Financial Assistance

Sonoma Valley has two redevelopment project areas, one within the City and one within the Springs neighborhood in the unincorporated area.

For businesses and/or commercial property owners located within the City of Sonoma's redevelopment project area, there are several types of financial assistance available.  Two loan programs, provided by the Sonoma Community Development Agency (CDA) support the goals of economic stability, historic preservation, increased local employment opportunities, and increased local tax revenues.  They are:

• A Business Improvement Matching Funds Program, which provides matching funds in the form of a forgivable loan of up to $10,000 for building rehabilitation, facade improvement, historic preservation, disabled accessibility, and energy efficiency.  View the brochure.
• A Redevelopment Business Loan Program, which provides assistance for improvements to existing buildings on a case-by-case basis, with flexible terms based on the community economic benefits of the project. View the brochure.
  

For business owners and/or commercial property owners in the Springs Redevelopment Area along the Highway 12 corridor, a new loan program is available through the Sonoma County Community Development Commission to support the rehabilitation, renovation, and improvement of existing commercial buildings.

•  The Facade Improvement Loan Program provides forgivable loans of up to $15,000 for exterior improvements such as painting and plastering, signage, awnings, windows and doors, architectural elements, lighting, and masonry. View the brochure.
• The Commercial Rehabilitation Loan Program provides low-interest loans of up to $100,000 for building rehabilitation.  View the brochure.

Both programs also provides professional design services of up to $3,500 at no charge.  For more info, contact Al Lerma, Sonoma County Redevelopment Associate, at (707)565-7523.  

Industrial Development Bond (IDB) financing is a tool for small to medium sized California manufacturers and processors looking to purchase land and construct a building; purchase and rehabilitate and existing building; expand an existing facility; and/or acquire new equipment.  The Economic Recovery and Reinvestment Act of 2009 significantly increased the types of businesses that can utilize low-interest rate, tax exempt IDB financing.  To learn more, visit the website of the California Enterprise Development Authority and their success stories. 

Sonoma's local banks can provide information on various lending programs, including SBA loans.

Loan programs are also available through SAFE-BIDCO (the State Assistance Fund for Enterprise, Business, and Industrial Development Corporation), based in Santa Rosa.   These include SBA Guaranteed Loans, the California Loan Guarantee Program, a microloan program, and energy efficiency loans.