Grow Long Beach Fund Loan Program
The City of Long Beach and the Grow America Fund (GAF) have established and capitalized the Grow Long Beach Fund as an unique economic development tool designed to assist eligible small businesses within the City of Long Beach to obtain the financing required to grow their business.
Loans made under this program are underwritten by the Grow America Fund and guaranteed by the Small Business Administration (SBA) under GAF's Small Business Lending Company License. Therefore, each loan must comply with SBA guidelines and procedures. Advantages of this program include:
- Longer term - up to 25 years
- Lower interest rates (prime + 1.5% variable) than most conventional bank financing
- Loan amounts range from $100,000 to $2M
- Proceeds can be used for working capital, machinery & equipment purchases and installation, tenant improvements, real estate acquisition, business debt refinancing, green energy and energy efficiency financing, etc.
For more information on the Grow Long Beach Fund please contact:
Seyed Jalali, Economic Development Officer, at (562) 570-6172 or at Seyed.Jalali@longbeach.gov.
A detailed Grow Long Beach Fund brochure is also available for download.