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Ag Guide FALL 2021

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Santa Cruz County Economic Development Fund COVID-19 EMERGENCY LOAN Loans up to $50,000 • Term: 7 years at 3.75% interest • Low interest rates, 6 months of interest-only payments • Fees: No application fee; closing cost of $500 will be amortized in the loan Uses of Funds: • Loan proceeds may be used for working capital (including but not limited to payroll, rent, insurance, utilities, etc.) Secured by: • A UCC lien on business assets for loans over $10,000 • All owners owning 20% or more of the business will be required to execute a personal guarantee. RECOVERY LOAN Loans up to $500,000 • Interest Rate: WSJ Prime +1.5% (4.75% today) • Term: 7–25 years depending on asset Uses of Funds: • Can be used for any equipment/machinery or real estate purchase with loan proceeds Secured by: • Collateral is required (equipment/machinery or real estate) • All owners owning 20% or more of the business will be required to execute a personal guarantee. • Located in Santa Cruz County • Operating business, not a passive real estate entity • In business for a minimum of one year • Viable, demonstrating profitability before COVID-19 and have a plan to recover post-disruption • Current on federal income taxes Eligible Businesses Must Be: TO LEARN MORE AND APPLY, CONTACT: Kyle Roseman | Lending Specialist 831-479-6136 kyle@norcalsbdc.org Hydrogen fuel cell = $2,000 incentive Electric new = $1,500; used = $1,000 Plug-in hybrid new = $750; used = $500 New electric motorcycles = $300 ELECTRIC VEHICLE INCENTIVE PROGRAM For residents of Monterey, San Benito, and Santa Cruz Counties www.mbard.org For more information visit our website: Purchase/lease date must be on or after July 1, 2021 24580 Silver Cloud Court Monterey, CA 93940 831.647.9411 Exciting times ahead for Agricultural History Project For the past several years, the Agricultural History Project (AHP) has been planning to develop a Living History Farm next to its present site on the Santa Cruz County Fairgrounds. Work began a couple of weeks ago, removing fences and preparing the area for grading. Plans include building a barn for animals, an orchard, a garden, and a carriage and wagon barn. The expansion will allow AHP to further its goal to tell the story of the history of agriculture on the Central Coast of California. A Capital Campaign with some naming rights will be announced soon. Visit http://aghistoryproject.org for more information. The role of technology in agriculture When asked to think of industries that utilize tech- nology in unique ways, few people may immedi- ately think of agriculture. But technology has left a significant footprint in every industry, and the agricultural sector is no exception. The National Institute of Food and Agriculture notes that modern farms operate a lot differently than the farms of yester- year. Dramatic changes have taken place within the agricultural industry over the last few de- cades, helping farming operations become more efficient and profitable as well as safer and more eco-friendly. Robots, temperature and moisture sensors, aerial images, and GPS technologies are now routinely employed within the agricultural industry. The NIFA notes that the value of such technologies cannot be understated. Thanks to the technol- ogies at their disposals, farmers no longer have to uniformly apply water, fertilizer and pesticides to their farms. Technol- ogy now allows them to use only the minimum amounts required as they zero in on individual plants and target specific areas of their farms. The NIFA notes that the utili- zation of these technolo- gies produces some very real benefits, including: · Higher crop produc- tivity · Reduced impact on natural ecosystems · Less runoff of chemicals into rivers and ground- water · Increased worker safety Safer, more efficient and more eco-friendly oper- ations can only make the agricultural industry more successful in the decades to come. That's especially notable as the world con- tinues to confront climate change and how it might affect the food supply. Though few may recog- nize the role of technol- ogy in modern farming, there's no denying the impact that various technologies have already had on the agricultural industry. And that impact figures to become even more profound in the decades to come. Stock Photo

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