In addition to the loan and grant programs offered through the City of Stockton, other loan programs are available to businesses interested in locating within the city.
The City of Stockton provides a choice of programs for property owners to finance the purchase and installation of infrastructure improvements to their properties with no up-front costs for:
Property owners repay the financing through an assessment on their property, collected on the their tax bills at the same time and in the same way as property taxes. If the owner sells the property, the repayment obligation remains with the property and does not need to be paid off at the time of escrow closing. Click on following for specific program information.
The Statewide Community Infrastructure Program is an economic development tool for property owners to finance development impact fees and public capital improvements through low-cost, long-term, tax-exempt financing. This program frees up capital for other purposes.
Selected public capital improvements and the development impact fees to the City will be financed by the issuance of tax-exempt bonds by the California Statewide Communities Development Authority.
The $10 million San Joaquin County Revolving Loan Fund, administered by San Joaquin County Economic and Employment Development Department (EEDD), offers gap financing assistance to business owners or entrepreneurs in San Joaquin County. The loans made through the RLF are for working capital, equipment, leasehold improvements, and purchase of land and buildings to be used by the business.
The RLF will take a subordinate position to conventional commercial lenders and SBA. The RLF will also consider loans with limited collateral and will offer terms of debt repayment. The RLF guidelines seek one job created or retained for each $20,000 of RLF dollars loaned.
The Tracy/San Joaquin County Certified Development Corporation (CDC) is the authorized provider of SBA 504 financing in San Joaquin County. The CDC will waive the deposit requirement for Enterprise Zone businesses. A 504 loan provides long-term, fixed-rate financing at a reasonable interest rate. And the best news is you typically contribute only 10%. A 504 loan is for the purchase and use of long-term fixed assets such as land, building, and/or certain equipment.
Small- and medium-size manufacturers may benefit from Industrial Development Bonds, a low-cost source of financing. (Bond financing can be as low as 75% of prime.) The City and County will also discount the packaging fee by 50%, resulting in substantial up-front savings. Enterprise Zone projects receive first priority.
Enterprise Zone businesses have free access to many of the services offered by the Small Business Development Center. These services include:
California Communities (IDBs)
California HERO Program (PACE)
FIGTREE Energy Financing (PACE)
Tracy/San Joaquin County Certified Development Corporation (CDC) - (209) 951-0801
This City of Stockton web page last reviewed on --- 9/25/2015