This is we check credit. We need a business plan. Then we look at the threeyear tax return and that statement. We do a lot of home care and momandpop shops. We also do start ups. We asked for approval through documents. We work a lot with people who do not know how to file taxes properly. We are mainly focused in San Francisco. We are small. We focus mainly on the tenderloin, chinatown, bayview, visitation. We do a lot of expansion. People start small through the credit union and then want to go to the bank. We know we are limited. We cannot afford to give out a big loan. Starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. The bank and credit union are similar. We do allow tax returns, projections. Credit unions do not charge an additional loan or processing fee. Processing time, on a small loan, consumer loans probably a few days. Because we require a business plan, sometimes it
Then we look at the threeyear tax return and that statement. We do a lot of home care and momandpop shops. We also do start ups. We asked for approval through documents. We work a lot with people who do not know how to file taxes properly. We are mainly focused in San Francisco. We are small. We focus mainly on the tenderloin, chinatown, bayview, visitation. We do a lot of expansion. People start small through the credit union and then want to go to the bank. We know we are limited. We cannot afford to give out a big loan. Starting from the credit union, we educate them about filing taxes properly and then moving on to the bank, a small one, expansion, and we work with the bank. The bank and credit union are similar. We do allow tax returns, projections. Credit unions do not charge an additional loan or processing fee. Processing time, on a small loan, consumer loans probably a few days. Because we require a business plan, sometimes it takes longer. Business plans take a while. Especia
For. An sba lender will be able to make the loan with a guarantee that sba will be able to provide. We probably will about 225 sba loans this year. At any point in time, we have about 1500 loans in San Francisco that are sba loans. A lot of them are restaurants because that is one of the areas that is very typical because it is a riskier business. But a lot of people in San Francisco see that as an opportunity for them as well. We also partner with the Golden Gate Restaurant Association to help people understand how to do financing for restaurants. A lot of what we do is helping Small Businesses get access to credit. The sba loan Program Covers a range of small loans down to 25,000 and large loans up to 5 million, so it is a very wide range. Can be used for a variety of uses debt refinancing, building acquisition, working capital, so it can be used for a wide range of things from a Small Business point of view. As you heard, we do guarantees for about 90 or 100 banks in the country or
That will immediately give them a sense that you are not ready. You go to a bank and say, how much can i borrow . They will tell you, i do not know, but probably not from us. You need to know exactly what youre looking for, how you are going to use the money, and how you will be paid the bank. Part of the process is make sure you are prepared. The first thing you need to do is take a advantage of the resources that can help you develop your Business Plan and really be prepared to go to a lender. Being able to answer the questions you know that they will be asking is part of what we do as well. Im sure we will have lots of time for questions, but i will send it back to you. Director of the office of Small Business with the city and county of San Francisco. Again, i also want to thank congresswoman pelosi for hosting this event, and with her staff, and her leadership around all the work she has done supporting Small Businesses. Because she comes from San Francisco, and, by our definition
Congresswoman pelosi for hosting this event, and with her staff, and her leadership around all the work she has done supporting Small Businesses. Because she comes from San Francisco, and, by our definition, is Small Business is a business with under 100 employees. That is almost 85 of all businesses in the city. Because she is from here, she really understands what Small Businesses are about, and she articulates your needs in washington, d. C. In may 2008, San Francisco opened the office of Small Business, under the leadership of gavin newsom, under the urging of our Small Business leaders. The mayor heard there was a need for the community to have a small office to help the needs of our Small Businesses in San Francisco, help them understand and navigate the complex structure in getting a business opened within the city and county of San Francisco. Initially, primarily, we were going to be about helping you understand licensing and permitting requirements, but, really, shortly after