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Loans and Financial Assistance

Grow Tracy Fund Loan Program

The City of Tracy and the Grow America Fund (GAF) have established and capitalized the Grow Tracy Fund as an economic development tool designed to assist eligible small businesses within the City of Tracy 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:

For more information on the Grow Tracy Fund please contact an Economic Development representative at (209) 831-6490. A detailed Grow Tracy Fund brochure is also available for download in the Resources section of this page.

Statewide Community Infrastructure Program (SCIP)

SCIP is a financing program that enables developers to pay most impact fees and finance public improvements through an acquisition agreement that qualifies under the 1913/1915 Act (excluding school fees) via tax-exempt bond issuance proceeds. As the City of Tracy requires developers to pay impact fees prior to obtaining a permit, SCIP can be used to directly prepay these fees or alternatively, to reimburse the developer after fee payment. The program can be used to enable developers to pay for, or be reimbursed for, all eligible impact fees or for a single impact fee.

For more information on the Statewide Community Infrastructure Program please visit the SCIP Webpage or call California Communities at (925) 933-9229.

Small Business Administration (SBA) 504 Loan

The SBA 504 Program provides small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. This program offers key advantages to businesses that plan to invest in equipment and/or real estate for their own use:

For more information on the SBA 504 loan please visit www.sjcdc.com or call the Tracy/San Joaquin County CDC at (209) 951-0801

San Joaquin County Revolving Loan Fund

The Revolving Loan Fund (RLF) bring financial assistance to job creating and retaining businesses already located in San Joaquin County and those who are looking to expand into the County.

For more information on the Revolving Loan Fund please visit www.sjcworknet.org/bus_financing.html or call San Joaquin County WorkNet at (209) 468-3615.

Opportunity Fund

The Opportunity Fund helps small businesses grow and maintain their business. They provide an alternative source of capital for small business owners turned down by banks and who do not want to borrow on credit cards. The Opportunity Fund clients typically generate enough business income to support all expenses, have good or mixed credit, and cannot qualify for a conventional bank loan.

For more information on the Opportunity Fund please visit www.opportunityfund.org/small-business-loans/loans-and-services or call (408) 297-0204.

Industrial Development Bonds

Industrial Development Bonds (IDBs) are tax-exempt industrial revenue bonds which are issued to offer low interest financing to qualified businesses. IDBs traditionally offer lower interest rates, long-term maturity (15 – 30 years) and are assumable. Proceeds from IDBs may be used to finance land acquisition, building construction, machinery and equipment, and other incidental costs. In addition, five percent of net proceeds may be set aside for working capital. IDB bond amounts usually start around $2M up to a maximum of $10M.

For more information on IDBs please contact an Economic Development representative at (209) 831-6490 or visit www.ibank.ca.gov/industrial_dev_bonds.htm.

San Joaquin Angels

San Joaquin Angels is an angel investment group located in San Joaquin County. San Joaquin Angels provides attractive private company investment opportunities to its members, while enhancing economic prosperity through the financing and growth of local businesses. Angel investors invest time and money in early stage entrepreneurs and their businesses. Angels typically invest between $25,000 and $100,000 per transaction individually, and from $50,000 to $500,000 as a group. They invest in one to four transactions per year. On average, angels are patient, with an average term for holding an investment of five years.

For additional information on the San Joaquin Angels investment group please visit www.sanjoaquinangels.com.

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