chfa ssbci programs look out for your small business clients with cca and ccs

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1 chfa ssbci programs look out for your small business clients with cca and ccs

2 chfa overview Mission: Increase the availability of affordable, decent, and accessible housing for lower income Coloradans and strengthen the state's economy by providing financial assistance to businesses Community development lending: CHFA partners with lenders to provide financing resources to help businesses, nonprofits, and developers through targeted products and programs.

3 are you in the know? SSBCI State Small Business Credit Initiative Funding made available through the Small Business Jobs Act of 2010 Office of Economic Development and International Trade provided $17.2 million in funding for CCS and CCA CHFA is the state-appointed organization to administer the SSBCI funds

4 loans supported with ssbci SSBCI Production through December 2014 CCS 118 Deposits $14,389,230 CCA 17 Deposits for $10,918 Partner with us and help Colorado s small businesses

5 cash collateral support (ccs) Credit enhancement Designed to help small and medium sized businesses access capital that would otherwise be unavailable due to collateral shortfalls Deposits of up to $250,000 or 25 percent of loan principal in collateral support (whichever is smaller) Maximum loan size: $5 million Business borrower must have less than 750 employees

6 ccs lender benefits Additional collateral Cash collateral deposits are held by the lender For-profit, nonprofit, and manufacturers are eligible All types of business loans are eligible

7 ccs customer benefits Low cost credit enhancement Streamlined process Helps increase borrowing capacity in situations where collateral is limiting credit

8 ccs example 1 Manufacturer Produces kitchen equipment Real estate refinance for $300,000 Building was valued at $300,000 Bank limits were 75% LTV on real estate CHFA provided a $75,000 cash deposit

9 ccs example 1 collateral value margin policy limit Real Estate $300,000 75% $225,000 Cash Deposit $75, % $75,000 Total $300,000

10 ccs example 2 Service business Mechanic Equipment acquisition for $400,000 Business owner had $60,000 (15%) saved for down payment Bank limits were 75% LTV on equipment CHFA provided a $40,000 cash deposit as additional collateral

11 ccs example 2 collateral value margin policy limit Equipment $400,000 75% $300,000 Cash Deposit $40, % $40,000 Total $340,000

12 colorado capital access (cca) Credit reserve Helps lenders reduce lending risk by establishing and partially funding a loan loss reserve account at each participating lender Additional incentives for loans to women-/minorityowned businesses, or businesses located in State Enterprise Zones Helps small/medium sized businesses access capital by connecting businesses with participating lenders Approve more credit requests

13 cca lender benefits Externally funded loan loss reserve account Sign up is free For-profit and nonprofit clients are eligible Most business loan types are eligible Lender underwrite, originate, close, and service loans Streamlined reporting and enrollment Free marketing and customer referrals included

14 cca customer benefits Low cost alternative to other types of credit enhancements Single point of contact CHFA not involved in credit decision

15 how cca works Lender generates a 4 percent reserve fund by using only 1 percent of its own capital Reserve account is held by the participating lender Reserve balance is pooled in one account similar to traditional loan loss reserve accounts Reserve fund may be used at lender s discretion when a loan is in default Lenders may file claims against the reserve prior to liquidating collateral

16 cca example bank loan examples lender & customer contribution chfa contribution cumulative reserve $50,000 Business Line of Credit $1,000 $1,000 $2,000 $30,000 Equipment Loan $600 $600 $3,200 $100,000 Business Line of Credit $2,000 $2,000 $7,200 $75,000 Working Capital Loan $1,500 $1,500 $10,200 $50,000 Business Line of Credit $1,000 $1,000 $12,200 Total $5,100 $5,100?

17 current trends Smaller credits Service businesses with fewer assets Shorter term loans Low claims To date, CHFA has had no claims on loans enrolled in CCA.

18 questions?

19 stay connected with chfa Register for CHFA enews at Take part in a webinar by ing jvause@chfainfo.com Facebook Twitter YouTube

20 get the deal done contact us Wyatt K. Jones CHFA Sr. Commercial Lender Justin Vause CHFA Commercial Lender

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