• West Oakland
• East Oakland
• San Antonio/Fruitvale areas.

 ELIGIBLE USES:

• Real Estate Acquisition and Tenant Improvements
• Machinery and/or Equipment
• Inventory
• Working Capital

DOWNPAYMENT:

• Min. 5-10% contribution towards project or demonstrate equity in the business
• (Note: many banks require 25-33% contribution)

COLLATERAL:

• Lack of collateral will not be a reason to decline the loan.
• Will secure loan with any business and/or personal assets.
• (Note: Most banks require collateral greater than the loan amount)

CREDIT HISTORY:

• Satisfactory demonstration of paying prior credit obligations
• Bankruptcies – none within the last three years

LOAN TERMS/RATES:

• Very competitive interest rates around 7-9%
• Terms up to 7 years for Working Capital, up to 10 years for Equipment,
• up to 20 years for Real Estate

BUSINESS PLAN:

• Required: very simple outline. Must also provide budget and projections.

OTHER REQUIREMENTS:

• Business should be located in one of the target areas
• Business must meet a national objective such as providing employment opportunities to Oakland residents or providing services to the target areas.
• Business must be a legally established "for profit" company
• Business may qualify for Employment and other Tax Credits incentives

Call us at (510) 238-3703 for more information and assistance!