The fund is aimed at helping small businesses across every county and region of California and nearly all industries, particularly those located in economically disadvantaged and historically underserved areas.
To qualify, small businesses must have employed 50 or fewer full-time equivalent (FTE) employees prior to March 2020 and have realized gross revenues of less than $5 million in 2019, and must have suffered a direct economic hardship as a result of COVID-19.
Full eligibility requirements are on the Am I Eligible? page.
After you complete and submitted the online pre-application, if you meet the basic eligibility requirements, you will be matched with one or more community lenders. If you are matched with more than one lender, you will need to select the lender you want to work with. You will receive an email or call from the lender and begin the full loan application process.
If you are not eligible at this time, you will receive an email with contact information for an organization (“technical assistance provider”) that may be able help you.
Free local support can be found through a number of organizations.
The maximum available loan amount is $100,000 or up to 100% of your business’ average monthly revenues for three months prior to the COVID pandemic outbreak (in 2019 or early 2020), whichever is less. The maximum loan amount available under this program is $100,000.
Example of how your maximum loan is calculated
To determine your business’s average monthly revenues for an estimate of potential loan size, the lender may use the following:
Based on this example, the average revenues for the period is $15,000 so three-months of average revenues would be $45,000. In this example, the maximum loan size would be $45,000.
Please note: The actual size of the loan for which you may be approved will be determined by the lender after review of your business’s documentation and financial information. The amount of the loan for which you are ultimately approved may be less than the amount indicated by the example above. If the average monthly revenues for your business for the three-month period is greater than $100,000, the maximum loan size will be $100,000.
There are two different types of loans offered under this program: one with a 60-month repayment schedule, and the other with a 36-month repayment schedule. Your eligibility will depend on your financial qualifications, which will be determined by the lender.
Proceeds may not be used for refinancing a loan from another community lender but may be used refinance high-cost debt.
You will be required to detail the proposed use of loan proceeds when you apply.
Businesses engaged in certain activities are not eligible. See Am I Eligible? page.
Participating community lenders are responsible for making their own credit decisions. Applications will be reviewed on a rolling basis. We recommend you apply as soon as possible. Due to a limited amount of funding currently available and the high volume of applications expected, we anticipate that not all eligible applicants may be able to receive a loan.
Please note: Additional documentation may be required by the community lender at or after the time of the application in order to approve or underwrite your loan.
Once these documents are received, the community lender will conduct any credit checks and finalize the application review process. If you need support accessing the required documentation, please contact 833-ASK-SBDC or firstname.lastname@example.org or visit the Get Help section.
The online loan process is highly secure. We go above and beyond to protect your sensitive information. The platform uses TDE (Transparent Data Encryption) in SQL (Structured Query Language), which means the data is encrypted. It also encrypts the data between the app server and the database and uses TLS (Transport Layer Security), which protects communications on the internet, for form submissions.
Your information will be used solely for the purposes of the loan program. Among other things, this means that your information may be used in connection with a sale or transfer of your loan, other transactions involving the loan, related research and impact reporting.
The online pre-application can be completed in English, Spanish, French, Russian, Chinese and Korean. Some community lenders also offer help in various languages (see table below).
If you need help with your pre-application in a language other than English or Spanish, please contact the California Small Business Development Centers at 833-ASK-SBDC or email@example.com.
|Community Lender||Languages Available|
|Access Plus Capital||English, Spanish|
|CDC Small Business Finance||English, Spanish|
|Fondo Adelante||English, Spanish|
|ICA||English, Spanish, Tagalog, Japanese, Portuguese|
|Main Street Launch||English, Spanish|
|NAAC||English, Spanish, Chinese (Mandarin), Thai, Vietnamese, Tagalog, Hindi, and Khmer|
|Pacific Community Ventures||English, Spanish|
|Accion Opportunity Fund||English, Spanish|
|Working Solutions||English, Spanish|
2. If you are eligible, you will get matched with one or more community lenders. If you are not eligible at this time, you will receive contact information for an organization (“technical assistance provider”) that may be able to help you.3. Select the community lender you would like to work with and complete your application.
Loans may include minimal third-party fees up to a maximum of $250 such as UCC filing fees or wiring fees, for example.
Please note: If you receive a loan, but do not make your loan payment on time, a late fee may be assessed by your lender. You will be shown any fees associated with the loan prior to your acceptance of any loan terms.
Yes, however, please be aware that the approval parameters for the participating lenders are largely identical. Please do not apply to a second community lender unless your loan has been rejected by the first lender.
The following business support organizations have the tools to help you understand and apply for a loan from the California Rebuilding Fund program.