| 504 Program |
| 7(a) Program |
| Communty Express Loans |
| SBA Express Loans |
| Low-Doc Loans |
| Pre-Qualification Programs |
| Export Assistance Programs |
| SBA Patriot Express Loan |
LOWDOC LOAN PROGRAM
SBA's LowDoc Loan Program focuses on character, credit, and reliability of applicants who are seeking loans of less than $100,000. There are no formulas for equity injection or collateral coverage; primary considerations include ability and willingness to pay debts, as evidenced by good credit histories.
ELIGIBILITY
The LowDoc Loan Program has the same eligibility requirements for type of business and maturities as the regular SBA 7(a) loan program. Additionally, business must not exceed $5 million in sales and 100 employees.
INTEREST RATES
Interest rates are negotiable; however, they may not exceed SBA maximums as detailed below:
Loan
Amount |
Maturity
up to 7 years |
Maturing
7 years + |
| $25,000 or less | Prime + 4.25 | Prime + 4.75 |
| $25,001 to $50,000 | Prime + 3.25 | Prime + 3.75 |
| $50,001 to $100,000 | Prime + 2.25 | Prime + 2.75 |
MATURITY GUIDELINES
Use
of Proceeds |
Maturity |
| Working Capital | 5-7 years |
| Machinery & Equipment | 7 years or economic life of M&E |
| Business Acquisition | 7 years |
| Leasehold Improvements | 10 years |
