SBA Loans
7(a) loan
$50,000 - $5 millionInterest Negotiated between borrower and lender
Maturity:Up to 25 years for real estate.Up to 10 years for business acquisition, equipment.5-7 years for working capital.Weighted average for mixed-use requests.
Use of Proceeds:Purchase machinery, equipment, supplies, furniture, fixtures.Make lease-hold improvements, expand or renovate facilities.Purchase permanent working capital, inventory.Acquire a business.Start a business.Acquire land and build a location.Refinance certain existing debt.
CDC/504 loan
$25,000 - $5.5 millionFixed interest
Maturity:20 years for real estate10 years for equipment
Use of Proceeds:Purchase or renovate capital assets (land, buildings, equipment)Refinancing permitted
Microloan
Maximum of $50,000Interest Negotiated between borrower and intermediary
Maturity:No more than 6 years
Use of Proceeds:Purchase working capitalPurchase furniture, fixtures, supplies, materials, equipment.
Community Advantage
Maximum of $250,000Interest Maximum of Prime +6%
Maturity:Up to 25 years for real estate.Up to 10 years for business acquisition, equipment.5-7 years for working capital.Weighted average for mixed-use requests.
Use of Proceeds:Purchase machinery, equipment, supplies, furniture, fixturesMake lease-hold improvements, expand or renovate facilitiesPurchase permanent working capital, inventoryAcquire a businessStart a businessAcquire land and build a locationRefinance certain existing debt
