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OBDC Finance's mission is to grow strong communities by providing financing and assistance to small businesses that provide employment, services, and community benefit. We are committed to serving and supporting the small business community by:
- Increasing the opportunities of economically disadvantaged residents.
- Providing economic benefits through entrepreneurial development and business ownership.
- Promoting the creation of job opportunities through business development.
- Providing business advising and facilitating community networking to develop broader public-private sector partnerships.
Established in 1979, OBDC is a Community Development Financial Institution (CDFI) and a Small Business Administration (SBA) microlending intermediary providing loans to small businesses in the San Francisco Bay Area. As a 501(c)(3) nonprofit organization, OBDC's mission is to grow strong communities by providing financing and assistance to small businesses that provide employment, services, and community benefit in Alameda, Solano, San Francisco, and Contra Costa Counties. Through its diverse portfolio of loan products, OBDC provides microloans and small business loans to entrepreneurs who are not able to access traditional bank capital because they are new in business, have imperfect credit histories, have limited collateral, or need technical assistance before, during, and after the loan application process. In FY 2011, OBDC provided $4.15 million in loans to 85 small businesses in our service area, the majority of which were located in low-to-moderate income census tracts. 53% of borrowers were non-white, 54% were female, and 50% were low-to-moderate income. Using the funding provided by OBDC, these businesses planned to create and retain 536 jobs.
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