• RMDZ Program Offers Low Interest Rates

    The Recycling Market Development Zone (RMDZ) is a program administered by the Santa Maria Valley Chamber of Commerce, which manages the Santa Barbara Region. This advantageous economic development tool for businesses and manufacturers features a low interest, 4% loan for up to $2 million dollars for projects that qualify. The program is under the jurisdiction of CalRecycle, and the goal is to promote the use of recycled materials in the manufacturing process and to eliminate the amount of manufacturing waste.

    The loan funds can be used for the purchase of machinery and equipment, working capital, real estate improvements, purchase of real estate, or refinancing onerous debt that results in increased diversion.
    While many projects may be eligible, here are a few examples:

    • Modifying or purchasing new equipment that reduces the amount waste or reduces the amount of raw material to make a product. An example would be purchasing new CNC equipment that results in less materials to make a product and accomplishes reduced material waste. 
    • Using discarded or recyclable materials to create a product. An example would be using recycled asphalt to augment new asphalt. Or, using discarded clothing to create industrial rags for commercial use.
    • Cleaning plastic waste and producing recycled-content plastic pellets, flakes or chips. An example would be taking discarded agricultural plastic, cleaning the material and creating pellets that can be recycled for new plastic products.
    The maximum loan amount is 75% of project cost or $2 million, whichever is less. Up to $1 million may be borrowed for real estate purchases. The fixed rate for the loan is 4%, and the loan term cannot exceed 10 years.

    For additional information regarding the Chamber’s Recycling Market Development Zone (RMDZ) program, contact Dave Cross at 805-680-5016 or dave@santamaria.com.