SBA
Guaranteed Loans for Sacramento's Growing Small Business
Entrepreneurs
(A joint program of SHRA and SMUD)
The Grow Sacramento Fund (GSF) was
created in 1996 to be a lender with a difference. While its
mission is to provide market rate financing for expanding
businesses located in the City and County of Sacramento, the Fund
is a non-profit lender that offers more technical assistance and
flexible underwriting criteria than a traditional financial
institution.
The Fund works hard to tailor each
loan to the individual borrower...no "production shop"
here! The Fund is funded jointly by the Sacramento Housing and
Redevelopment Agency (SHRA) and the Sacramento Municipal Utility
District (SMUD).
The Grow Sacramento Fund's mission
is to provide access to long-term financing for any qualifying
business that will create or retain jobs and to assist
energy-related business.
The Grow Sacramento Fund can
provide loans of between $25,000 and $2,000,000. Loan proceeds may
be used for a variety of business purposes, including the
acquisition, construction or rehabilitation of a building,
leasehold improvements, machinery and equipment, and long-term
working capital. GSF cannot offer lines of credit, provide equity
or venture capital, or fund Research and Development.
The Grow Sacramento Fund's loans
are made under the U.S. Small Business Administration's (SBA) 7(a)
program. SBA provides a guarantee of between 75 - 85% of the
amount borrowed.
The Grow Sacramento Fund can
finance real estate for up to 25 years, machinery and equipment
for up to 10 years, and working capital for up to 7 years.
The Grow Sacramento Fund's interest
rates are competitive! Most loans are made at interest rates
between Prime and Prime + 1.5%. GSF can handle both fixed- and
variable-rate financing.
The Grow Sacramento Fund's longer
loan terms can save you thousands of dollars through lower monthly
payments. Let us help you stretch your cash flow
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