FOR IMMEDIATE RELEASE
January 28, 2025
Main Street Launch Announces Public-Private Partnership to Revitalize Downtown San Francisco with $3.6 Million Loan Fund
San Francisco, CA – Main Street Launch, in collaboration with JPMorganChase, U.S. Bank, and the City of San Francisco Office of Economic and Workforce Development (OEWD), proudly announces the launch of the Downtown San Francisco Vibrancy Loan Fund, a new initiative designed to reinvigorate San Francisco’s downtown area by supporting small business development and filling commercial vacancies.
“San Francisco’s downtown is key to our economic recovery and growth, and the Downtown San Francisco Vibrancy Loan Fund represents a critical step forward in reimagining this area as a hub of opportunity and community,” said Mayor Daniel Lurie. “By partnering with Main Street Launch, JPMorganChase, U.S. Bank, and our Office of Economic and Workforce Development, we are leveraging all available resources to give small businesses and entrepreneurs the support they need to thrive. Together, we will build a more inclusive and vibrant downtown for all San Franciscans.”
This innovative $3.6 million loan and grant program offers low-interest loans of up to $100,000 at a 4% interest rate to qualifying small businesses. In addition, participants in the program will receive a $25,000 grant from the City of San Francisco to support their business launch, making this an unparalleled opportunity for entrepreneurs who face barriers accessing traditional banking services.
“We are excited to be partnering with the City, JPMorganChase and U.S. Bank on this important program,” said Rohan Kalbag, CEO of Main Street Launch. “The Downtown San Francisco Vibrancy Loan Fund represents the commitment of the City to revitalizing the heart of San Francisco. By offering targeted financial support, we aim to fill vacancies with more businesses that people love, breathing new life into our iconic Downtown. This fund will help small businesses and entrepreneurs thrive and foster a vibrant Downtown that reflects the spirit of San Francisco.”
The program underscores San Francisco’s commitment to an equitable economic recovery by opening doors for entrepreneurs ready to contribute to the city’s dynamic transformation.
“San Francisco demands a vibrant downtown so that we can all experience prosperity for years to come. JPMorganChase is proud to support the Downtown San Francisco Vibrancy Loan Fund so that local small businesses can benefit from affordable capital and enjoy sustained growth,” said Tony Tolentino, Vice President, JPMorganChase Global Philanthropy.
“This partnership is a direct illustration of the business, nonprofit and government coming together to invest in Downtown’s comeback,” stated Sarah Dennis Phillips, Executive Director, OEWD. “We are thrilled to be partnering with Main Street Launch, and incredibly grateful to JPMorganChase and U.S. Bank for creating more opportunities for entrepreneurs who want to open or expand their businesses Downtown. Their support helps ensure local small businesses play a strong part in, and see the benefits of, Downtown’s resurgence.”
“We’re proud to collaborate with organizations like Main Street Launch, JPMorganChase, and the City of San Francisco Office of Economic and Workforce Development to create the Downtown San Francisco Vibrancy Loan Fund and support small business development in San Francisco. By bringing together the resources of public and private organizations, we are working toward our shared vision of a thriving downtown, with more opportunities for residents, businesses and visitors to enjoy what the city has to offer,” said Leena Randhawa Paxinos, community affairs manager at U.S. Bank.
With this funding, the Downtown San Francisco Vibrancy Loan Fund aims to foster a vibrant and inclusive downtown San Francisco, enhancing its appeal to residents, visitors, and investors alike.
For more information about the Downtown San Francisco Vibrancy Loan Fund, including eligibility requirements and how to apply, please visit Main Street Launch’s website.
Media Contact:
Kelly Baker
AVP – Business Development & Impact
Main Street Launch
Phone: 510-629-0299
Email: kellyb@mainstreetlaunch.org
About Main Street Launch
Main Street Launch is a nonprofit organization committed to empowering entrepreneurs, small businesses, and communities by providing access to capital and business development services since 1979. With a focus on fostering economic growth and resilience, Main Street Launch supports diverse business owners in realizing their dreams and contributing to thriving local economies.
