Every woman needs support to achieve growth; whether it is personal, business, or professional growth. The City of San Francisco has developed business assistance programs intending to support the growth and expansion of small businesses through loans, grants, and technical assistance. this article discusses the business opportunities, benefits, and grants for women in the City of San Francisco. If you are looking for resources to start or support the growth of your enterprise, please keep reading this article.
SEACC’s Business Department – Small Business Assistance
SEACC’s Business Department provides technical and financial support to women-owned small businesses in Greater San Francisco. For the last three decades, the business department has managed to help over 3,000 enterprises. It is a microlender of the U.S. Small Business Administration and therefore provides microloans to female small business owners who find it extremely difficult to secure loans from traditional banks. Who provides funds to this Business Department? San Francisco Mayor’s Office of Community Investment and the US Small Business Administration finance the department’s activities. The department’s goal is to work with female entrepreneurs and business owners, both at early stages and those seeking further growth. They work with experts to help small businesses through their everyday challenges. You can always inquire about anything because assistance is one-on-one basis. You can always schedule a meeting in person or simply make a call to discuss your issues and needs. You don’t pay anything to get the technical assistance you needed. For more information about the department, please visit http://www.seaccusa.org/small-business-assistance.
SBA 7(m) Microloan Program
The Microloan program is designed for women-owned small businesses in need of financial assistance of up to $50,000 to support the growth of their businesses. Financial assistance is available for both startups and already existing businesses. To qualify for the support program, you must have tried to secure a loan from a traditional ban without success. The loan term ranges from 2 to 4 years. Lines of credit are not required. Your business must also be situated in the City of San Francisco. Once your secure a loan from this program, you can get access to technical support at no cost. The program also provides support in marketing, legal issues, financing, permit renewals. Visit http://www.seaccusa.org/microloan-program for details about the microloan program.
The Office of Economic Workforce Development (OEWD)
OEWD provides financial and technical support to small businesses owned by women. The loan products are funded through community lending circles, lenders, or crowdsourcing. That is to meet the needs of entrepreneurs in every stage of business growth. You can receive up to a $250,000 loan at a flexible rate to help you start, grow and achieve business stability.
San Francisco Small Business Development Center (SBDC)
The SBDC offers free business counseling services to female entrepreneurs and business owners to help them make the right decisions in their enterprises. They also provide the resources, including technical assistance and referrals to support the growth of women-owned small businesses in the City of San Francisco. SBDC specifically works with female merchants affected by the central subway construction. They help you in coming up with a business plan and viable strategies to achieve success. Find out more at http://www.sfsbdc.org/.
San Francisco Small Business Revolving Loan Fund
The Revolving Loan Fund is sponsored by the City of San Francisco and administered by Mainstreet Launch. Mainstreet Launch is a nonprofit organization dedicated to providing funding opportunities, including microloans and technical support to enhance the growth of new and existing businesses owned by women. For more information about the Mainstreet Launch, please visit http://www.mainstreetlaunch.org/. How much financial assistance can you receive from the Revolving Loan Fund? Well, loans range from $10,000 to $50,000 with fixed interest rates. How can you use the program funds? Whether you are starting a new business or need money for purchasing office equipment, furniture, you can apply for the program assistance. You can also use the funds for marketing or as working capital to carry out your daily business operations. Who qualifies for the program support? Your business must be located in the City of San Francisco. Also, as the borrower, you must have at least 1 full-time job. Visit http://www.mainstreetlaunch.org/san-francisco-launch/ to read more about the program.
San Francisco Emerging Business Loan Fund
The Emerging Business Loan Fund (EBLF) supports commercial projects through loans ranging from $50,000 to $250,000. The purpose of this program is to help in originating commercial loans that offer to fund women-owned small businesses and other projects that have the potential of increasing economic growth and generate more jobs in the City of San Francisco. Mainstreet Launch administers this loan program in the City of San Francisco. Visit http://obdc.com/programs/san-francisco/ for more information about the program.
Community Benefit Districts
What is a community benefit district? A CBD is usually formed by members of a given community to enhance the quality of life in that area. Once a neighborhood has voted to start a CBD, the property owners in that area fund the improvements to the neighborhoods. CBDs support the growth and expansion of women-owned small businesses and the overall idea of entrepreneurship to improve the neighborhood’s prosperity. For more information, please visit https://businessportal.sfgov.org/manage/local-resources/city-resources.
BizFit San Francisco
BizFit provides technical assistance to women-owned small business owners to help address the immediate needs of new and existing enterprises. The organization also creates a healthy environment to encourage the growth and expansion of these businesses. The program focuses only on businesses situated in the neighborhoods. Find out more at http://investsf.org/biz-fit-sf/.
The purpose of Job Squad is to support women-owned small businesses through the process of starting a business in the City of San Francisco. It is a team of city staff that helps small businesses navigate through the process of registering and growing an enterprise, have access to resources and stay up to date with relevant information concerning the trends and changes in the marketplace. The team achieves its mission by reaching out to the small businesses within their premises to connect them with the rest of the world. For more information, please visit http://investsf.org/jobs-squad/.