City of Roseville invests $10 million to advance local small business growth

Updated June 24, 2019
To promote economic growth and job creation, the City of Roseville, in partnership with regionally headquartered banks, is investing $10 million for small business development in Roseville. 

The Roseville Advantage Financing Program puts dollars back into the local economy, delivering additional resources to Roseville business to expand and hire more employees. Over the course of three years, small businesses can apply for loans through American River Bank, First Northern Bank, Five Star Bank, and River City Bank.

“Roseville is committed to creating a city where businesses prosper. With greater access to capital, entrepreneurs and small businesses can pursue more opportunities,” shared Laura Matteoli, City of Roseville Economic Development Director. 

The program puts no tax dollars at risk. Money invested comes from the City’s short-term investment funds. City funds will be fully insured and returned to the City upon completion of the program. 

The participating banks will match the rate of return plus one basis point (equal to 0.01%) the City would have made from its participation in the Local Agency Investment Fund (LAIF). LAIF is a State pooled money investment account for government agencies.

Businesses interested in applying for Roseville Advantage Financing Program loans may contact the following banks. 

American River Bank
(916) 231-6551
Email

First Northern Bank
(707) 678-7878
Email
 
Five Star Bank
(916) 640-1512
Email

River City Bank
(916) 567-2734
Email

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