- Incentive Website
- Incentive Status: Active
- Application Due Date: Ongoing
- Program Duration: Applications are accepted on a rolling basis.
The City of Berkeley’s Revolving Loan Fund (RLF) program can provide access to capital for businesses and entrepreneurs who seek to grow, retain, and create jobs, but do not qualify for a traditional bank loan. The RLF serves all commercial areas in the City. Loans are available for business expansion, purchase of fixed assets, tenant improvements and real estate.
Typically between $35,000 to $50,000 (Loans greater than $35,000 are up to the discretion of the Board)
Fixed Interest Rates:
WSJ Prime Interest Rate, at time of loan approval plus 2 percent.
For the current rates click on the following link: Bank Rate.com
Up to 7 years
1% of loan amount
Required; Personal guarantee required of all principals with 20% or more interest in business
10% of loan amount for existing businesses; 20% of loan amount for start-up businesses
- Agriculture and Forestry
- Air Quality and Climate
- Business and Commerce
- Commercial Real Estate
- Community Development and Land Use
- Consumer Protection
- Disaster Prevention and Relief
- Employment and Labor and Training
- Film and Television
- Financial Services
- Food and Nutrition
- Green Business
- Green House Gas Emission Reduction
- Health Care
- Land Conservation
- Research and Development
- Waste Management
- Applicable Regions:
Do I Qualify?
How to Apply