• Acquisition (Land and Building)
• New Construction or Renovation
• Leasehold improvements
• Machinery and Equipment

Loan Amounts

$100,000-$2,000,000 (1MM + will be considered for stronger credit only)

Terms

20 Years Real Estate
10 Years Machinery and Equipment

Interest Rate

Prime + .5% - 2.75% Fixed from primary lender(Varies by State)
CDC Rates typically fixed at less than Prime rates

Loan To Value

70 - 80% (Gas stations/C-stores considered special use facility and have a maximum of 80% financing)

Prepayment Penalties

None

Fees

• None to minimal lender fees
• Packaging fee/good faith deposit
• Customary closing costs
• Construction fee, if applicable, to offset monitoring costs
• SBA charges a fee of approximately 3% (depending on loan amount and percentage of guarantee)

Eligibility

• Owner occupied small business
• US Citizen or permanent resident alien status
• Good credit/character
• Management experience
• Reasonable financial statement or credible projections
• Business must meet SBA size standards

Collateral

• First lien on land, building, equipment and inventory
• Additional outside collateral is necessary if lease-hold improvements are substantial.

Quick Response

Loan decision made within 4 weeks of receipt of completed application.