San Pablo Planet bids #RFQUAL/RFP

San Pablo Seeks CDFI to Administer Business Revolving Loan Fund for Small Businesses

The City of San Pablo, California, is seeking proposals from qualified Community Development Financial Institutions (CDFIs) to fully administer its Business Revolving Loan Fund (RLF): - Government Buyer: - City of San Pablo, City Clerk's Office - OEMs and Vendors: - No specific OEMs or commercial vendors are named; the opportunity is open to qualified CDFIs - Products/Services Requested: - Full administration of the Business Revolving Loan Fund (RLF) - Includes loan origination, underwriting, servicing, compliance, reporting, financial management, and program coordination - Annual fund capitalization of approximately $50,000-$75,000, sourced from cannabis sales - Minimum administration period of five years - Priority for loans to San Pablo-based small businesses, startups, nonprofits, and cooperatives, especially those serving low-income or underserved communities - Unique or Notable Requirements: - CDFI must have experience serving underserved communities and managing public loan programs - Quarterly and annual reporting required - Compliance with federal, state, and local regulations - Collaboration with city staff for outreach and marketing - Emphasis on supporting minority, women, and immigrant-owned businesses, and those creating or retaining local jobs

Description

The City of San Pablo is seeking qualified Community Development Financial Institutions (CDFIs) to administer its Business Revolving Loan Fund (RLF). The RLF will be funded annually through Community Benefit contributions from retail cannabis sales, approximately $50,000-$75,000 per year, for no less than five years. The fund aims to expand access to capital for San Pablo-based small businesses, especially those unable to qualify for traditional financing. The selected CDFI will manage loan origination, underwriting, servicing, compliance, reporting, financial management, and program coordination. Eligible borrowers include small businesses, startups, nonprofits, and cooperatives that align with the city's economic development goals.

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