The City of Berkeley can assist you in obtaining financing for business expansion and other business needs

The City of Berkeley’s Revolving Loan Fund (RLF) program can provide access to capital for businesses and entrepreneurs who seek to grow and retain/ create jobs, but do not qualify for a traditional bank loan. The RLF serves all commercial areas in the City. Loans are available for business expansion, purchase of fixed assets, tenant improvements and real estate.

Loan Amounts:
Typically vary between $35,000 and $50,000 though larger loan amounts up to $150,000 are possible.

Fixed Interest Rates:
WSJ Prime Interest Rate, at time of loan approval plus 2 percent.
  For the current rates click on the following link: Bank

Loan Terms:
Up to 7 years

Loan Fees:
1% of loan amount, Document and Preparation Fee of $200 (payable with submittal)

Loan Collateral:
Required; Personal or Real Estate guarantee required of all principals with 20% or more interest in business

Equity Requirement:
10% of loan amount for existing businesses; 20% of loan amount for start-up businesses

Document Fee (Application Processing):

To be considered, borrowers must meet these requirements: 

  1. Demonstrate retention and/or creation of employment opportunities in Berkeley
  2. Have firm commitments for other financial components of projects
  3. Demonstrate credit worthiness and ability to repay the loan
  4. Willing to comply with all regulations, policies and requirements as they relate to the program

We use Submittable to accept and review our submissions.