Business Loans

Through its various business technical assistance programs, PACE BDC offers assistance in preparing loan packages and actual placement of loans at various financial institutions. These are often facilitated by Small Business Administration guarantees and PACE BDC's partnership with the Asian Pacific Revolving Loan Fund of Los Angeles (APRLFLA), for loans of $50,000 and up.

To see if your business qualifies for an SBA loan or other loans offered by banks and alternative lending institutions, call us at (213) 353-9400 for an appointment with a business counselor or click here for complete contact information. There is no limitation on the size of the loan.

“There is a lot of misinformation and myths about loans and financing…PACE helps tell the REAL story, gives you accurate information about your financing options, and works with you as an individual to figure out what kind of financing YOU can get.” –Chrysta Wilson, Kiss My Bundt

SOHO Loan Program

PACE BDC can help qualifying business owners secure a Small Office/Home Office (SOHO) loan, backed by the Small Business Administration through Innovative Bank. Qualifying individuals may receive loans of $5,000 - $25,000 for their start-up businesses, with a 7-year term, no pre-payment penalty and minimal paperwork.

Eligibility:

A business checking account
A completed application
A copy of your driver's license
A copy of your green card or work visa (if applicable)

To learn more about the loan program, visit InnovativeBank's SOHO Loan Program website. Applications must be made through a Technical Assistance Provider. Contact one of our business counselors if you are interested in this loan.

SBA Financing

PACE specializes in SBA "Express" loans (up to $150,000), and business lines of credit. Some credit lines available with no collateral or financial statements required.

For more information, please contact one of our business consultants for an appointment to see if your business qualifies for an SBA loan.

Individual Development Accounts (IDA)

Funded by the United Way of Greater Los Angeles, the IDA program matching funds program is for low income entrepreneurs who are starting a business. Eligible clients who are able to save $1000 over a 12 month period ($85.00 a month) are then eligible for a 2:1 match or $2,000 provided by United Way . During the initial 12-month savings period, the prospective entrepreneur must also attend business training classes covering how to start a micro-enterprise, as well as banking, insurance, and borrowing and the important of their personal credit history.

At the end of twelve month period, the participant can withdraw his/her saving of $1,000 together with the matched $2,000. The total of $3,000 must then be used as seed money for business start-up. There is no requirement to pay back the matched money, and the participant will benefit greatly from establishing the habit of saving.

For more information, please contact our business consultants .

PACE MicroLoan

PACE offers MicroLoans to qualified business owners. For more information, contact one of our business consultants.

Accion USA

Accion USA offers loans to small businesses, ranging from $500 to $25,000 with an annual interest rate as low as 10% and loan terms up to 60 months.