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Supervisors debate recapitalizing small‑business revolving loan fund, ask for stronger outreach metrics
Summary
The committee reviewed a $1 million general‑fund appropriation to recapitalize San Francisco's Small Business Revolving Loan Fund, noted Wells Fargo and repayments would supplement the pool, and asked for clearer evaluation, outreach to underserved corridors and language‑capacity plans before final approval.
San Francisco
The Budget & Finance Committee reviewed a proposal to recapitalize the city’s Small Business Revolving Loan Fund with $1,000,000 in general‑fund money supplemented by $432,500 in Wells Fargo funds and $77,000 in prior repayments. Office of Economic and Workforce Development (OEWD) staff and Working Solutions, the proposed program administrator, described loan terms, outreach plans and technical assistance services.
What was proposed
Working Solutions would administer the program under a public‑private arrangement. The recapitalization would yield roughly $1.28 million…
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