SF’s First African American Small Business Loan is Now Open
Are you a Black business owner impacted by COVID-19?
The City’s African American Small Business Revolving Loan Fund will deploy loans up to $50,000 at 0% interest to support San Francisco Black-owned businesses. There are no fees and no collateral requirements. Long-standing Black-owned businesses and those most severely impacted by the ongoing Shelter-in-Place Health Order will be prioritized. Payments are deferred for the first 12 months and up to 20% of the loan may be forgiven.
Funds can be used for machinery and equipment, furniture and fixtures, inventory, working capital (including payroll, rent, other operating expenses), business debt refinance, tenant improvements, and business acquisition in certain circumstances.
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)
- Demonstrate 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
To begin the loan application process, visit the San Francisco African American Chamber of Commerce’s page. Apply by August 4.
This program is funded by generous donations to the Give2SF COVID-19 Response and Recovery Fund, a public-private partnership. Contribute here.
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