Community Development Financial Institution Administration of The Revolving Loan Fund Services

The City of San Pablo, California, is seeking a qualified Community Development Financial Institution to administer its Revolving Loan Fund. The agency needs a partner to manage loan origination, underwriting, servicing, and financial management to ensure the fund remains financially sustainable over its capitalization period. This initiative aims to support local economic development by providing accessible capital and technical assistance to applicants. The selected administrator must develop the loan application process, conduct financial analyses, evaluate credit, and assess risk. The scope of work requires the administrator to recommend loan terms, collateral requirements, and interest rate structures, which typically range from two to seven percent or prime plus up to two points. Additionally, the administrator will provide technical assistance to applicants and ensure all activities comply with city policies and applicable regulations. For loan servicing, the administrator must prepare loan agreements, manage disbursements, process payments, and monitor borrower performance. The agency requires the administrator to maintain complete loan files, manage escrow accounts, and handle portfolio management, including delinquency follow-up and workout plans. Financial management duties include tracking repayments, maintaining accounting records consistent with GAAP and CDFI standards, and monitoring fund replenishment. Only United States organizations are eligible to submit proposals for this opportunity. The agency requires the administrator to perform all work offsite at the administrator's own office location. The agency has not disclosed a specific budget and is currently looking for proposals to determine the cost of these services.