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EDFC History

EDFC was formed through a unique partnership between Mendocino County’s four incorporated cities and the county to coordinate and support economic development activity Mendocino County-wide. This cooperative effort first began at the Mendocino County Economic Development Summit held in the Spring of 1992. The idea was incorporated as a primary objective in the County Overall Economic Development Plan (OEDP) in June of 1993. The EDFC Steering Committee was formed to begin the organizational development process in the Summer of 1994. EDFC obtained official certification as a Community Development Financing Institution (CDFI) in September 2013 and expanded its business into Lake County in 2014.

EDFC works with businesses, industry partner organizations, other non-profit organizations, and local governments to support economic development in Mendocino County. We offer professional services to local jurisdictions in Mendocino County carrying out economic

Funding is provided through local, state and federal government sources. EDFC has participated in the USDA Rural Development Intermediary Relending Program (IRP) since February 2001. The Rural Microentrepreneur Assistance Program from USDA Rural Development was added in December 2014, which significantly increased the organization’s loan capacity. In early 2018 EDFC received a grant from the CDFI Fund and started our first CDFI revolving loan fund.

In April, 2015, an innovative way for local investors to support the local economy was initiated – a Direct Public Offering of Local Social Impact Notes. The DPO’s initial activity raised $354,000 to help fund a start-up – Mendocino Wool & Fiber Mill business located in Ukiah.

As of May, 2018, EDFC had disbursed 97 loans to ultimate recipients totaling $6,018,333. Over 300 jobs have been created as a result of these programs.

In addition to EDFC’s financing activities, the organization was awarded two grants from the Department of the Treasury totaling $231,678 to study the feasibility of small-scale meat processing for Mendocino County.

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