The Port Micro-LBE Hardship Emergency Loan Program is a zero-interest loan program that was developed in collaboration with the Port and service provider Main Street Launch. The Port recognizes the value of a diverse and local contracting community and is dedicating $1 million in the program for loans up to $25,000 each to eligible Port contractors, subcontractors, subconsultants or tenants.

 

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Program Overview

Eligible contractors must be Port Prime Contractors, subcontractors, suppliers or tenants who are certified Micro-LBEs with the City and County of San Francisco.  

 

Applicant Requirements

1. Be an existing business located in the City of San Francisco (SF Business address) 
2. Be a for-profit business in good standing 
3. Have total annual revenues under $2.5 million in 2019
4. Have a valid San Francisco Business License 
5. Be free of any city/county tax liens or judgments 
6. Have a business bank account 
7. Demonstrate a 25% drop in revenues since January 1, 2020
8. Be a Port of San Francisco contractor, subcontractor or tenant

 

Key Terms

• Loan amounts up to $25,000 for eligible Micro-LBEs, as described above
• Five year (60 month) repayment term with the first regular payment due the first day of the month six months after the loan was disbursed
• Zero percent (0%) interest
• No prepayment penalty
• Loan balance forgiveness options
  • Upon repayment of fifty percent (50%) of the loan within the first two years of disbursement, outstanding balance will be forgiven
  • Upon repayment of seventy-five percent (75%) of the loan within the first three years of disbursement, outstanding balance will be forgiven
• Port tenants cannot use rent due to Port as an eligible business expense

 

Application and Process

Step 1: Inquiry Application: Interested and eligible Micro-LBEs must complete this short application.  Applications are accepted on a rolling basis.

Step 2: Main Street Launch, the service provider, will contact applicants to complete the full application.