Accion serving Southern California Small Business Loan Products

Thank you for your interest in Accion. This office covers four counties in Southern California, Imperial, San Diego, San Bernardino and Riverside. Accion is currently administering two COVID-19 relief products; one through the Wells Fargo Open for Business Fund focused to support racially and ethnically diverse entrepreneurs and the other through the California Rebuilding Fund.

If you are interested in a start-up or expansion loan (not COVID-19 relief related), please fill out the form below to be connected with a business development officer to start the application process.

    COVID-19 RELIEF LOAN Program

    Both COVID-19 products require:

    • The business to be located in San Diego, Imperial, Riverside or  San Bernardino counties
    • A current source of income (i.e. business, job, unemployment, spousal income)

    California Rebuilding Fund

    • Term loans from $2,000 to $50,000 for COVID-19 impact relief
    • Interest Rate: 4.25%
    • First 12 months interest-only; up to 60-month total term
    • Fees:
      • $0 on loans up to $5,500
      • $250 on loans $5,500 and above
    • No pre-payment penalties

    Eligibility Requirements

    • Be in business on or before June 30, 2019
    • Must fill out pre-application on caloanfund.org
    • Maximum $250,000 in gross business revenues on most recent year of filed tax returns per stated on the caloanfund.org pre-application
    • Demonstrate at least a 25% decline in revenues since January 2020 due to COVID-19
    • Returned to or has sustained at least 30% of pre-COVID-19 crisis revenues relative to a similar period the prior year
    • Acceptable personal credit report to include (but not exclusive):
      • No repossession or foreclosure within last 3 years
      • No open liens or judgments (payment plans of at least 6 mos. OK)
    • No delinquent child support
    • Minimum Credit Score of 500 (No Credit Score is OK)

    Click the button below for more information and to start the pre-application process on www.caloanfund.org.

    GET THE PROCESS STARTED

    Wells Fargo Open for Business Fund to support racially and ethnically diverse entrepreneurs:

    • Term loans from $5,500 to $35,000 for COVID-19 impact relief
    • To use for working capital to cover rent, utilities, payroll, insurance or any other business needs due to adverse COVID-19 business impact
    • Interest Rate: 2.99%
    • Term: 36-60 mos. including first 6 mos. with no payments
    • A grant to cover upfront fees
    • No out-of-pocket costs and no prepayment penalties
    • Complimentary business technical assistance (and/or financial) coaching session

    Eligibility Requirements

    • Business must have been negatively impacted by COVID-19
    • Business owned by a racially or ethnically diverse entrepreneur
    • Be in business prior to Aug. 31, 2019
    • Maximum $250,000 in gross business revenues on most recent year of filed tax returns
    • Acceptable personal credit report to include (but not exclusive):
      • Minimum Credit Score of 500 (No Credit Score is OK)
      • No bankruptcy or foreclosure within last 3 years
      • No open liens or judgments (payment plans of at least 6 mos. OK)
      • No delinquent child support

    Click the button below to apply for the racially or ethnically diverse COVID-19 product.

    GET PROCESS STARTED
    Loan PROGRAM FOR START-UP/ EXPANDING BUSINESSES

    Product Details

    • From $300 to $100,000 term loans for start up or growing businesses
    • 6.99% - 18.99% fixed, simple interest (1% discount for veterans and active duty military)
    • No prepayment penalties and no application fees
    • Terms from 12 – 72 months
    • Cost are charged only at closing:
      • <$5,000: $95 max on average
      • >$5,000: up to 6% of loan amount
        • *$100 off for veterans, active duty

     Startup and Expansion Loan Eligibility Requirements

    • Live/work in San Diego, Imperial, Riverside or San Bernardino Counties
    • Use the proceeds of the loan for your business.
    • Collateral and a co-borrower may be required.
    • Be at least 18 years of age and demonstrate good character
    • Business must be a legal entity.

    To get the application started, you'll need to speak with one of our local representatives before applying for this product. Fill out the form below to be connected with a business development officer.

    Please add your contact info to connect with a Business Development Officer.