Back Economic Development

The Bridge Fund Emergency Loan fund was established through a generous grant from Wells Fargo. The purpose of the fund is to provide low income community members of San Diego with a low interest alternative to borrow small amounts for emergency situations. Eligible applicants may apply for a loan for emergency situations where small amounts of money are needed to pay unplanned, unexpected expenses. Documentation of income, emergency, and ability to repay will be required to substantiate requests for an emergency loan. 

Some examples of emergency situations may include, but are not limited to, the following:

  • Unexpected doctor or dentist bills
  • Travel expenses due to a death in the family
  • Isolated incidence of inability to pay rent
  • Unforeseen car maintenance
  • Unexpected repairs such as a furnace, air conditioner, utility payments, etc.


Completion of Loan Request:

  1. Applicants wishing to utilize the emergency loan fund must first complete an application form. The forms are available through the Microenterprise department or at the reception area of AAA. The application must specify the requested loan amount, need for the loan and appropriate documentation, ability to repay the loan, and must include signatures of 5 character references. 
  2. An appointment must be made with the Microenterprise Coordinator who will review the application form and verify all documents of emergency and income. Once all these documents are reviewed the Coordinator will then submit the completed application to the loan committee for approval and processing.
  3. The Loan committee will review the application, verify information, and respond within 48 hours.
  4. Applicants will be required to complete a 90 minute financial literacy training by Wells Fargo staff members in order to be eligible for loans over $750 within the first 3 months of receiving the Bridge Fund Emergency Loan funds. The course will cover basics of banking, budgeting, saving, and how to manage credit.

Loan Servicing:

  1. Loan is good for any amount between $250 – $1000. Interest is at an annual rate of 4%.   
  2. All loan funds will be issued directly to the vendor via a business check from the Alliance for African Assistance. No loan funds will be given directly to the client. 
  3. Borrowers will have a grace period of one month before they are required to start repaying their loan. The maximum period of repayment is 12 months. Recipients may elect for a shorter period of repayment.
  4. Loans are repaid in monthly, manageable installments by a due date defined in the loan contract.
  5. Monthly payments paid after the due date will be assessed a $5 late fee.
  6. A loan is considered delinquent when there has been 60 days with no form of payment.