San Jose launches micro-loan program to help small businesses

Bay Area

SAN JOSE, Calif. (KRON) – The city of San Jose is launching a new micro-loan program to assist small businesses during the pandemic.

As of Friday, applications will now be accepted.

The California Rebuilding Fund will help successful businesses that were impacted financially by the pandemic.

A webinar will be held on Dec. 1 at 3 p.m. for more information on how to apply.

Loans are available up to $100,000. A pre-application is available online.

“The micro-loans issued by the California Rebuilding Fund will provide a desperately needed lifeline to thousands of small businesses hanging on by a thread,” said Mayor Sam Liccardo. “These diverse restaurants, local retailers, salons, and shops stir the economic and cultural heart of our San José community, and we need to do whatever we can to help them survive.”

If your small business may qualify, officials advise you to reach out to BusinessOwnerSpace for application assistance.


  • Businesses must have 50 or fewer full-time employees (FTE).
  • Annual revenues must not have exceeded $2.5 million.
  • Revenues must have declined since January 2020.
  • Business must be operational and working to stay in business.

Key terms:

  • Loans up to $100,000 are available with a three- or five-year repayment period.
  • Loans have a 4.25 percent interest rate, with an interest-only period for the first 12 months and fixed monthly repayments.
  • No upfront fees charged to the small business.
  • Loan to be used as flexible working capital.

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