RFP for business capital and technical assistance

The City of Oakland is requesting proposals from a qualified Community Development Financial Institution (CDFI) to provide small business capital access services, including loan readiness technical assistance, direct loan packaging and underwriting, and administration of a City-supported revolving loan fund offering low-interest and/or zero-interest loans to Oakland small businesses, with proposals due August 31, 2026 at 2:00 p.m. Pacific time. The original deadline of August 20, 2026 was extended by Addendum 1, issued August 19, 2026; Addendum 2 also modifies evaluation criteria, technical specifications, and administrative procedures, and both addenda must be acknowledged and attached to all proposals.

The scope encompasses business intake and CDBG eligibility documentation, one-on-one business advising, financial readiness assessment, capital needs analysis, loan origination and closing, loan servicing, portfolio management, warm referrals to capital partners, culturally responsive outreach, and performance reporting with CDBG/HUD compliance. The selected CDFI must demonstrate experience in loan readiness technical assistance, small business lending, underwriting and portfolio management, serving underserved entrepreneurs, and managing federally funded programs. Annual performance goals include serving a specified number of unique businesses, conducting one-on-one loan readiness technical assistance, hosting access-to-capital workshops, underwriting loan requests, funding loan applications, and tracking business outcomes including jobs created or retained and low- and moderate-income (LMI) benefit metrics.

The contract is structured as an initial one-year agreement with an option to renew for an additional two years, with funding contingent on CDBG availability. The City has budgeted approximately $300,000 annually for this contract. Questions should be directed to contractadmin@oaklandca.gov. Prospective proposers not previously registered via iSupplier should contact iSupplier@oaklandca.gov with the RFP title to be added to the invitation list.