There is a new resource for Oakland small business owners: $2.5 million in no fee, zero-interest loans are now available through PCV’s Oakland Restorative Loan Fund. Loans are available from $10,000 – $100,000.
During this initial launch of the program, we are intending the first $2.5M to reach BIPOC + AAPI-owned businesses based in the Fruitvale area, West & East Oakland, North Oakland in the Temescal Telegraph Business Improvement District, and Chinatown. This fund can help combat gentrification and displacement, and support business owners as state and federal grant programs begin to end. As with all PCV loans, there are no application fees and no minimum credit score to apply.
The Oakland Restorative Loan Fund will go live at 11am on Thursday, November 18. Once the fund is live, your clients and community can Learn more and apply here.
This program is only available while funding lasts. We would love your help I reaching small business owners in Oakland. To help you spread the word with your clients and community, we’ve put together a basic promotion kit with sample newsletter and social media copy in English, Spanish, Cantonese, and Tagalog. Please let us know how else we can help you in spreading the word!
This program is only available while funding lasts. We would love your help I reaching small business owners in Oakland. To help you spread the word with your clients and community, we’ve put together a basic promotion kit with sample newsletter and social media copy in English, Spanish, Cantonese, and Tagalog. Please let us know how else we can help you in spreading the word!
We know that with PPP over and most state and other small grants programs for small business owners ending, truly affordable capital is essential to helping our businesses stay in recovery mode, and grow again. We are partnering with the City of Oakland and Black Cultural Zone to reach East Oakland, Oakland Black Business Fund to reach across the city, ESO Ventures to reach their Black and Brown entrepreneurs across the city, Feed the Hunger Fund to reach their micro businesses, and the Oakland Chinatown Chamber of Commerce to reach Chinatown AAPI-owned businesses.
PCV’s loan program is there for small businesses that have been most excluded from the traditional financial system and many SBA programs, such as Black, Indigenous, and POC-owned businesses, women and LGBTQI+ business owners, returning residents, immigrants and refugees, and other low-income communities. Our loans include small grants for every improvement a small business owner makes in offering dignified good jobs for their employees – such as a living wage, paid time off, health insurance, and more. Our borrowers also have access to our network of 2,000+ pro bono business advisors for free coaching on financials, how to advance worker health alongside business health, and digital marketing and marketing efforts that help get more micro and small businesses online, and reach customers directly.
This special program is thanks to community investments from UCSF and the City of Oakland, with grant support from Bank of America’s Neighborhood Builders program, Citi Foundation, Battery Powered, and GoFundMe.
From our colleagues at PCV.