4.5% Loans for Firms That Use Recyclables
Businesses that use recycled materials to make products in Ventura County have less than three weeks to apply for low-interest state loans.
A special county department will accept applications until Sept. 20 for loans to finance business expansion or site acquisition or to provide working capital.
According to county reports, 12 applications have been filed in previous loan cycles. Six were initially approved, for a total of $1.2 million at 4.5% interest.
“When you can offer low-interest loans, you can have products manufactured here,” said David Goldstein, an analyst with the Ventura County Recycling Market Development Zone.
Goldstein said businesses affiliated with the Recycling Market Development Zone now divert about 204,100 tons of material annually from local landfills. According to Goldstein, Simi Valley Base Inc. recently received a $250,000 loan to increase its ability to recycle construction debris. The region uses the concrete and asphalt the company crushes--about 180,000 tons per year--to make roads.
For loan applications, businesses should call the administrators of the Ventura County Recycling Market Development Zone at 648-9242.
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