EDC-VC to expand loan pool
The Economic Development Collaborative of Ventura County, or EDC-VC, is in negotiations with the U.S. Department of Commerce to remove constraints on an underutilized loan fund that would make nearly $2 million available to Ventura County businesses, regardless of product or industry.
The current fund, called the Earthquake or Disaster Response Revolving Loan Fund, and managed with the County of Ventura, was established in response to the 1994 Northridge Earthquake and is available only to businesses impacted by a presidentially declared disaster, said EDC-VC President and Chief Executive Officer Bruce Stenslie.
He said because of its current limitations, it has been several years since a loan has been made out of the fund.
