Areas Served: Ssan Joaquin County
The San Joaquin County WorkNet Revolving Loan Fund (RLF) may be arranged for the startup, retention or expansion of business activities in San Joaquin County, California.
Targeted Customer: For startup, gap financing, expansion or location of businesses in San Joaquin County.
Use of Funds: Acquisition of owner occupied land and facilities, building construction or remodeling, purchase of equipment, furniture, and fixtures, leasehold improvements, working capital needs, and/or inventory.
Method: Direct loan to individuals.
Requirements: 1 job created for every $20,000 loaned, however, each loan request is considered individually, targeted private/RLF financing ratio is 2:1, and ability to repay the loan.
Terms and Interest Rate: 15 years maximum term, and generally not exceeding the full useful life of the assets being financed; minimum interest rate is 5%, however, it is set by the RLF Administrative Board at time of commitment, generally based on the West Coast Low Prime lending rate plus up to 4%.
Loans are targeted from $25,000 – $150,000. Maximum RLF loan is $1.5 million.
Enterprise Zone Benefits: All loan packaging fees will be waived, and 1/2% may be discounted from the interest rate.
Contact Information
San Joaquin County WorkNet
Address: 56 S. Lincoln Street
City: Stockton
State: California
Website:
https://www.sjcworknet.org
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