The SBA Community Advantage Loan

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Are you a growing business in need of capital?

    California Statewide CDC offers direct loans for a variety of business needs:

  • Machinery and equipment
  • Leasehold improvements, furniture & fixtures
  • Permanent working capital (inventory, materials, payroll, rent, etc.)
  • Business purchase, startup/expansion and related expenses

Ideal recipients include businesses located in low-moderate income and other designated underserved zones.

Key Loan Features

Loan Size
Up to $250,000

Terms
5-10 years, 25 years for real estate, fully amortizing loan

Rates
Prime + (2.25% to 6%, based on risk), variable

Fees
Loan origination fee - $2,000 to $2,500 (varies with loan size)
SBA guaranty fee – 3% loans over $150,000 (0% for loans $150,000 and under)

Startups Eligible?
Yes (15-30% injection required, portion of which can be gifted)

How do I get started?

    Prequalification is the first step – we’ll need the following:

  • Business tax returns for the past three years, plus interim financial statement
  • Business debt schedule
  • For any owner of 20% or more ownership: personal tax returns for the last three years, plus
    personal financial statement
  • Summary of how loan funds will be used
  • For startup or newer growth businesses: a well thought out business plan, financial projections and assumptions

Contact a California Statewide CDC Loan Officer today


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