The Mammoth Lakes Chamber of Commerce has partnered with the Fresno Community Development Financial Institute (CDFI) to create the Grow Mammoth Lakes & Mono County Fund. The Fresno CDFI is a small business loan fund with the mission to grow businesses and jobs in underserved communities.
The fund offers loans up to $300,000 for businesses and up to $50,000 for start-ups. Eligible financing purposes include working capital, equipment, refinance of business debts, tenant improvements and commercial real estate.
For loans under $50,000, applicants will receive pre-approval within one week. The entire process takes about three to four weeks if all documentation is provided in a timely manner. Interest rates are currently between 7% and 9%.
The Mammoth Lakes Chamber of Commerce supports the Fresno CDFI and encourages local businesses to take advantage of their offerings. We are happy to answer any questions you have about this program.
Eastern Sierra Capital Summit – September 22, 2017
In partnership with the Small Business Development Center in Bakersfield and Mono County Economic Development, the Mammoth Lakes Chamber of Commerce is hosting the Eastern Sierra Capital Summit on Friday, September 22 from 9 am to 12 pm. We will be hosting 10-12 representatives from lenders like the Fresno CDFI to talk about small business financing options. More details will be available soon, but please save the date to join us.