Microloans
San Francisco Revolving Loan Fund
Microloans Are Now Available for Qualified Businesses through the
City of San Francisco Revolving Loan Fund!
THIS INFORMATION IS ONLY FOR BUSINESSES LOCATED IN SF.
IF YOUR BUSINESS IS IN THE BAY AREA, BUT NOT IN SF, PLEASE VISIT INFORMATION ON OUR BAY AREA LOAN FUND
Loan Amounts: $5,000 to $25,000 (Loans $25,001 to $50,000 are available as an exception for established businesses with 2+ years in business; underwriting criteria is more stringent.)Interest Rates: 4% to 6% Fixed
Term of Loan: Up to 5 years, fully amortized
Basic Eligibility Requirements: All Businesses
- Have limited or no access to a bank loan
- Business is located in San Francisco
- Create/retain 1 full-time job made available for low/moderate-income individuals
Basic Eligibility Requirements: Startup Businesses
- Significant same industry experience
- Secondary source of income
- A completed written business plan
- Owner's equity injection into the business: at least 20% of the requested loan amount
Basic Eligibility Requirements: Existing Businesses
- Executive summary of the operations and management of the business
- Owner's equity injection into the business: at least 10% of the requested loan amount
Eligible Loan Uses
- Working Capital
- Inventory Purchase
- Equipment & Machinery
- Startup Costs
- Leasehold Improvements
Ineligible Loan Uses
- Personal expenses
- Debt consolidation/refinance
- Payment of existing business debt
Timing: 1 Month
- From the time we receive a completed loan application, it takes 7 to 10 days to receive a decision as to whether a loan request is approved or not
- If a loan is approved, it takes an additional 1 to 3 weeks to fund the loan
Loan Fees
- Application Fee: $25 nonrefundable
- Loan Closing Fee: 3% of the loan amount capped at maximum of $500
- Additional fees may apply in connection with securing collateral, returned checks, late payments and any prepayments made within three months of loan closing
Personal Guaranty
We require a personal guaranty for anyone who owns 20% or more of the business.
Education and Technical Assistance:
- As a requirement of our loans, we create an education plan of free and low-cost workshops about entrepreneurial topics for our borrowers to complete after they receive a loan.
- We also provide ongoing free technical assistance during the life of the loan
Prior to Starting the Application Process
We recommend you review:
- Application Process Page
- Application Checklist of Required Documents: Sole Props or LLCs, Corporations, & Partnerships: Please note: we will require a copy of your 2008 federal tax return.
- Application Forms: Sole Props or LLCs, Corporations, & Partnerships
Orientation Workshops
We no longer require that you attend an orientation workshop about this program.
Instead please contact Sandy Mackovich at 415-655-5472 to schedule a 30 minute eligibility phone call.
Workshops in English
After June 25th, there are no more workshops in English scheduled. Instead, please call Sandy Mackovich at 415-655-5472 to schedule a 30 minute eligibility call.
Workshops in Chinese
- There are no workshops in Chinese scheduled this week. Please contact Agnes Cheung at 415-655-5471 to schedule a 30 minute eligibility phone call.
Workshops in Spanish
- There are no workshops in Spanish scheduled this week. Please contact Emily Gasner at 415-477-8415 to schedule a 30 minute eligibility phone call.
Our services will be provided in English, Chinese, and Spanish.
Loans made pursuant to a Department of Corporations California Finance Lenders License.
This is not a guaranteed loan offer.
All loan applications are subject to review and approval by TMC Development Working Solutions.
This project funded by the City of San Francisco's Mayor's Office of Community Investment
