Economic Justice Fund Launches COVID-19 Crisis Loans for Sacramento Micro-businesses
Local microlender steps up its commitment to serving underserved entrepreneurs during pandemic
Sacramento, Calif. (August 4, 2020) – The Economic Justice Fund announced today that it is introducing a new loan product—the Sacramento Micro-Business Resiliency Loan—to help local entrepreneurs navigate the economic challenges created by the COVID-19 pandemic.
The Sacramento Micro-Business Resiliency Loan provides up to $10,000 in financing that entrepreneurs can use for a variety of business purposes. The loan offers low interest rates and has no application fees, no origination fees, no servicing fees, and no prepayment fees. It also offers flexible terms and flexible underwriting standards in order to meet the needs of a wide range of borrowers.
The Economic Justice Fund was established to provide microloans and business training to empower underserved, low-income entrepreneurs, and the launch of the new Sacramento Micro-Business Resiliency Loan product represents another important step forward in the realization of the nonprofit’s mission.
“We recognize that even in the best of times, many lower-income entrepreneurs struggle to access capital, and we are especially committed now to helping Sacramento’s underserved entrepreneurs stay strong during the COVID-19 crisis and the economic challenges it is creating,” said Scott Berman, president of the Economic Justice Fund’s governing board. “Our new Sacramento Micro-Business Resiliency Loan provides versatile, flexible, and affordable financing to borrowers who are overlooked by traditional lenders.”
The Sacramento Micro-Business Resiliency Loan is available now. Prospective borrowers can find more information and apply online at the Economic Justice Fund’s website at www.economicjusticefund.org. A fact sheet about the Sacramento Micro-Business Resiliency Loan can be found here.