Capital Opportunities for Small Businesses - sbtdc

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PROGRAM AMOUNT % GUARANTEE (MAX) USE OF PROCEEDS MATURITY MAXIMUM C A P I T A L O P P O R T U N I T I E S F O R SMA L L B U S I N E S S E S INTEREST RATES GUARANTEE & OTHER FEES ELIGIBILITY MicroLoan Program $50,000 (Max. Loan Amount) N/A Purchase equipment, machinery, fixtures, leasehold improvements, finance increased receivables, working capital. May not be used to repay existing debt. Shortest term possible. Not to exceed 6 years. Negotiable with Intermediary. No guarantee fee. Same as 7(a) International Trade Loans Same as 7(a) See 7(a) Working capital improvements in U.S. for producing goods or services. May not be used to repay existing debt. 25 year maximum See 7(a) See 7(a) Small business engaged or preparing to engage in intn’l trade or business which has been adversely affected by competition from imports. Export Working Capital Program Fast turn-around, may apply for prequalification letter. Max Loan $2 mil. 90% Short-term working capital loans to finance export transactions. Matches simple transaction cycle or generally 1 year for line of credit. No Cap See 7(a) Guarantee fee .25%. No restrictions on servicing fee. Small business exporters who need short-term working capital. See 7(a) for other qualifications. 504 Certified Development Corp Program The max amount of CDC/504 participation in a single project is $5 mil. or $5.5 mil for projects which meet certain Public Policy Goals. & $4 mil for small manufacturers. 40% of project but not over $1.5 mil. Purchase of major fixed assets such as land, buildings, improvements, long-term equipment, construction, renovation, limited re-financing. 10 or 20 years only Based on current market rate for 5 and 10 year treasury issues, plus an increment above Treasury rate. Fees total approximately 3 percent of the debenture and may be financed with the loan. For profit businesses that do not exceed $7 mil in tangible net worth and did not have avg net income over $2.5 mil for past 2 years. 64
PROGRAM AMOUNT % GUARANTEE (MAX) USE OF PROCEEDS MATURITY MAXIMUM INTEREST RATES GUARANTEE & OTHER FEES ELIGIBILITY SBAExpress Lender approves loan, no additional paperwork $350,000. (Max. Loan Amount) Remains at 50% Same as 7(a); limitations on real estate and construction. May be used for term loans or revolving credit. Term loan same as 7(a) No more than 7 years on revolving line of credit. Lenders will be allowed to charge up to 6.5% over prime for loans of $50,000 or less and up to 4.5% over prime for loans over $50,000. See 7(a) See 7(a) Patriot Express $500,000 (Max. Loan Amount) 90% See 7(a) See 7(a) Range from 2.25% to 4.75% over Prime. See 7(a) Veterans, Active Duty, In the Transition Assistance Program,Reservists , National Guard Current Spouses of above, Qualified Widowed Spouses Small Loan Advantage SBA-guaranteed 7(a) loans up to $350,000. These loans will come with the regular 7(a) government guarantee 85% for loans up to $150,000 and 75% for those greater than $150,000 variety of general business purposes, including working capital and purchases of equipment and real estate Community Advantage $250,000 maximum Same as above aimed at increasing the number of SBA 7(a) lenders who reach underserved communities, targeting community-based, mission-focused financial institutions which were previously not able to offer SBA loans See 7(a) N/A See 7(a) all financial institutions with an executed loan guaranty agreement with the SBA (currently over 7,500 lenders) See 7(a) N/A See 7(a) mission-focused lenders, including Community Development Financial Institutions, SBA’s Certified Development Companies and SBA’s nonprofit microlending intermediaries 65
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