| 504 Program |
| 7(a) Program |
| Communty Express Loans |
| SBA Express Loans |
| Low-Doc Loans |
| Pre-Qualification Programs |
| Export Assistance Programs |
| SBA Patriot Express Loan |
Below
is a summary of the six different SBA loan programs offered through
Advantage CDC. A business may have multiple SBA guaranteed loans through
more than one program, so long as the maximum federal benefit is not
exceeded.
(Click on title to get more information)
Acquisition of business real estate and/or long lived equipment. Minimum purchase price $200,000. Available in loan terms of 10 years or 20 years.
Eligibility:
Business' net worth cannot exceed $7.0 million and net income after
taxes cannot exceed $2.5 million; 7(a) standard for size eligibility
may be used instead. Business must not be engaged in speculation or
investment, including real estate. Financing is available through the
CDC to businesses in California.
Acquisition or refinance of business real estate and/or equipment; working capital supplementation; business acquisition or start-up. No minimum or maximum loan size, but most loans are in the six figure size range. Available in loan terms from 5 years to 25 years, depending on the use of loan proceeds.
Eligibility:
Size standards based on NAICS codes, either gross revenue or number
of employees. Business must not be engaged in speculation or investment,
including real estate.
Acquisition or refinance of business real estate and/or equipment; working capital, supplementation; business acquisition or start-up, plus line of credit. Allows revolving loans up to 7 years. Turnaround time mostly in 36 hours. Some technical assistance arranged or provided by lender to help increase applicants chances of success. Guaranty same as 7(a).
Eligibility:
Same as 7(a) and Pre-Qualification, or be located in a designated area.
SBAExpress relies completely on the lender’s credit analysis, forms and procedures to apply to a loan without prior credit approval from SBA. In return for this flexibility, participating lenders accept a maximum loan guarantee of 50%. The maximum loan is $150,000. Uses same as 7(a), plus Line of Credit.
Eligibility:
Same as 7(a) and Community Express.
Sub-program of 7(a), designed for smaller loans (up to $150,000 loan amount).
Eligibility:
Same as 7(a), but annual revenue must not exceed $5,000,000 and number
of employees must not exceed 100.
Sub-program of 7(a), designed for smaller loans (up to $250,000 loan amount) to businesses that are at least 51% owned by women, U.S. military veterans, or designated ethnic minority persons. Intermediary submits request directly to SBA for pre-qualification in advance of circulating application packages to lenders.
Eligibility:
Same as 7(a), but business ownership must be documented in advance.
Sub program of 7(a), designed for short term working capital loans (less than 1 year) or term loans that support the initiation or expansion of exporting U.S. goods and services to foreign customers.
Eligibility:
Same as 7(a), but business must be in operation for more than 1 year.
Loan proceeds must be used to develop new export markets, or expand
existing export markets, or combat adverse impact of competition from
foreign imports.
SBA Patriot Express Loan
Start-Up;
expansion; equipment purchases; working capital; inventory; and business-occupied
real estate purchases. Designed
for loans (up to $500,000 loan amount)
Eligibility:
Military veterans; service-disabled veterans; active-duty service members
participating in the military’s Transition Assistance Program;
Reservists and National Guard members; current spouse of any of the
above; and the widowed spouse of a
service member or veteran who died during service, or of a service-connected
disability.
*********************************
NOTICE
IMPORTANT INFORMATION ABOUT IDENTIFICATION PROCEDURES WHEN OBTAINING SBA LOANS
To help the government fight the funding of terrorism and money laundering
activities, Federal law requires all Lenders and Certified Development
Companies to obtain, verify, and record information that identifies
each person who applies for a loan.
What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.
