PIVOT Small Business Microloan

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This PIVOT Microloan is not a COVID relief loan or grant. This program is only accepting Southern California businesses that are located in San Bernardino, Riverside, and East Los Angeles County.

The spirit behind PIVOT is to help small businesses adapt and evolve in todays environment. The marketplace may be changed forever, and small business owners have immediately begun to look at options for modifying their business models. Entrepreneurs need to pivot and adapt to ensure their long-term growth and survival. PIVOT provides capital to new and existing small businesses to finance the adjustments they need for their operations to grow and thrive.

Businesses must demonstrate that they have a working business model that will use the loan to “pivot” its business operations to adapt and grow. 7-8% APR based upon qualified credit applicants.

Borrower must have a minimum credit Score of 620.

  • Alternative credit allowed with compensating factors
  • Tri-merge Credit Report
  • Explanation required for all adverse credit
  • Explanation required for all credit inquiries in past 90 days
  • Explanation for all address discrepancies in the file
  • All collections must be paid except for medical
  • Deferred Student loans monthly payments will be calculated at .5% of the balance
    • Can use payment on letterhead of servicer (actual payment)

The loan may be be used to finance:

  • Working capital
  • Equipment and fixtures
  • Building improvements
  • Maximizing inventory

Excluded business types or uses:

  • Real estate company
  • Housing construction
  • Churches without revenues beyond tithe
  • Gambling facility
  • Adult businesses: Video, bookstore and club

Documents that will be submitted with the application:

  • Completed Loan Application
  • Credit Authorization & Fee
  • Business plan with pivot/updated explanation for 2020
  • Collateral Pledge Form
  • Business License
  • Copy of Owner/Borrower ID
  • Copy of Social Security Card
  • IF Corporations & LLCs:
    • Incorporation Documents
    • Operating Agreement
    • Certificate of Good Standing
    • EIN
  • Income and asset documentation
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