SBA Loan Program

        7(a) Loans-Max $5Million

       *Must be a for-profit business & meet SBA size standards; show good character, credit, management, and ability to repay. Must be an eligible type of business.

       *Prepayment penalty for loans with maturities of 15 years or more if prepaid during first 3 years. (5% year 1, 3% year 2 and 1% year 3)

       *Long term financing to allow small business to compete more effectively in the inter-national marketplace

504 Loans (Provided through Certified Development Companies (CDCs) which are licensed by SBA)

    Alternative Size Standard:

       *For-profit businesses that do not exceed $15 million in tangible net worth, and do not have an average two full fiscal year net income over $5 million. 

       *Owner Occupied 51% for existing or 60% for new construction.

       *Low down payment – equity (10,15 or 20 percent)

       (The equity contribution may be borrowed as long as it is not from an SBA loan)

       *Fees can be financed; SBA /CDC Portion: Long-term fixed rate, Full amortization and
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