COVID-19 Response:

Santa Cruz Resilience Microloan Program

We are no longer accepting applications for the program.

Ya no aceptamos aplicaciones para el programa.

To ensure we are able to review and approve applications in a timely manner we will accept 120 applications during the initial application period. If funding is still available following the initial review of the applications received we will reopen the application to accept new applicants.

Those unable to apply during the initial application period will be able to sign up for a notification list on the microloan program website to be alerted if a second application period is opened.

If you have questions about the loan program or need assistance with the application portal please contact the City's Business Liaison Rebecca Unitt by email.

Si tiene preguntas sobre el programa de préstamos o necesita ayuda con el portal de solicitud, email Rebecca Unitt, Business Liaison.

The Santa Cruz Resilience Microloan Program is available only to businesses physically located in the City of Santa Cruz. Click the link to verify your address -if your address shows up outside of the red boundary then you are not located within the City of Santa Cruz limits.

The City of Santa Cruz established the Santa Cruz Resilience Microloan program to provide emergency financing during the COVID-19 pandemic for small for-profit businesses in the city that are not well served by other state and federal loan programs or are in need of bridge funding to meet immediate working capital needs.

Loans ranging from $5,000-$10,000 will be allocated to eligible, qualified small businesses based on availability of funds, program guidelines and the submission of the online application with required documentation. Loan funds can be used for operating expenses such as rent, payroll, utilities, inventory and supplies. Interest rates vary from 0% for bridge loans up to 3% for terms up to 3 years. No application fee or collateral are needed to apply.

Applications will be reviewed as they are received and loans will be processed as long as funds are available. This program is funded by the City of Santa Cruz and operated in partnership with the Santa Cruz Community Credit Union.

Business must meet the following eligibility requirements to qualify:

  • Restaurant, retail, entertainment and service-oriented businesses with a storefront located in the City of Santa Cruz
  • For-profit, independently-owned business in good standing with the City of Santa Cruz as of February 15, 2020 (current on City of Santa Cruz obligations, bills, liens, etc.)
  • Active City Business License
  • Nine months of business operations in the City of Santa Cruz and minimum of two years remaining on lease
  • No more than 25 Full-Time Equivalent (FTE) employees (may include combination of PT/FT) as of February 15, 2020.
  • Demonstrated financial hardship related to COVID-19

Loan Terms:

  • Minimum amount $5,000 - Max amount - $10,000
    • No interest for term up to 3 months
    • 1% interest for term up to 18 months
    • 3% interest for term up to 3 years
  • No Application Fee
  • Payments deferred for six months
  • Monthly loan repayments after the initial deferral
  • Credit Union Loan origination fee of 1% will be deducted from loan proceeds at funding

Loan Program & Application Information

We are no longer accepting new applications for the program.

Program Guidelines

Updated 4/20/20: Details about the loan requirements, terms, application and review process.

Program FAQs

Updated 4/20/20: Please review this list of questions to clarify the requirements and process to apply for the loan.

Resumen del programa

Preguntas frecuentes

Sign Up To Be Notified If Additional Funding Becomes Available:

* indicates required
I would like to sign up to: