San Diego Region Revolving Loan Fund

The City of San Diego manages the San Diego Regional Revolving Loan Fund (SDRRLF) for businesses located in the City of San Diego. The SDRRLF has supported the city’s ecosystem of thriving small businesses with medium and small loans across many sectors, including innovation, tech, manufacturing, healthcare, and fitness.

For nearly thirty years, the City of San Diego has provided local entrepreneurs with affordable capital to meet expansion, retention and growth needs. During the COVID-19 pandemic, the SDRRLF supported over a hundred small and medium-sized businesses and provided much-needed funding to help them through uncertain times.

As the SDRRLF looks toward its next phase, the City aims to prioritize lending in sectors and businesses that align with the City’s Economic Development Strategy, most recently adopted in 2023. The Economic Development Strategy is a plan that lays the foundation for sustained economic success and fiscal stability for San Diego, helping position the region as a global leader. Click here to read the Economic Development Strategy and to learn more about target sectors. 

Initial Interest

As funding becomes available for lending, the City will reach out to businesses that submit an interest form and meet minimum eligibility requirements. This page and the Interest Form may be updated as needed to reflect additional information on the SDDRLF.

Eligibility Requirements

• The business has a commercial location in the City of San Diego, with loan funds to be spent at that location.
• Businesses must have an active City of San Diego Business Tax Certificate.
• The loan must be used to create or retain employment opportunities in the City of San Diego.
• Startups interested in applying for a loan must have at least a six-month operating history in a supportive business environment (e.g., incubator, accelerator, business development program, etc.) .
• See all the Eligibility Requirements here

Documents Required for Application, Review and Loan Closing

Financial records and proof of identity will be required during the application and loan closing periods. See the complete list of required documents here

Loan Details

• Amounts between $25,000 - $95,000.
• Interest Rate - 3% Annually.
• Period - up to 6.5 years, and shorter term depending on loan size.
• Loan Fees - $250 Application Fee. A loan origination fee of $100 plus 1.0% per loan is to be included in the financed amount.
• Repayment - No payments and no interest accrued for the first six (6) months.

Application Process

The City will be reviewing applications and prioritizing submitted interest forms until December 2024. During this time, interest forms will be reviewed for eligibility and prioritization for an application. Applying for the SDRRLF starts with an online interest form, which is available here. 

The following steps occur generally over 90 days:

1. Initial review for eligibility.
2. Presentation to Advisory-Board representatives.
3. Completion of financial due diligence.
4. Completion of full credit memorandum.
5. Applicant receives commitment letter.
6. City provides loan documents.
7. City receives signed loan documents from applicant and City Attorney’s Office.
8. Set up of internal Department of Finance accounts.
9. Funding of initial disbursement.