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Low interest loan capital to support full time job creation through restaurants creating new revenue streams in response to ongoing economic challenges in Oakland's 7 CDBG-designated districts.

Award Number: 90EE1297
ORGANIZATION: OFFICE OF COMMUNITY SERVICES
OPDIV: ACF
AWARD CLASS: DISCRETIONARY
AWARD ACTIVITY TYPE: SOCIAL SERVICES
PERIOD OF PERFORMANCE START DATE: 09/30/2022
PERIOD OF PERFORMANCE END DATE: 09/29/2025

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Low interest loan capital to support full time job creation through restaurants creating new revenue streams in response to ongoing economic challenges in Oakland's 7 CDBG-designated districts. - <p><span>Main Street Launch will use $800,000 in CED funds to finance the Business Resilience Loan Fund, targeted to expand two local restaurants in Oakland, California. CED funds will be used to provide low interest loans and technical assistance to two restaurants to assist them in adapting their business models and diversifying their revenue streams in light of recent economic challenges. The additional capital will allow restaurant businesses to expand their operations to include activities such as wholesale, catering, curbside takeout and outdoor dining. Two restaurants, Calabash and Reem’s California, were selected for initial loans and have developed expansion plans that will create new full-time full-year positions, and the remaining funds will be used for loans to 2-3 additional restaurants in the future. Main Street Launch’s partner Unity Council will provide wraparound services for new employees including affordable housing, food distribution, financial coaching, early childhood education and tax preparation assistance. This project will create 39 new jobs, 29 of which will be filled by individuals with low incomes.</span></p>


Issue Date FY	Funding FY	Legal Entity Name	Legal Entity Address	Legal Entity City	Legal Entity State	Legal Entity Zip Code	Legal Entity COUNTY	Legal Entity COUNTRY	Assistance Listing	Award Code	Budget Year	Action Date	Action Type	Action Amount

Issue Date FY: 2025 ( Subtotal = $0 )
2025	2022	MAIN STREET LAUNCH	2101 WEBSTER ST STE 1200	OAKLAND	CA	94612	ALAMEDA	USA	Community Services Block Grant Discretionary Awards	01	1	10/18/2024	ADMINISTRATIVE SUPPLEMENT ( + OR - ) (DISCRETIONARY OR BLOCK AWARDS)	$0
														Subtotal = $0

Issue Date FY: 2022 ( Subtotal = $800,000 )
2022	2022	MAIN STREET LAUNCH	2101 WEBSTER ST	OAKLAND	CA	94612	ALAMEDA	USA	Community Services Block Grant Discretionary Awards	00	1	9/27/2022	NEW	$800,000
														Subtotal = $800,000

Grand Total All Awards = $800,000

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Low interest loan capital to support full time job creation through restaurants creating new revenue streams in response to ongoing economic challenges in Oakland's 7 CDBG-designated districts.

Award Number: 90EE1297

ORGANIZATION: OFFICE OF COMMUNITY SERVICES

OPDIV: ACF

AWARD CLASS: DISCRETIONARY

AWARD ACTIVITY TYPE: SOCIAL SERVICES

PERIOD OF PERFORMANCE START DATE: 09/30/2022

PERIOD OF PERFORMANCE END DATE: 09/29/2025

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