Small Business Developement

the program | loans and interest rates | use of funds | qualifications | fees | contact information

The Program

Located in the heart of downtown San Francisco, the San Francisco Microloan program assists small business owners who need loans of up to $25,000 for working capital, inventory, equipment, and other financing requirements. The program focuses on new businesses, expansion of existing small businesses, and the creation and retention of jobs.

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Loans and Interest Rates

Applicants may borrow $1,000 to $25,000 for a fixed term of 1 to 5 years depending on the needs of the business. For loans of $15,000 to $25,000, the applicant must first be turned down by a bank or private lender. Interest rates currently vary from 10-12% subject to changes in the prime rate.

Use of Funds

Working Capital

Equipment

Furniture and Fixes

Inventory

Leasehold Improvement

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General Qualifications for Microloan Applicants

Moderate to good credit history. Applicants with poor credit can be considered in some cases.

Ability to repay loan from current or projected cash flows.

Cash or equity investment demonstrating owner's personal commitment to the business.

Business is located in or is close to the San Francisco Greater Bay Area.

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Fees

Fees are charged at cost for credit reports and closing documents. A small annual service fee may be charged for larger loans.

Contact Information

For more information, call our office at: 415.543.5302; FAX 415.543.5322

Email us at: [email protected]

For a quick response, fill out the online application form (pdf) and send or fax a copy to us. We will respond within 2 business days.

For more information about Microloan Programs in other geographic areas, see SBA's website, www.sba.gov. Click on "Financing," then "Loan Programs," then "Microloans."

The San Francisco Microloan program in operated by SEACC, with funding from the U.S. Small Business Adminstration and major private sector support from Bank of America.

last updated: 10 August 2000. send web inquiries to: [email protected]