Truckee CDBG Loans

Town of Truckee Community Development Block Grant

Truckee, CA — The Town of Truckee in partnership with the Sierra Business Council is introducing a program through the CDBG that will provide affordable and flexible financing and technical assistance workshops to eligible residents and businesses of Truckee. CDBG programs are designed to stimulate economic growth and improve the living conditions of residents in the community.

“Small businesses are the backbone of our mountain community, and we are excited to offer this program as a tool for Truckee businesses to start up or expand. Eligible businesses will be provided with the technical assistance, capital infusion, and in-depth counseling to see their businesses thrive,” according to Alex Terrazas, Assistant Town Manager for the Town of Truckee.

The program offers two types of loans to eligible businesses. For income eligible new or existing microenterprises (five or fewer employees including the owner), the program offers low-cost, flexible term financing. Loans are also available for established, larger businesses looking to expand and create jobs in Truckee. Typical loan amounts will range from $10,000 to $50,000.

“We work with so many businesses who struggle to find financing. The capital infusion these loans provide can have a huge impact on our community. We look forward to helping the small businesses and cultivating innovative growth in Truckee through this program,” says Kristin York, Director of Business Innovation at the Sierra Business Council.

Accompanying the loan program is a no-cost workshop series providing participants with critical information to help their business grow and thrive. Topics include a wide range of technical assistance areas including writing a business plan, managing business finances, branding and marketing, and access to capital. While the loan program does have eligibility guidelines, the workshop series is open to all community members.

In addition to the workshop series, participants will be encouraged to take advantage of free and confidential one-on-one business consulting through the Sierra SBDC.

Space is limited at the workshop series and pre-registration is required. To enroll in the workshop series or to learn more about the loan program and its eligibility requirements, please contact Jessica Carr, Program Manager at the Sierra SBDC, at 530-582-5022 or jcarr@sierrabusiness.org.

The funding for these programs is provided by the Department of Housing and Urban Development to the California Department of Housing and Community Development and the Town of Truckee.

Sierra Small Business Development Center and Town of Truckee Award First CDBG Loan 

Truckee, CA – The Town of Truckee in partnership with Sierra Business Council has awarded the first small business loan through the Community Development Block Grant Microenterprise loan program.

The applicant, a Truckee-based adventure tourism company, will use the $50,000 loan to purchase a vehicle and new equipment necessary to improve the company’s offerings to locals and visitors alike. The flexible terms and low interest rate will allow the business to grow without the stress conventional financing can place on owners.

CDBG Loan Programs provide affordable and flexible financing and technical assistance workshops to eligible residents and businesses of Truckee. CDBG Programs are designed to stimulate economic growth and improve the living conditions of residents in the community.

“Locally owned, small businesses are the backbone of the Sierra, and we look forward to fostering the success of Truckee business owners through the CDBG loan program,” says Kristin York, Director of Business Innovation at Sierra Business Council. “It’s especially important during the holiday season to support the businesses in our community and keep our dollars in Truckee.”

Sierra Business Council is currently accepting new applications for the CDBG Loan Program. The program offers two types of loans to eligible businesses. For income eligible new or existing microenterprises (five or fewer employees including the owner), the program offers low-cost, flexible term financing. Loans are also available for established, larger businesses looking to expand and create jobs in Truckee. Typical loan amounts will range from $10,000 to $50,000.

 If you are interested in learning more about the eligibility requirements of the program, or to apply, please contact Jessica Carr, Program Manager at Sierra Business Council, at 530-582-5022 or jcarr@sierrabusiness.org