Lending to California Small Businesses
Main Street Launch provides loans to businesses throughout the state of California through the SBA’s Community Advantage program.
Our Services
Community Advantage loans:
- Amount: up to $350,000
- Interest rate: WSJ Prime + 4-5% (variable, adjusted quarterly)
- Terms: up to 10 years
- No application fee
- No prepayment penalties
- Closing fees: 2% loan fee, SBA guaranty fee, and due diligence fees
- The SBA guaranty fee can be covered by loan proceeds
- Equity injection: 10% for new and existing businesses
Use the loan to:
- Buy furniture, fixtures, and equipment
- Purchase inventory and supplies
- Hire employees and cover payroll costs
- Pay rent, utilities, and other operating expenses
- Refinance high-interest business debt
Eligibility:
- New or existing for-profit businesses located in California
- At least 51% owned by a US citizen or permanent resident
- Must be able to demonstrate current and future debt service based on historical and/or projected revenue
Education & Relationships
We connect our clients to a network of people and resources, including financial and business support services.
For more information about our lending services, please contact our office at 510.830.3275 or complete our loan inquiry form and a member of our team will contact you.
Resources For Your New or Existing Business
SCORE
SCORE mentors know what it’s like to be a small business owner. Their community of experienced entrepreneurs, corporate managers, and executives is eager to help you start and grow your business. Find out how you can get matched with a mentor for your business.
SBDCs
Small Business Development Centers (SBDCs) provide counseling and training to small businesses including working with the SBA to develop and provide informational tools to support business start-ups and existing business expansion. Learn more about the services they provide and where to find assistance in your area.
Employment Development Department
The Employment Development Department provides employer resources such as information on payroll taxes, hiring and training employees, and state disability insurance. Learn more about the services they provide here.