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San Diego County COVID-19 Small Business & Nonprofit Loan Program | Open Applications

San Diego County COVID-19 Small Business & Nonprofit Loan Program is Accepting Applications

San Diego, CA. June 11, 2020. We are pleased to report that the San Diego County COVID-19 Small Business & Nonprofit Loan Program (SBNLP) is accepting applications now through Wednesday, July 7.

We thank Mission Driven Finance for serving as the deployment partner for the SBNLP and The San Diego Foundation for its partnership in building this loan fund.

It is hoped that this loan program will enable nonprofits and small businesses to safely reopen and continue serving our communities.

For more information about eligibility for the loan and to register for the informational session scheduled for this Friday, June 12, see the full announcement below.

 

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This global recognition of the deep roots of racism reinforces how critical it is to use all the tools in one’s toolbox to advance racial justice. As such, finance can and should be used as a tool for change in advancing economic and health equity in our communities.

Nonprofits are a vital part of addressing economic and racial disparities in our community. We hope the San Diego County COVID-19 Small Business & Nonprofit Loan Program (SBNLP)—of which we are a deployment partner—will enable many in San Diego to safely reopen and continue serving our communities.

Applications are now open and we will be hosting an online information session on Friday, June 12.

If you know of any nonprofit organizations impacted by the coronavirus pandemic looking for low-to-no-interest-rate loans, please have them learn more about the SBNLP.

We are particularly interested in hearing from organizations that:

  • Offer front-line care to alleviate physical & mental health and economic effects of COVID-19
  • Serve communities disproportionately affected by the coronavirus pandemic, including Black, indigenous, and communities of color
  • Center the voices of those they seek to serve, as reflected in their staff, leadership and board makeup
  • Could unlock other capital with this loan

Basic eligibility for the nonprofit loan program:

  • 501c3
  • Serving San Diego County residents for the last 18 months
  • Total prior year revenue between $500,000 and $15M
  • Have a revenue stream besides donations

About the nonprofit loan pool:

  • Loan amounts: $50,000 to $300,000
  • Length: 6 to 30 months
  • Annual interest rate: 0–3%
  • Unlike the PPP, these loans are not forgivable and must be fully repaid
  • Applications are due by Wednesday, July 7. We encourage nonprofit leaders to look over detailed information at sandiegosbnlp.org/nonprofits to see if this is a good fit for them, and to sign up for the information session.Other loan products offered through Mission Driven Finance may also be a better fit for your small business or nonprofit organization. For other grant programs and support, please see the resources page.If you have any questions, please reach out to us at borrow@missiondrivenfinance.com.

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