Important Notice:

The COVID-19 Quick Response Loan is no longer available. Please visit our WEV COVID-19 ReStart Loans page for more information about a loan to help you reopen your business or visit our WEV COVID-19 Resource Page for information about other resources available for your business.

 

Quick Response Loan

In addition to our existing Small Business Loan Program, WEV wishes to provide financial support and assistance to businesses experiencing economic hardship as a result of the Coronavirus/COVID-19 pandemic of 2020.

Please note: This loan is not part of the Paycheck Protection Program (PPP) and is not affiliated with or connected to the CARES Act. This loan is not forgivable under the provisions of these programs, however you may be able to refinance this loan through one of these programs, if eligible.

Please carefully review the Eligibility criteria below.  If you feel that you will not qualify based on any of these factors but still wish to apply, please contact WEV at the email addresses provided below to schedule a time to discuss.
 

Eligibility

• No derogatory credit reporting for the past twelve months.
• Minimum breakeven financial performance for the prior fiscal year, as evidenced by either 2019 tax return or 2019 profit and loss statement.
• Most recent bank statements verifying no presence of Overdraft or Insufficient Funds activity.
• Own and control at least 51% of the business.
• Have resided within Santa Barbara County or Ventura County for at least one year.
• Be a U.S. citizen or legal permanent resident, or have an ITIN.

 

Terms

• Up to $10,000.
• 4.50% fixed interest rate.
• 36 month repayment.
• No fees.
• No payments for the first three payment cycles.

 

Application process

• Apply online here.
• Provide required documents (list provided after application is submitted).
• A WEV loan program associate will respond as soon as possible upon receipt of a completed application package.

 

Contact us

Marta Quintero, Bilingual Loan Officer, mquintero@wevonline.org
Marni Brook, Director of Lending, mbrook@wevonline.org