San Diego Small Business Micro Revolving Loans boost companies

The downtown San Diego skyline, photographed at night.

The evening skyline in San Diego. (Photo Credit: CC BY-SA/Ben Pollard/Flickr)

Running a small business from one day to the next during a recession is enough to give anyone fits, considering the challenges in place in a large city like San Diego, where competition for funding is fierce. Thankfully, the City of San Diego has developed a Small Business Micro Revolving Loan Fund (SBMRLF) which, like San Diego payday loans or installment loans for individuals, can give a small business the leg up it needs to succeed.

The $1.5 million Small Business Micro Revolving Loan Fund

By matching a $750,000 grant from the Economic Development Administration, the City of San Diego officially created the Small Business Micro Revolving Loan Fund. According to the city’s website, this $1.5 million fund targets those areas of San Diego that need the most assistance if small businesses are to thrive. Increasing the number of small businesses and giving some the capital needed to expand increases small business earning potential, which in turn leads to job creation. This stimulates San Diego’s economic growth as a whole. The SBMRLF acts as a kind of business installment loan for building renovation, equipment upgrades and stimulation of other forms of working capital.

What small businesses need to become eligible

There are a number of criteria small businesses must meet in order to be eligible for assistance under the SBMRLF. These are as follows:

  • The small business must be located in San Diego.
  • Consumers must create local employment opportunities.
  • Small business owners must be fully invested and have a clear conception of all aspects of the project for which they require funding.
  • Consumers must comply with any and all regulations, guidelines, policies and requirements related to the SBMRLF.
  • Consumers must prove that outside financing is either not available or could not feasibly be repaid.
  • Unlike with San Diego payday loans or installment loans, small businesses that request the Small Business Micro Revolving Loan Fund must pass a credit check to illustrate the ability to repay any business-type installment loan they may receive.

What businesses can expect from SBMRLF

Loans range from $25,000 to $150,000, direct and fully amortized over a three- to seven-year period. The interest floor is currently 8 percent. For more info, call 619-236-6323 or e-mail


City of San Diego

San Diego’s small business climate

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