Dive summary:

• Santa Paula Materials, a recycling company that turns construction waste into road material, has received a $1.1 million loan from the state of California.
• The company had tried to get a loan from the bank but had no luck for a project of this size; in the end the company got a better deal, only 4% interest, than they would have with a typical bank.
• The money will go towards buying some of the machines that they had previously been renting.

From the article:

"When we think about recycling, usually we think about the things we put out on the curb," said David Goldstein, an environmental resource analyst with the county of Ventura and the administrator of the county's Recycling Market Development Zone. "This is the recycling that creates jobs. This is where recycling is used to turn materials into new products."

The Ventura County Recycling Market Development Zone, one of 35 such zones in California, awarded the loan using state funds. Goldstein said it is one of the program's larger loans. The zone also helps recycling companies through non-monetary methods, such as smoothing the way for permits with cities and other local agencies. ...