The City of San Francisco has just announced a new $3.5 million phase to its San Francisco Hardship and Emergency Loan Program (SF HELP).  This is a zero-interest loan of up to $50,000 with a repayment term of up to six years.

The first payment isn’t due until July 2021. There are no loan fees, personal guarantees, or collateral requirements for the borrower. You can use the loan to pay for payroll, rent, other fixed expenses, inventory and working capital.

Selection will be made through a lottery. In order be eligible for the lottery you must submit your Loan Inquiry Form before 11:59pm on November 23, 2020.   There will be a strong preference for low and moderate-income business owners. Winners of the lottery will be invited to submit a formal application beginning the week of November 30th.

 Even if you have applied before for this loan, you need to apply again to be eligible.

 Apply here 

Loan Eligibility Criteria:

·       Business annual revenues less than $2,500,000

·       Must be a private – for-profit business

·       No city/county tax liens or judgments

·       Demonstrate a 25% drop in revenues since January 1, 2020

·       Have not previously received a SF HELP Loan

·       Have not previously received a PPP loan of more than $150,000

·       Payments deferred until July 2021

·       Sized to cover 6 months of current expenses

·       5 and 6 year loan terms

·       No fees

·       No collateral or personal guarantee required

·       No lease is required

·       Sole proprietors can apply. You do not need to have employees.