Bond Financing for Manufacturers EB-5 Foreign Direct Investment Venture Capital Recycling Market Development Zone Loans

During the 2017-18 fiscal year, the first two loans were made from the Riverside County Small Business Financial Assistance loan fund. • Grand Central PalmSprings provides a completely sophisticated, yet casual dining and coffeehouse experience for many Palm Springs residents and visitors to the Coachella Valley. This start-up restaurant received a $70,000 loan for working capital. • The French Rotisserie Café is a farm to table casual restaurant concept focused on rotisserie chicken in a modern French country atmosphere and décor. The Café start-up restaurant received a $50,000 loan through Riverside County’s Revolving Loan Fund for working capital and equipment purchases.

Fast Track As part of its ongoing effort to become the most business-friendly county in the state, the County of Riverside instituted a strike force of development-related departments to begin a process improvement program designed to assist businesses engaged in the County’s land use and permitting processes. In fiscal year 2017-18, EDA launched 4 new industrial and commercial Fast Track projects delivering the following economic impacts:

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