How to Apply | Before you Apply | Application Materials | Online Application

STEP 1: Prerequisites

Applicants must complete the steps listed on the “Before you Apply” page to apply for a loan from the City of Oakland. Depending on which funding tier is being sought, additional materials may be required to complete the loan application.

STEP 2: Online Application

Applicants must submit the loan application online; the application requires all prerequisite materials, as well as materials specific to the applicant’s chosen funding tier.  Read more about the materials you’ll need and find a downloadable checklist here. Paper applications will not be accepted.

STEP 3: Application Review

Loan applications will be reviewed by an Elevate Impact Loan Manager to ensure that the applicant has met the Tier requirements and submitted the required documents for that Tier.

  • If the Loan Application is complete, the Applicant will receive an email confirming that the application is complete and has been sent to the Loan Committee for review.
  • If the Loan Application is not complete, the Applicant will receive an email explaining which documents are missing and/or which Tier requirements have not been met. The Applicant will be able to complete and resubmit their application.

STEP 4: Loan Committee Review

Completed loan applications will be submitted to the Elevate Impact Loan Committee for loan review and scoring according to the Equity Loan Assessment attached. A Loan Application must receive a minimum score of 60 out of 100 points to be approved for a loan.

  • If the Loan Application scores 60 points or more, the Applicant will receive an email saying that the application has been approved and will be sent to an Elevate Impact Loan Manager for loan closing.
  • If the Loan Application scores 59 points or less, the Applicant will receive an email explaining that they did not meet the minimum score of 60 points. A Loan Committee member will call and/or meet with the Applicant to explain what they can do to improve their score. The Applicant can resubmit their Loan Application to improve their score.

STEP 5: Loan Closing

When an applicant’s loan is approved, the Elevate Impact Loan Manager will:

  • Send an email to the Applicant and to the City of Oakland stating that the loan has been approved.
  • Meet with the Applicant to review, complete and sign the closing documents.
  • Send completed loan documents to City of Oakland for City’s signature and payment processing.

STEP 6: Loan Funding

Once funds are available, the City of Oakland will contact the applicant to arrange pick up of the loan payment and fully executed Loan Agreement at the Special Activity Permits Office, and sign for payment receipt.