U.S. Small Business Administration

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1 U.S. Small Business Administration SMART PROC Conference The SBA Advantage Resources and Programs for Success

2 SBA Loan Products Regular 7(a) SBAExpress CommunityExpress Patriot Express CapLines International Trade Loan Program Export Working Capital Program Microloans 504/Certified Development Company Americas Recovery Capital (ARC) Dealer Floor Plan (DFP) See loan chart at or on page 30 in the SBA Resource Guide

3 The 7(a) Loan Program SBA s primary business loan program Broad eligibility requirements Wide range of financing needs Maximum loan amount: $2 million Maximum guaranty:* 90% of loan to $1.666 million 90% to 75% of loan from $1.666 to $2.0 million *While the funds last

4 CommunityExpress Streamlined business financing with management & technical assistance Pilot program limited loans Available in pre-designated geographical areas Designed to meet the needs of mostly low- and moderate-income areas and new markets small businesses

5 SBAExpress Maximum loan amount: $350,000 Maximum guaranty: 50% Uses: revolving line of credit/ term loan The bank s own forms quick SBA. turnaround time Maximum interest rates: Prime +6.5% for less than $50,000; Prime +4.5% for more than $50,000

6 Patriot Express Maximum guaranty: 90% Maximum loan amount: $500,000 Uses: Broad eligibility requirements including revolving line of credit /term loan The bank s own forms quick SBA. turnaround time Must be a military community member

7 504/Certified Development Company Maximum loan amount: $1.5 to $4 million Project costs: financed by 504 Loan 40% Lender finances 50% Equity finances 10-20% Uses: long-term; fixed assets Maturity: generally years Interest 504 portion: fixed below market rate established when debenture is sold Interest lender portion: usually adjustable rate but is negotiable with lender

8 504/Certified Development Company The best part is the borrower s 10%- 20% equity doesn t have to be cash from the business owner. It can be a loan from the local economic development authority or from the seller as long as the cash flow from the business covers it. For more information Go to and click on The SBA 504 Loan Program.

9 America s Recovery Capital (ARC) Loan Provides a viable business up to $35,000 over 6 months to be used for principal and interest payments on qualifying debt. Payment deferred for 12 months 100% guaranteed by SBA with no fees or interest to borrower and a 5 year term Viable business is one that has history of good performance and beginning to struggle w/ making loan payments, but can reasonably project that it can get back on track with infusion of ARC loan funds and benefit deferred payments

10 America s Recovery Capital (ARC) Loan Qualifying loans/debt include: Secured & unsecured conventional loans (mortgages, term loans/lines of credit) Capital leases Notes payable to vendors/suppliers/utilities CDC (504) first mortgage loans Credit card obligations Loans made w/ SBA guaranty after 2/17/09 Main page see ARC Icon

11 Bank Debt Defer payments Interest Only Restructure it Extend the terms Lower the rate

12 Vendors Work out a small payment plan and then continue to buy from them COD. Credit Cards Call them. Negotiate the rate down. Negotiate an increase even if they cut your line. Ask to talk to a manager.

13 Landlord Ask for lower rent Ask for deferred rent Ask to pay past due rent in small payments No matter who you owe money to talk to them.

14 How to Pay Business Debts You Can t Afford A Do-It-Yourself Guide Click: Small Business Survival Resources for Your Business Click: How to Pay Business Debts You Can t Afford

15 Funding Credit Your personal credit impacts your business credit. Know your credit score. You can get a credit score for less than $10 at You can also get a free copy of your credit report once a year. Why do an SBA loan? Less down, less collateral, longer terms and lender gets a guaranty

16 Funding - Credit Your borrowing power is based on what lenders refer to as the "Five C's" of credit: Capacity (ability to repay) Capital (money being invested in the business) Collateral (your assets that secure the loan) Character (you and your credit history) Business and Personal Conditions (anything that will affect your business, economy, finances, experience, competitors)

17 The SBA and its partners provide business counseling and training at numerous locations. SCORE SBDC (Small Business Development Centers) Chris Olson: Government Contracting Assistance through the SBA 8(a) Business Development and HUBZone Programs

18 My contact information: Edward Knox Lender Relations Specialist (410) , x309 Small Business Administration Baltimore District Office 10 South Howard Street, Suite 6220 Baltimore, Maryland

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