Many businesses seek financing before drafting their plan or financial statements. In most cases, the financing representative will seek additional information. At the SBDC, we encourage you to prepare the plan prior to presenting your request for funding. Through confidential SBDC consulting, you will prepare a plan that supports the funding you are requesting and will support how you will repay your loan. Additionally, the SBDC will help you determine the sources of funding that may meet your needs. Call the SBDC at 209-954-5089 to make an appointment to discuss your funding needs. All of our services are confidential.
Sufficient capital is essential for start-up and expansion of a business. In fact, inadequate financing is one of the major causes of business failure. When starting a business, it is good to have at least a 12-month financial cushion so you can handle all of your expenses without using revenue from the business. This will allow you to minimize your risks while establishing your business.
As a partner in the following programs, the SBDC is your first point of contact for information and assistance.
U.S. Small Business Administration (SBA)
The SBA offers a variety of loan programs to eligible small businesses. Most of the loans are made by private lenders and then guaranteed by the SBA. While it is not necessarily easier to be approved, the guarantee will allow you to obtain a loan with a longer maturity and reasonable terms and interest rates, thereby reducing your payments and initial loan burden.
San Joaquin County Revolving Loan Fund (RLF)
The RLF offers "gap" financing assistance to business owners or entrepreneurs in San Joaquin County for working capital, equipment, leasehold improvements, and purchase of land and buildings to be used by the business. Loans range from $25,000-$1 million.
Business Incubator Loan Program (BILP)
Virtual Incubator associates can apply for funding of up to $25,000 through a second RLF fund, BILP. Contact the SBDC for further information, 209-954-5089.
City of Stockton Small Business Micro Loan Program
The Small Business Micro Loan Program assists Stockton businesses with financing needs through loans up to $30,000 which can be used for operating capital (including permit and license fees), furniture, fixtures and equipment, rehabilitation, and manufacturing equipment. Contact the SBDC for further information, 209-954-5089.
Downtown Stockton Enterprise Loan Fund Loan Fund (DSELF)
DSELF assists current and prospective downtown Stockton, California business owners with the cost of maintaining their current business or starting a new business through loans from $5,000 - $50,000 which may be used for tenant improvements, operating capital, inventory, product development, marketing and signage, startup costs. Contact the SBDC for further information, 209-954-5089.
Tracy/San Joaquin Certified Development Corporation (CDC)
The CDC in conjunction with a bank provides eligible businesses financing for fixed assets (generally real estate, building, and machinery). The SBA 504 loans may require as little as 10% down payment from the borrower.
The bank with which you have a good relationship is a possible funding source.
Business loans up to $25,000
Now you can get the funds you need through the San Joaquin County Business Incubator Loan Program. The San Joaquin County Revolving Loan Fund and the State of California fund this loan program. As a partner in the program, the SBDC is your first point of contact for information and assistance. Funds may be used for any reasonable business purpose including machinery, equipment, inventory, leasehold improvements, marketing, or working capital.
In order to be eligible, your business much be located in San Joaquin County and be a for-profit enterprise. You must have a commitment to improving your business, have a history of meeting financial obligations, and be able to repay the debt. Consultants at the SBDC can help you complete the loan application and get the process started.
Call 209-954-5089 for more information.