California Coastal Rural Development Corporation                                    
AG      NEWS     RELEASE

A new product offering by California Coastal RDC is creating some excitement among produce growers, vineyardists and nurserymen. Now available is a Revolving Line Of Credit which allows growers to draw out funds for purchase of transplants, soil preparation, rent, seed and other input needs. The RLOC allows the borrower to replenish the line when proceeds arrive from the sale of the crops and draw funds again when needed.

The advantage of an RLOC is that it fits well with the rotation of crops and double cropping patterns where the funds flow both directions on a year round basis. The RLOC will help CCRDC gain additional loan customers and provide a needed service to growers of broccoli, celery, lettuce, and other produce. We have approved one RLOC for a vineyard/winery operation and one for a grower of broccoli, squash, and beans who also raises strawberries.

California Coastal Rural Development Corporation is a community based lender that supplies financing for real estate purchases and refinances, equipment, supplies and operating needs utilizing funds from several different programs.   We provide flexible, low cost funding sometimes in partnership with commercial lenders, other times on our own. 

In understanding the industry goals and challenges, Cal Coastal can help growers who are undercapitalized. We can also provide some assistance with their cash flow even if commercial lenders cannot assist.

California Coastal Rural Development Corporation
is located in Santa Maria, 910 East Stowell Road,
Suite 105.

                                Phone Bob, Ruth or Lorena at (805) 349-0798 for additional information.

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