Areas Served: Richmond, California
The City of Richmond’s Revolving Loan Fund (RLF) is a community-based program with the goal of fostering local economic growth through creating and retaining employment opportunities for Richmond residents and complementing community and individual development initiatives.
Who Can Apply? The City of Richmond encourages the development of new businesses and the expansion of existing businesses.
Existing businesses within the City of Richmond’s target areas or businesses planning to locate within the target areas are encouraged to apply.
Program application
Revolving Loan Fund Targets – Businesses located within the City’s target areas or committed to locating within the target areas.
– Businesses providing needed services within the target areas.
– Businesses that support or complement and/or business development strategies.
– Businesses that will hire residents from the target areas.
Types of Loans Available – Facade Improvements: Loans that finance the improvement of the exterior appearance of a business site.
– Fixed Assets: Loans used for leasehold improvements renovation, expansion of a structure or purchase of fixed assets.
– Machinery/Equipment: Loans that finance acquisition of machinery and equipment for use in the operation of the business.
– Working Capital: Loans that pay for the cost of business operations.
Available Loan Amounts Eligible applicants may request loan amounts from a minimum of $5,000 to a maximum of $50,000.
Technical Assistance It is the goal of the Richmond (RLF) to do everything possible to insure local small business success.
In order to accomplish this goal, eligible loan applicants may be required to participate in an approved business management assistance program.
Revolving Loan Fund Target Areas The City of Richmond’s target areas include the following census tracts: 3650.01, 3650.02, 3671, 3770, 3790, 3800 & 3810. – Areas near Hilltop Mall (3671) – City portion of North Richmond (3650.02) – Iron Triangle (3760 & 3770) – Marina (3800) – Parchester (3650.01) – South Richmond (3810 & 3790)
Contact InformationCity of Richmond
Address: 440 Civic Center Plaza
City: Richmond
State: California
Website:
http://www.ci.richmond.ca.us/index.aspx?NID=768
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