Take Note: Small Business loans up to $100,000 through the California Rebuilding Fund

Main Street Launch is a participating lender for the California Rebuilding Fund, which offers low-cost capital for businesses impacted by the COVID-19 pandemic.  As many of our small business clients have been financially impacted by Covid-19, especially those who were in the middle of a venture financing round when 2020 struck, we are passing along information about a loan program from Darius Mahajer, our friend at Main Street Launch.

About the loans:

• Loans up to $100,000 that can be used for various business purposes
  
• Current terms include a fixed 4.25% interest rate and 5-year terms
  
• For more information, review the program terms
  

Businesses may be eligible if they:

• Are located in our service area: Oakland, San Francisco, or Stockton
  
• Employ 50 or fewer FTE employees
  
• Have been in operation since June 30, 2019 or earlier
  
• Had net positive income and revenues under $2.5 million in 2019
  
• Demonstrate at least a 25% reduction in revenues in 2020
• Have reopened and returned to at least 30% of pre-pandemic revenues
  

To learn more about the full eligibility requirements, reply to this email or email Darius Mahajer at [email protected].

This blog does not constitute solicitation or provision of legal advice, and does not establish an attorney-client relationship. This blog should not be used as a substitute for obtaining legal advice from an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter in a timely manner, as statutes of limitations may bar your claim.