3core

Organization and Nature of Activities 3CORE, Inc. (the Corporation) is a private not-for-profit corporation organized and established in 1985 to serve the rural northern California region of Butte, Glenn, and Tehama and the cities therein. The specific purpose of the Corporation is to be an intermediary for public and private investments that foster a stable and diversified local economy, to improve social, economic, and employment conditions through collaborative partnerships and to implement a sound, long-term strategy that can address identified community needs through the private, public, and nonprofit organizations principally located within Butte, Glenn, and Tehama counties. The Corporation is a federally recognized Economic Development District (EDD), a state and federally certified Community Development Financial Institution (CDFI), and a licensed lender regulated by the California Department of Financial Protection and Innovation (DFPI). Services related to economic development are funded, in part, through various federal grants and matching funds provided by local jurisdictions. The Corporations revolving loan fund program provides financing to local businesses. The funds for the program are derived from various Economic Development Administration Grants, various local grant funds, local matching funds, various equity equivalent investment loans, and reinvestment of interest and loan fees. The Corporation also provides contract services, in part to local government units, related to obtaining and administering grant projects. During the current fiscal year, the Corporation administered various grant programs at the direction of local counties and cities to aid small businesses in recovery from the economic effects of the COVID-19 pandemic.