OBDC Small Business Finance

Description

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.