Details | SAFE-BIDCO Microloan Program


Funder

 

State Assistance Fund for Enterprise, Business, and Industrial Development Corporation

Implementer

 

State Assistance Fund for Enterprise, Business, and Industrial Development Corporation

Description

 

The Microloan Program was created by SAFE-BIDCO to encourage community Economic development and job creation in California by providing funding for small business. This program can fund the majority of a project. However, Loan proceeds may not be used in conjunction with other business financing to meet other lender requirements. The applicant also needs to demonstrate commitment to the project by cash, equity or other types of collateral. All individuals with 25% or more ownership must personally guarantee the loan. The financing may be used for business startup or acquisition, expansion or modernization, inventory, furniture or fixtures, equipment purchases and upgrades, and working capital.

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Secured Loan

Category

 

Financing

Territory

 

California

Applicant type

 

For Profit  |  Non Profit

Project

 

New Addition to an Existing Building  |  Production Process Improvement  |  Real Estate and Asset Purchases  |  Rehabilitation of Existing Whole Building  |  Rehabilitation of Part of an Existing Building  |  Whole New Building Construction

Sector

 

Commercial

Sub-sector

 

City  |  Commercial  |  County  |  Data Center  |  Education  |  Health Care  |  Hospitatlity  |  Industrial  |  Multi Family  |  Retail  |  Single Family  |  Special Districts  |  State

Sustainability

 

Electric Vehicle Charging Infrastructure  |  Electric Vehicles  |  Energy Efficiency in Buildings  |  Energy Management System  |  Energy Storage  |  Generation Systems  |  Water Use Reduction

Additional website

 

Small business

 

True

Disadvantaged communities

 

False

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

3

Maximum repayment years

 

6

Interest rate comment

 

Incentive