Capitola Economic Development

New Highlights

Capitola Mall Redevelopment Land Use Study

The Capitola Mall Redevelopment Land Use Study was completed in October 2024. Redevelopment of the Capitola Mall will be reviewed for consistency with applicable zoning development standards, parking standards, and an overlay zone that provides incentives in exchange for community benefits. The study reviewed existing code standards and provides options for improvements to the existing code and suggestions on new economic development tools that could assist in the redevelopment of the Capitola Mall. Capitola Mall Redevelopment Land Use Study

Santa Cruz County Business Resource Network

The Business Resource Network is a talented group of business experts that are well connected in the community and leverage public/private funding and resources to keep Santa Cruz companies competitive. They offer assistance to local businesses in recruitment, workforce training, business advising, business planning, and finances. Contact the Business Resource Network for a consultation at behindeveryemployer.org/santa-cruz.

Santa Cruz County NDC Economic Development Revolving Loan

NDC Economic Development Lending is currently offering flexible lending to small businesses in Santa Cruz County. NDC provides Loans up to $50,000 and Recovery & Growth Loans up to $500,000. Santa Cruz County Small Business Development Center (SBDC) is assisting with the loan application. Please follow the link to the NDC website for more information and to apply.

How to Help Local Businesses:

Loan and Grant Resources:

The Small Business Administration (SBA) is offering the following:

Disaster Loan Assistance, including Economic Injury Disaster Loans (EIDL). For Questions, call 1 800-659-2955.
Debt Relief if you have a current SBA loan
Payroll Protection Program. Applications for this program are distributed and received through an approved lender. These are banks, credit unions and similar institutions. The best first step is to contact your business bank. If you have submitted or have an approved application, use the Disaster Assistance Contact Information: 1-833-572-0502 or e-mail at disastercustomerservice@sba.gov.

Access to Capital:

SBA provides a number of loan resources for small businesses. For more information on loans, or how to connect with a lender, use this link . Here is a basic outline of their programs:

7(a) program offers loan amounts up to $5,000,000 and is an all-inclusive loan program deployed by lending partners for eligible small businesses within the U.S. States and its territories. The uses of proceeds include: working capital; expansion/renovation; new construction; purchase of land or buildings; purchase of equipment, fixtures; lease-hold improvements; refinancing debt for compelling reasons; seasonal line of credit; inventory; or starting a business.
Express loan program provides loans up to $350,000 for no more than 7 years with an option to revolve. There is a turnaround time of 36 hours for approval or denial of a completed application. The uses of proceeds are the same as the standard 7(a) loan.
Community Advantage loan pilot program allows mission-based lenders to assist small businesses in underserved markets with a maximum loan size of $250,000. The uses of proceeds are the same as the standard 7(a) loan.
504 loan program is designed to foster economic development and job creation and/or retention. The eligible use of proceeds is limited to the acquisition or eligible refinance of fixed assets.
Microloan program involves making loans through nonprofit lending organizations to underserved markets. Authorized use of loan proceeds includes working capital, supplies, machinery & equipment, and fixtures (does not include real estate). The maximum loan amount is $50,000 with the average loan size of $14,000

Shop Local:

The Capitola Business Improvement Area has put together a list of open businesses within Capitola Village. Click here to see participating retail shops and restaurants.

A coalition of local tech volunteers, along with Santa Cruz Works, have joined together to create a new website to support local businesses: www.santacruzworks.org/rideoutthewave. Using this website, you can buy gift cards, order products online to be delivered, and more.