Pacific Community Ventures Small Businesses Loan Program

07.22.2012 - Capital Markets

Pacific Community Ventures (PCV) is a San Francisco based non-profit whose mission is to help small businesses grow and prosper, creating jobs in low income communities throughout the Bay Area and Southern California.

PCV’s Business Advising program connects entrepreneurs with valuable resources needed to successfully grow their businesses.  Volunteer advisors are highly skilled business executives and professionals who provide free consulting services on a wide range of disciplines: accounting, banking, finance, human resources, legal, marketing, operations, product development/innovation, purchasing, sales, strategic planning, supply chain management and more.

Details of PCV’s new small businesses loan program follow:

PCV’s Small Business Advising Integrated Lending Loan Fund (SAIL Fund) provides debt capital and resources to high growth Bay Area businesses that create jobs and opportunities in lower income communities.

Product Information and Eligibility Criteria

Borrower

Small Business with the potential to scale

Business must be incorporated in the United States and located in the Bay Area

Minimum two year operating history

Annual revenues between $250,000 and $5 million

Minimum of two employees

Alignment with PCV’s mission to create jobs and economic opportunities in lower income communities

Loan Amount

Minimum $50,000 to maximum of $150,000

Purpose

Working capital

Inventory purchase

Acquisition and/or repair of machinery and equipment

New construction, expansion and/or repair

Acquisition of existing business

Terms

Loan terms range from 1 to 5 years

No penalties for early repayment of loans

All loans will be fully amortized

Automatic withdrawal (ACH) required for all payments

Interest Rate

7% fixed per year

Fees

1% loan fee at time of closing

Direct out-of-pocket expenses, such as filing and documentation fees

Collateral

Collateral required (may include security, pledge and/or guaranty)