In partnership with First Community Capital, Riverside County Black
Chamber of Commerce introduce BIPOC Community Loan Fund
Chamber of Commerce introduce BIPOC Community Loan Fund
Loan Details & Fees
- $2,500 - $10,000
- 12 to 36 months
- 7.25% - 10%
- No Prepayment Penalty
Loan Purpose
Loan Purpose
- Working Capital
- Equipment / Inventory Purchase
- Marketing
- Business Expansion
- Startup cost
The last two years have been incredibly challenging, as the economic uncertainty due to the COVID-19 pandemic coupled with hyperinflation has severely impacted microbusinesses business. For minority-owned microbusinesses in particular, the need for access to affordable capital and technical assistance has never been so critical. Many have been denied access to government relief funds from the recent SBA – EIDL program, despite having met the required qualifications. The FCCI -RCBCC BIPOC Community Loan Fund was created to provide access to affordable capital and technical assistance for BIPOC-owned microbusinesses impacted by the ongoing Covid-19 pandemic.
This program includes FREE technical assistance and business consulting in partnership with the Riverside County Black Chamber of Commerce.
LOAN ELIGIBILITY:
We value your experience, commitment, and repayment ability over a FICO Score. So, don’t let your FICO Score get in the way of you getting the right capital for your business. Come See Us!
Basic Loan Requirements:
Business must be in the Inland Empire including Riverside and San Bernardino Counties.
Owner(s) must be at least 18 years old and have at least 1 year of recent, paid, same-industry experience.
Have secondary source of income (if start-up).
NO minimum revenue required (can be pre-revenue).
NO minimum credit score or collateral.
We value your experience, commitment, and repayment ability over a FICO Score.
FINANCIAL LITERACY
How to manage your finances and achieve financial self-sufficiency
ACCESS TO CAPITAL
Discover alternative sources of financing
SAVINGS AND BUDGET
Learn the nuts and bolts of wealth management
INCOME TAX RULES AND REG
Equip yourself with the new tax credit benefits and impact
