Mayor London N. Breed, the Office of Economic and Workforce Development (OEWD), Main Street Launch, and the San Francisco African American Chamber of Commerce announce the launch of the inquiry form for the San Francisco African American Revolving Loan Fund. The Fund, supported by an initial investment of $1.5 million from Give2SF donations, will provide access to capital and financial assistance for African American entrepreneurs and Black-owned small businesses impacted by COVID-19.
 
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:

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• 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 in or returning to the City of San Francisco unless recently relocated due to COVID-19 and relocation occurred on/or before February 2020

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Loan Details Include:

• Up to $50,000 

• 0% Interest

• Up to 6 years with option to renegotiate

• No fees

• No collateral

 

Eligible Loan Uses Include: 

1. Machinery & Equipment

2. Furniture and Fixtures

3. Inventory

4. Working Capital (including payroll, rent, other operating expenses)

5. Business Debt Refinance

6. Tenant Improvements

7. Business Acquisition in certain circumstances

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For questions or for more information, please contact admin@sfaacc.org.