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San Francisco African American Revolving Loan Fund
As you may be aware, the San Francisco African American Chamber of Commerce has partnered with the Mayor’s Office of Economic and Workforce Development (OEWD) to provide assistance to African American small businesses through the African American Revolving Loan Fund (AARLF).
We are jointly announcing the launch of the inquiry form on our SFAACC.org website. The application period is from today at 3:00pm through August 4th at 11:59pm. SFAACC encourages all of our stakeholders who meet the eligibility requirements to apply.
The new loan program compliments Citywide efforts to support micro-enterprises and small businesses historically underserved by private banks and other traditional sources of financing, as well as OEWD’s standing commitments to invest in the City’s historically Black neighborhoods.
Business applicants must:
- Be a for-profit in good standing
- Have a valid San Francisco Business License
- Have a business bank account (or be prepared to open one)
- Document an annual revenue of less than $2,500,000
- Be located or returning to the City of San Francisco unless recently relocated due to COVID-19 and relocation occurred on/or before February 2020
Loan Details Include:
- Up to $50,000
- 0% Interest
- Up to 6 years with option to negotiate
- No fees
- No collateral
Eligible Loan Uses Include:
- Machinery & Equipment
- Furniture and Fixtures
- Inventory
- Working Capital (including payroll, rent, other operating expenses)
- Business Debt Refinance
- Tenant Improvements
- Business Acquisition in certain circumstances
Join the SFAACC on a informational Zoom meeting this Friday, July 24th @ 6:30 PM
Topic: SF African American Revolving Loan Fund Informational Zoom Meeting
Time: Jul 24, 2020 06:30 PM Pacific Time (US and Canada)
Join Zoom Meeting
https://us02web.zoom.us/j/89468353539?pwd=Z0lhUHlIZWNvMU9QYVNjVjdwZlkrdz09
Meeting ID: 894 6835 3539
Passcode: 350214
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Meeting ID: 894 6835 3539
Passcode: 350214
