Storefront Improvement Program (SIP)
The Storefront Improvement Program (SIP) is designed to stimulate building improvements and upgrade the appearance of commercial, non-profit and civic properties in the redevelopment area. The objective of the program is to encourage exterior revitalization of existing commercial structures and replacement of nonconforming signs within the redevelopment project area which is essentially the majority of the City.
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Business Loan Incentive Program
The Coalinga Redevelopment Agency has established a Business Loan Incentive Program (BLIP) to assist and encourage correction of code violations for affected businesses. Partnering with Valley Small Business Development Corporation (VSBD), the Agency will provide funding up to 50% of that which is needed to correct code deficiencies to a maximum of $50,000. The Agency's loan bears simple interest at 3% for a term of 10 years. Requests for up to 100% may be considered on a case-by-case basis by the Redevelopment Agency Board.
PDF Files:Revolving Loan fund
The City of Coalinga Revolving Loan Fund was established to assist businesses destroyed or damaged in the aftermath of the 1983 earthquake. The Revolving Loan fund was capitalized with funds from the Economic Development Administration (EDA) of the U.S. Department of Commerce. The Loan Program is administered by the City of Coalinga in accordance with EDA Guidelines and Requirements. The Loan Program is generally designed for gap financing to assist new and expanding businesses in the City of Coalinga.
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