Small Business Revolving Loan Fund – The City of San Francisco-sponsored Revolving Loan Fund (RLF) is administered by Working Solutions, a nonprofit 501 (c)(3) organization committed to serving new and existing businesses by providing access to capital, including micro loans, and technical assistance. The Revolving Loan Fund loans range from $5,000-$25,000 with loans $25,000-$50,000 available for established businesses with 2+ years in business.
- RLF microloans are up to $50,000
- Interest rates on RLF microloans are fixed and do not exceed 6%
- RLF microloan terms are 5 years, fully amortized
- RLF microloans can be used for start-up expenses, equipment, tenant improvements, working capital, and marketing
- RLF microloans may not be used for personal expenses, debt consolidations, debt refinancing, or research/development of new products
- Preliminary parameters for borrower eligibility are as follows
- A RLF borrower must operate a business that is located within the boundaries of the City and County of San Francisco, and
- A RLF borrower must create or retain at least one full-time equivalent job
StepAhead – Microloan Pilot Program – This microloan program offers loans of up to $10,000 to qualifying small businesses. The purpose of the StepAheadSF pilot program is to provide loans to support small businesses, boost local economy, and create jobs. The program is administered by Working Solutions and will provide loans for three year terms at 8-10% interest rate.
- $5,000 to $10,000 business loans
- Start-up and existing businesses
- Prompt approval and funding
- 3 year term, 8/10% interest rate
- Borrowers should expect a much quicker turnaround time of 4 weeks, and less paperwork. Working Solutions will draw on qualitative information – getting to know the borrower, learning about the business, and understanding the local market – to better assess risk and successfully make loans to a wider group of small businesses.