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SBA 7a Community Advantage - Financing for Start-ups and Underserved Communities
Why choose an SBA 7a Community Advantage: The Community Advantage program is designed to provide a financing option for small business start‐ups in underserved communities. The SBA provides a 75 – 85% guarantee, providing participating lenders with more confidence in offering financing to riskier start‐up businesses. Community Advantage can be used to complement other loan programs.
Loan amounts: Up to $250,000
Down payment: Minimum 10%
- Working capital
- Real Estate – purchase, renovation, leasehold improvements
- Business acquisition
- Debt refinancing*
Collateral and security: All loans should be secured by the available assets of the borrower and its principals to the extent necessary to protect the interests of the lender.
- Retail, service and agriculture: Annual sales not to exceed range of $750,000 to $33.5 million
- Wholesale and manufacturing: Number of employees not to exceed range of 100 to 1,000
- Up to 10 years – Working capital/equipment
- Up to 25 years – Real Estate
- Varies – Debt Refinance
Rate: Variable, Maximum = Prime + 6%
Contact us to discuss project feasibility and details of this and other loan programs.