SBA 504 Loan Program Training Seminar

Size: px
Start display at page:

Download "SBA 504 Loan Program Training Seminar"

Transcription

1 SBA 504 Loan Program Training Seminar Community Capital Development Corporation SBA 101 FY 2011

2 SBA 504 Loan Program Welcome! n CCDC Staff" n Please Ask Questions"

3 Why 7(a) and 504?! Access to Capital vs. Incentive Financing! 7(a) Access to Capital (Lender of Last Resort)" Businesses that cannot access conventional financing! Typically undercapitalized! Lacking in experience/track record! Specialized collateral/lack of collateral! Marginal historic cash flow! 504 Incentive Financing (Economic Development Financing)" Stimulate private sector investment in long term fixed assets! Increase productivity! Create new jobs! Increase and/or stimulate local tax base! Long term, low down payment, reasonably priced financing " to healthy, expanding businesses that have a " high probability of successfully creating new jobs. "

4 Why 7(a) and 504! 7(a)! n Working Capital" n Receivables" n Inventory" n Fixtures" n Equipment" n Building & Land" 504! n Land" n Acquisition of Building" n Remodel" n Construction" n Equipment" n Professional Fees" n Contingencies"

5 History of the 504 Program! n! n n n Created in October 1980; Section 503 of the Small Business Investment Act! 503 Program funded loans through the sale of Debentures to the Federal Financing Bank (a part of the U.S. Treasury)! 504 Program funds loans through the sale of Debentures to the Private Capital Markets! Since 1980, over 40,000 loans have been made representing financing of over $20 Billion, resulting in the creation or retention of over 1 million jobs!

6 503/504 Loans by Industry Type! Construction 5% Transportation 3% Others 5% Wholesale Retail 32% Services 33% Manufacturing 22%

7 Certified Development Companies (CDC)! n Licensed and regulated by the Small Business Administration (SBA)" n SBA grants geographic boundaries" n All CDC s operate Statewide, some are multistate" n Most are non-profit organizations" n Some are affiliated with public entities, or other non-profits " n CDC s have a Public Purpose - Economic Development"

8 CDCs...! n Must have professional staff available to:! n Market the Program" n Package and Process Loans" n Close Loans" n Service Loans" n Liquidate Loans! n Many CDC s administer other finance programs! n Revolving Loan Funds (CDBG, City, County)" n Other State and Local Programs " n SBA 7(a) Loan Packaging" n Microloan"

9 Certified Development Co.! n Certified Development Companies (CDC)! n Certified by SBA to market, process, underwrite, and close 504 loans" n Must service their portfolio" n Must continually produce an adequate number of loans to retain certification"!

10 Goals of the 504 Program! n n n n n Create Economic Development Opportunity in a Community" Provide Affordable Long Term Financing For Business Expansion" Give a Financial Incentive to encourage Private Lender Participation" Give A Financial Incentive to Stimulate Business Capital Investment" Provide Access to Public Capital Markets for Small Business" DEVELOPMENT COMPANIES ASSIST SBA BY STRETCHING SBA S LIMITED RESOURCES

11 Higher Collateral Risk In Exchange for Economic Development! The 504 loan program was created to meet economic development financing objectives. Its structure is specifically designed to be an incentive for lenders to participate in financing those businesses that will meet certain economic development criteria. "

12 Higher Collateral Risk In Exchange for Economic Development! Because of the unique economic development purposes of the program, it is appropriate to have different collateral requirements for 504 loans than those imposed on 7(a) financings. Generally, the primary CDC/SBA collateral will be a lien, subordinate to a third party lender, on the project property."

13 Higher Collateral Risk In Exchange for Economic Development! SBA will go out on the collateral limb farther than a conventional lender or than allowed under 7(a), in exchange for the economic development benefit that results from the financing."

14 Model 504 Financing Structure! CDC/SBA 40% Equity Injection 10% Private Sector Lender 50%

15 Structure Guidelines! n Private Sector Participants! n Usually a Bank; must have experience at this type of lending." n May take the priority lien on assets pledged as collateral." n Must offer term of 10 years if debenture is 20 years (or 7 if debenture is 10 years)." n May set rate and fees (legal and reasonable)." n Their loan cannot be guaranteed by SBA. "

16 Structure Guidelines! n CDC/SBA Participation! n Maximum is usually 40% of eligible project costs" n Takes a lien subordinate to the private sector lender on assets pledged as collateral for the loan" n Can offer either a 10 or 20 year term (depending on the assets financed)" n Provides a fixed interest rate loan" n CDC issues a debenture (bond) that is guaranteed 100% by SBA. "

17 Structure Guidelines! n Equity or Local Injection! n Minimum is usually 10%" n Limited use or Start Up 15%; Both 20%" n In the form of cash or equity in real estate" n Usually required of the borrower" n May be a loan from CDC or other lender (rare); if secured, it must be subordinate to CDC/SBA and private sector lender. (Term should be same or longer)"

18 Advantages of a 504 Loan! n For the Borrower! n Low Down Payment" n Fixed interest rate second mortgage loan" n Long Term Financing" n Rate of private sector financing usually more favorable (Low LTV)" n In credit crunch - getting a loan at all" n Collateral usually limited to project assets"

19 Advantages! n n For the Private Sector Lender! n Excellent Loan to Value " n Mitigates risk" n US. Government as Subordinate Lender" n Minimal restrictions on rates: rate must be reasonable" n Less paperwork and red tape than a 7(a) loan" n 504 first mortgage secondary market" For the Community! n Jobs" n Capital Investment; Tax Base Increase" n Stimulation of Other Development" n Greater Access to Capital for underserved markets!

20 What they may not like...! n For the Borrower" n Prepayment Penalty for the first half of term of CDC loan" n 504 financing limited to fixed assets" n Slightly higher fees/closing costs" n For the Private Sector Lender! n Bank Participation Fee (0.5% of bank loan, may be passed on to the borrower)" n The SBA process is tightly defined and there is little wiggle room to change the process"

21 Debenture Pricing Model! 10 Year Treasury " " "2.01%"" + Spread to Investor" " "0.86%"" = Debenture Rate " " "2.87%!! + SBA subsidy cost " " "1.04%"" + CSA fee " " " "0.10%"" + SBA Guarantee Fee " "0.125%" + Minimum CDC Servicing fee "0.625%" "" Full Term Effective Rate!!4.76%!!

22 Prepayment Penalty (20 Year)! YEAR! % % Of Principal Outstanding! 1 100% % 2 90% % 3 80% % 4 70% % 5 60% % 6 50% % 7 40% % 8 30% % 9 20% % 10 10% % After 10 0% %

23 Prepayment Penalty (10 Year)! % Of Principal! YEAR!!!%! Outstanding! 1 100% % 2 80% % 3 60% % 4 40% % 5 20% % After 5 0% %

24 Basic Eligibility for 504 Financing! n Be an Operating Business (Except for loans to Eligible Passive Concerns)" n Be organized for Profit" n Be Located within the United States" n Be Small Under the Program Size Standards" n Demonstrate the need for the desired financing" n Meet an economic development objective of the program"

25 Liquid Personal Resources! EXCESS PERSONAL RESOURCES MUST BE INJECTED INTO THE PROJECT PRIOR TO DISBURSEMENT OF ANY SBA FINANCING.! n If the Total Financing Package" n Based on the size of the project: personal liquid assets can not exceed the size of the project. If they do then the borrower may have to inject additional equity"

26 Additional Personal n LIQUID ASSETS: " Resources! n Cash or cash equivalent" n Savings Accounts, CD s, Marketable Stocks and/or Bonds" n Cash Surrender Value of Life Insurance" n Applies to personal resources of owner(s) of 20% or more" n IRA or other Retirement Accounts; Real Estate and Other Personal Property are Exempted." n Consider each owner separately. "

27 Additional Personal Total Financing Package =" " + First Mortgage" + GROSS Debenture" + Equity Injection" Resources! + Any other financing associated with but not included in 504 project"

28 Credit Not Available Elsewhere! SBA requires Lender or CDC to show that the desired credit is unavailable to the applicant from non-federal sources without SBA assistance.!! This must be indicated in the bank commitment letter and in the CDC credit memorandum.!

29 Credit Not Available Elsewhere! n FACTORS WHICH MAY PREVENT FINANCING FROM BEING AVAILABLE WITHOUT SBA ASSISTANCE.! n Repayment capability requires maturity period that exceeds bank s policy." n Bank s legal lending limit would be exceeded" n Bank s liquidity is insufficient without proceeds of secondary market sale of the loan, which is made possible by participation with SBA" n Uniqueness or value of available collateral is unacceptable to the bank" n Risk associated with the start-up nature of the business exceeds the bank s normal credit policy" n Any other factors relating to the credit in the lender s opinion cannot be overcome except for participation with SBA"

30 ECONOMIC DEVELOPMENT CRITERIA! n Jobs " and/or" n Community Impact" and/or" n Public Policy Goals" Community Impact and Public Policy Goals can only be used for Economic Development Eligibility when the CDCs Portfolio as a whole creates one job per $65,000 or better."

31 JOBS! n Create or retain one full time equivalent job for every $65,000 of SBA Guaranteed dollar in the project." n For Manufacturing businesses, create or retain one Full Time Equivalent Job for every $100,000 of SBA Guaranteed dollar in the project. " n Job Creation would take place in the first TWO YEARS after project placement." n Retained Jobs are jobs that would be lost BUT FOR the project."

32 Community Impact" n Improve, diversify or stabilize the economy of a locality" n Stimulate other business development" n Bring new income into the community" n Assist Manufacturing Firms" n Assist businesses in a Labor Surplus Area"

33 Public Policy Goals (aka National Objectives)" n n n n n n n n Revitalize a Business District of a community with a written and defined Revitalization or Redevelopment Plan" Expand Exports (10% or more of annual gross revenues from exporting)" Expanding Minority Enterprises Development (51% ownership; 8a definition)" RURAL Development (communities under 20,000 or with District approval)" Increase Productivity and Competitiveness (retooling, robotics, plant modernization, competition with imports)" Modernizing or upgrading facilities to meet health, safety and environmental requirements" Assisting Communities affected by Federal Budget Reductions including Base Closures or loss of Federal Contracts" Expanding business ownership opportunities for veterans and women"

34 Maximum Loan Amount! n An eligible entity may borrow up to 40% of the project or a total SBA guaranteed portion of $5 million." n An eligible manufacturing company may borrow up to 40% of the project or a total SBA guaranteed portion of $5.5 million." n If applicant (or affiliates) has existing SBA loans, the total guaranteed portion must not exceed the maximums stated above."

35 Minimum Loan Amount! n The debenture should be no less than $50,000. That translates to a project size of about $125,000." n With special permission from District Office, the debenture can be less, but can never be less than $25,000."

36 504 Size Standards! Tangible Net Worth of no more than $15 million AND Net Profit after Tax (2 year average) of no more than $5.0 million" -or-" Use 7(a) size standards as an alternative" " (Size standards increase by 25% in " Labor Surplus Areas)"

37 Ineligible Types of Businesses! n Non-Profit Institutions" n Finance Businesses (Banks, Finance Companies, Insurance Companies, etc)" n Real Estate Development and other Speculative Business" n Business Located in a Foreign Country [Legal Permanent Resident LPR]" n Pyramid Sales Distributions" n Businesses deriving more than 1/3 of Gross Annual Revenues from Legal Gambling" n Businesses that limit membership for reasons other than capacity"

38 Ineligible Types of Businesses! n Government Owned Entities (Except Tribal)" n Businesses Principally engaged in Teaching, Instructing, Counseling or Indoctrinating Religion or Religious Beliefs" n Consumer Marketing Co-ops (Producers Co-ops OK)" n Businesses earnings more than 1/3 of income from packaging of SBA loans" n Businesses in which the Lender or CDC or any of its associates owns an equity interest" n Businesses primarily involved in political or lobbying activities."

39 Ineligible Types of Businesses! n Businesses which present live performances of a Prurient Sexual Nature or derive more than de minimus gross revenues from the sale of products or services of a prurient sexual nature" n Unless, waived by SBA, businesses that have previously defaulted on a Federal loan or Federallyassisted financing" n Businesses where an associate is incarcerated, on probation or parole, or has been indicted for a Felony or crime of moral turpitude" n Businesses engaged in any illegal activity"

40 Eligible Use of Proceeds!! n Acquisition of Land" n Land Improvements" n Purchase of one or more existing buildings " n Operating Company must occupy 51%" n 504 Projects funds cannot make tenant improvements" n Remodel, convert, expand or renovate existing building(s)" n Refinancing of existing loan (not SBA) with some restrictions and for a limited time "

41 Eligible Use of Proceeds!! n Construction of New Building! n Operating Company needs to occupy at least 60% with plans to occupy 80% within 10 years. Can lease up to 20% indefinitely. Must plan to utilize the remaining 20% within 3 years.

42 Eligible Use of Proceeds!! n Acquisition of Machinery & Equipment (generally with a 10 year useful life)" n Contingency Reserve, not to exceed 10% of construction costs" n Professional Fees" n Repayment of Interim points, fees and interest" n Community Improvements up to 5% of construction costs"

43 Eligible Use of Proceeds!! n NINE MONTH RULE: Costs incurred within 9 months of the date of application to SBA can be included in project costs. " n Waivers available for good cause" n Land costs can always be included." n After two years, equity determined by appraisal. Otherwise, cost is always the basis."

44 Ineligible Use of Proceeds! n Working Capital" n Counseling Fees" n Incorporation or Other Organizational Costs" n Commitment Fees; Finance Broker Fees; Origination Fees for Private Sector Financing" n Franchise Fees"

45 Ineligible Use of Proceeds! n Equipment or Furnishings with less than a 10 year useful life, unless..." n They are an integral part of the project and/or" n They are a minor portion of the project" n Automobiles, Trucks, Airplanes" n Advertising" n Borrower Closing Legal Fees" n Goodwill"

46 CAN I DO THIS?! A customer is building a new grocery store facility in a rural community. Our Bank wants to lease space in the new store for a retail branch. We are planning a 15 year lease. The borrower also wants to lease small amounts of space within the store for a dry cleaner; a Fast-Foto processing company and a Pharmacy. "

47 CAN I DO THIS?!

48 CAN I DO THIS?! I have a customer that wants to hold title to his land and building is his and his spouse s name, and then lease it to his corporation. "

49 CAN I DO THIS?!

50 Eligible Passive Concern (EPC)! A small entity or trust which does not engage in regular and continuous business activity, rather it leases real or personal property to an Operating Company for use in the Operating Company s business."

51 Eligible Passive Concern (EPC)! n An EPC must use loan proceeds to acquire or lease and/or improve real or personal property that it leases to an Operating Company" n Any ownership structure or legal form may qualify as an EPC" n The EPC (with the exception of a trust) and the operating Company each must be small businesses under the appropriate size standards. They may or may not be affiliates depending on circumstances.

52 Eligible Passive Concern (EPC)! n Lease including options must have a remaining term equal to the term of the loan" n Operating Company will be a guarantor unless the loan proceeds are used to acquire personal property - then the OC is a co-borrow" n Each holder of an ownership interest of 20% or more of the EPC and/or the OC must guaranty the loan. Trustee shall execute a guaranty on behalf of the trust" n Rent paid by OC to EPC limited to PITI & maintenance"

53 CAN I DO THIS?! I have two customers who want to share ownership of a building for their businesses. One is an Air Conditioning Contractor and the other is a very successful Plumbing Contractor. In fact, the two sometimes work on projects together. They want to hold title to the building in an LLC, in which they are 50/50 members. The LLC would lease space to both businesses. "

54 CAN I DO THIS?! Jones AC is a Sole Proprietorship owned 100% by Bob Jones." Bill Smith Plumbing Inc. is a Corporation owned 90% by Bill Smith and 10% by Ray Roberts."

55 CAN I DO THIS?!

56 CAN I DO THIS?! Two dentists in rural California have decided to build an office facility which they would own jointly. For liability reasons, they want to maintain individual dental practices. Steve Hansen, DDS, PC is a professional corporation owned 100% by Steve Hansen. Julie Summers, DDS, PC is a professional corporation owned 100% by Julie Summers." They propose to own the real property in a Limited Liability Company, BRUSH and FLOSS LLC. The members of the LLC are the two corporations: Steve Hansen DDS PC (50%) and Julie Summers DDS PC (50%). BRUSH and FLOSS LLC would lease to the two individual practices (two OC s). They would also like to lease space to an unrelated third party, Cal Dental Labs. "

57 CAN I DO THIS?! Steve Hansen and Julie Summers must lease 100% of the project from Brush and Floss LLC, and then may sublease to Cal Labs.!

58 Additional Injection Requirements! Effective 10/1/1996, statute requires ADDITIONAL INJECTION to reduce the SBA s exposure for projects with perceived higher credit risk, namely..." n New businesses" n Limited-use property" n If an existing business changes ownership it is considered as a startup and requires additional injection"

59 Additional Injection Requirements! NEW BUSINESS BORROWER" n Business in Operation less than 2 years" n Add an additional 5% injection" 50% "Bank " " "$ 500,000" 35% "CDC/SBA " "$ 350,000" 15% "Local Injection "$ 150,000" Total Project Costs " "$1,000,000"

60 Additional Injection Requirements! LIMITED USE FACILITY" n Facility being financed by the 504 loan is a Limited Use or Special Purpose Facility" A limited market property with unique physical design, special construction materials, or a layout that restricts its utility to the use for which it was built " n Add an additional 5% injection" n Appraiser is the final arbiter if there is a disagreement as to status"

61 Additional Injection Requirements! For a project for both a new business & a" limited use facility, add 10% to the minimum" injection, for a total of 20% " (Max CDC participation drops to 30%)" 50% "Bank " " "$ 500,000" 30% "CDC/SBA " "$ 300,000" 20% "Local Injection "$ 200,000" Total Project Costs " "$1,000,000"

62 504 Credit Criteria! What We Look For In A Borrower! n Good character" n Management expertise and commitment" n Sufficient funds to operate the business on a sound financial basis." n Feasible business plan" n Adequate equity in the business" n Adequate cash flow to make loan payments" n Sufficient collateral"

63 504 Credit Criteria! Repayment Ability The overall strength of the borrower, including its track record and cash flow, will generally be more important that the value of the project collateral... "

64 504 Credit Criteria! Repayment Ability! n Based upon existing financial statements of the applicant. Can the additional debt be paid based on historical cash flow?" n Generally a cash flow coverage ratio of 1.25:1 or better is considered desirable." n Lease income may be included but should be verified" n Non-recurring expenses and discretionary officer salary may be added"

65 504 Credit Criteria! Collateral! Generally if the 504 loan is being made to an existing business with proven management and a strong consistent cash flow that is more than minimally adequate to support the new debt, and if the project is a logical extension of the applicant s current operations, you may approve a loan without requiring an equity injection greater than the minimum required by statute or collateral other than the appropriate lien(s) on the project assets being financed... "

66 504 Credit Criteria! Collateral" Second Mortgage (Trust Deed) on Real "Property" Second lien on Personal Property (SBA " would prefer a first lien on mixed use " projects)" Personal Guaranty required of any 20% " or more owner (of EPC and OC)"

67 504 Credit Criteria! Secondary Collateral! If above conditions are not met, SBA must consider these alternatives: Pledge of additional collateral including personal residence or other real property" Borrower to inject more equity than statutorily required minimum." " If Borrower is unable or unwilling to provide additional collateral, loan may be declined"

68 504 Credit Criteria! Secondary Collateral! Avoid taking a lien on inventory, accounts receivable and assets not eligible for 504 financing in order to preserve the firm s ability to finance working capital."

69 504 Credit Criteria! Other Issues! Life Insurance: May be required if management does not display appropriate depth and succession." Environmental Issues: Environmental Questionnaire, Transaction Screen Analysis or Phase I/II necessity is determined by Lender and CDC. Certain industries require a Phase 1 analysis." Appraisals: Must be addressed to Lender, SBA and CDC. Ordered by Senior Lien holder."

70 Process: Loan Packaging & Approval! 1. Borrower makes contact with Bank & CDC. CDC screens for eligibility & credit, while Bank screens for credit." 2. CDC works with Bank and Borrower to begin preparation of application package including:" " "Contractor Bids" " "Equipment Suppliers Bids" " "Appraisal and Environmental reports" 3. Upon receipt of complete package, CDC and Bank structure final financing package and go to respective committees for approval." " "Bank approves subject to SBA final approval" " "CDC Committee/Board approved & submits to SBA" 4. Upon SBA credit approval, and legal review approval, an Authorization for Debenture Guaranty is issued. Funds are ordered and committed through SBA Processing Center " 5. With Authorization signed by SBA, CDC and Borrower, construction can begin (or interim loans can fund to close escrow)." " ""

71 Process: Loan Closing and Funding! 1. CDC counsel prepares or reviews CDC loan closing documentation and supporting materials. (One to three weeks)" 2. Upon finalization of loan closing documentation, issuance of Title Commitment and receipt of Notice of Completion / Certificate of Occupancy, CDC submits documentation to SBA Legal Counsel for review. SBA Legal Review. (About two weeks)" 3. CDC Counsel makes any changes required by SBA Counsel." 4. Documentation is forwarded to Colson Services for pooling and issuance of Development Company Participation Certificates." 5. Upon funding, Colson Services distributes funds as instructed; interim loan is reduced -or- escrow is funded. "

72 90% One Loan Closing! Bank CDC 2nd/Int st 0.5 n Bank advances 90%; Secured by 1st" n CDC records 2nd" n 504 proceeds pay down interim balance" n Bank modifies interim note" n No future advance " Where Bank advances 90%, other collateral can be taken to keep Bank within LTV advance policy. The other collateral is usually released upon CDC/SBA loan funding."

73 50% / 40% Loan Closing! Bank Bank CDC n Bank advances 2 notes & records 2 Deeds or Mortgages" n CDC records and pays off the Bank s 2nd note." n Bank cancels interim note and mortgage" 2nd/Int st 0.5

74 90% Interim Loan/ 2 Permanent Loans Closing! Bank A Bank B CDC 2nd/Int st n Lender A advances 90% interim loan." n Lender B advanced 50% Permanent Loan" n CDC records 3rd" n CDC proceeds combined with Lender B pay off Interim Loan from Lender A"

75 Multiple Interim Lenders! Bank A Bank B CDC 2nd/Int st 0.5 n Bank A advances 70%" n Bank B (or other lender) advances 20%" n CDC records 3rd" n CDC loan pays down Bank B and part of Bank A loan." n Bank cancels interim note and mortgage"

76 New Construction - Bank Financing! n Land and/or Purchase of Existing Bld." "$100,000" n New Construction/remodeling" " "$800,000" n Machinery & Equipment " " "$ 0" n Appraisal, Architect, Environmental " "$ 4,000" n Contingency, Construction " " "$ 25,000" n Total Project" " " " "$929,000" n Small Business Concern " " "$185,800 20% "" n Bank " " " " "$743,200 80%" n Total" " " " " "$929,000" This is an example of a project, assuming bank only financing at an 80% advance rate."

77 Same Project - Alternative Structures! n Land and/or Purchase of Existing Bld." "$100,000" n New Construction/remodeling" " "$800,000" n Machinery & Equipment " " "$" n Appraisal, Architect, Environmental " "$ 4,000" n Contingency, Construction " " "$ 25,000" n Total Project" " " " "$929,000" Small Business Concern " Land Injection from City" Bank" CDC " TRADITIONAL $185,800 20% $ 0 0% $743,200 80% $ 0 0% $929, $ 92,900 10% $ 0 0% $464,500 50% $371,600 40% $929, & GRANT $ 0 0% $ 92,900 10% $464,500 50% $371,600 40% $929,000

78 Bank/504 Financing with Land Gift & Grants! n Land and/or Purchase of Existing Bld. "$ 24,000" n New Construction/remodeling " "$ 600,000" n Machinery & Equipment " " "$ 397,000" n Appraisal, Architect, Environmental " "$ 2,000" n Contingency, Construction " " "$ 23,000" n Total Project" " " " "$1,068,000" n Small Business Concern " " "$ 0 " n Land Gift from City " " " "$ 24, %" n Grants (City, State, etc) " " "$ 200, %" n Bank " " " " "$ 470, %" n CDC " " " " "$ 373, %" n Total " " " " "$1,068,000" Existing Business & special purpose, City provided land and grant while the State provided grants. This structure reduced the SBC s cash injection by $160,200, preserving working capital."

79 Lender Participation Fee! n To assist in reducing the Government s subsidy cost, non-federal (private) lenders in a lien position superior to SBA pay a ONE TIME Participation Fee of 50 Basis Points (0.5%) of their term loan." n The Participation Fee is collected by the CDC at closing. " " One Time! 50% "Bank " " "$ 500,000 x.005 = $2,500" 30% "CDC/SBA " "$ 300,000" 20% "Local Injection " "$ 200,000" Total Project Costs " "$1,000,000"

80 Loan Origination! Bank Note Borrower SBC Note SBA Guaranty CDC Debenture Investors

81 Pooling Debentures! SBA CDC Guaranty Debenture DCFC Fiscal Agent DCPC - Pool Creation Offering Circular Investors Underwriters Merrill Lynch/ First Boston

82 Flow of Funds at Closing! SBA CDC Fees $ Interim Lender Proceeds $ $ Underwriters Merrill Lynch/ First Boston $ D C P C Guaranty DCFC Fiscal Agent Colson Services Bank of NY Investors

83 Flow of Funds via Monthly Payments! CDC SBA $ Fee Reporting Guaranty Verification and Make Good " $ Colson Services Bank of NY! $ Semi Annual Pmt" SBC $ Bank Investors!

84 CCDC Community Capital Development Corporation Thank You!

85 CCDC s Area of Operations Each of CCDC s loan programs operate in different areas:!! SBA 504: Statewide" Ohio 166: Statewide " Child Day Care Microloan: Statewide" City of Columbus: Within the city limits of Columbus and Neighborhood Commercial Revitalization (NCR) areas" Franklin County Growth Fund: Franklin County, not the City of Columbus" "

86 Nationally: 504 Top 10! n Eating Places Except Food Services Institutional" n Hotels & Motels" n Military & Aerospace Equipment Manufacturers" n Grocery Stores" n Gasoline Service Stations" n Child Day Care Services" n General Automotive Repair Shops" n Offices & Clinics of Dentists" n Offices & Clinics of Doctors of Medicine" n Motor Vehicle Dealers"

87 Community Capital Development Corporation Contact List (fax) Carrie Paul! Missy Renner! Loan Officer" " cell" Columbus" Loan Officer" " cell" Dayton"!!! "

504 Loan Program. First Mortgage Lender Training

504 Loan Program. First Mortgage Lender Training 504 Loan Program First Mortgage Lender Training SBA programs are suited to businesses in various stages of development S T A R T U P Access to Capital 7a SCORE SBDC Management Assistant Programs Incentive

More information

LENDERS SUMMARY OF 504 RULES

LENDERS SUMMARY OF 504 RULES LENDERS SUMMARY OF 504 RULES Eligibility applies to Nine areas 1. Size 2. Credit Not Available Elsewhere 3. Personal Resources of the Borrower 4. Use of Proceeds 5. Types of Businesses 6. Job Criteria(Economic

More information

SBA 504 Loan Program FACT SHEET

SBA 504 Loan Program FACT SHEET SBA 504 Loan Program FACT SHEET The Oakland County Business Finance Corporation (OCBFC) was certified under the Small Business Administration's (SBA) Certified Development Company program in September

More information

SBA Lending - Introduction

SBA Lending - Introduction SBA Lending - Introduction Facilitated by: Jim Kahler - Texans Credit Union Dale Donnell SBA Consulting, LLC Perry Espie US Small Business Administration American Recovery and Reinvestment Act 90% guaranty

More information

Graduate School of Colorado SBA lending Presentation

Graduate School of Colorado SBA lending Presentation Graduate School of Colorado SBA lending Presentation SBA lending course summary The course will provide an overview and comparison of SBA 7a, SBA 504 and USDA Business & Industry (B&I) loan programs. SBA

More information

SBA Business Loan Programs

SBA Business Loan Programs SBA Business Loan Programs Horizon Certified Development Company Horizon Certified Development Company Incorporated in 1982 as Hamilton County Development Co., Inc. (HCDC) HCDC is a Certified Development

More information

DISCLOSURE STATEMENT HCDC

DISCLOSURE STATEMENT HCDC DISCLOSURE STATEMENT HCDC (Hamilton County Development Co., Inc.; dba: Horizon Certified Development Company) U.S. Small Business Administration 504 Loan Program The SBA 504 Loan Program offers eligible

More information

SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions

SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions SBA 504 Debenture Program Long-term financing for fixed asset acquisitions and expansions Economic Development Objectives of SBA 504 Economic Development Objectives maximum 504 Loan Job Factor Job Creation/Job

More information

VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED

VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED VISION INCREASING OPPORTUNITIES FOR ALL SMALL BUSINESSES TO SUCCEED SBA FINANCIAL ASSISTANCE An SBA guaranty is designed to help small businesses get access to reasonable credit from commercial lenders.

More information

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates

Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Entrepreneur Academy: SBA 504 & 7(a) Loan Programs & Updates Wendy J. Jeffers Sr. Lending Officer: SBA Programs wjeffers@sbacsav.com Mobile: 912.398.3090 or 888.287.2137 In full operation since September

More information

SBA Lending. MCUL Lending Conference. What does a guaranty mean to you?

SBA Lending. MCUL Lending Conference. What does a guaranty mean to you? SBA Lending MCUL Lending Conference What does a guaranty mean to you? What will be covered Benefits of SBA SBA Loan Programs 7(a) Lending Parameters Determining Eligibility Credit Considerations Use of

More information

LISC Small Business Loan Fund

LISC Small Business Loan Fund LISC Small Business Loan Fund P R E S E N T E D BY: K EN ROSENTHAL CDC S M A L L B U S I N E S S F I NA N C E Kevin Boes LISC N e w M a r ke t s S u p p o r t C o m p a ny LISC Small Business Loan Fund

More information

Financing Downtown Businesses

Financing Downtown Businesses Financing Downtown Businesses Presented by: David Kircher 1 Wisconsin Business Development Finance Corporation Certified Development Company Authorized to work with SBA 504 Program Fixed Asset Financing

More information

SBA 504 Non Bank Business Model. Presented by Sok Cordell

SBA 504 Non Bank Business Model. Presented by Sok Cordell SBA 504 Non Bank Business Model Presented by Sok Cordell CH Capital Partners LLC (SBA Non Bank Lending Program) The information contained in this presentation has been obtained from sources believed to

More information

Capital Solutions 504 Loan Application Checklist

Capital Solutions 504 Loan Application Checklist Capitalsolutions@charter.net (205) 969-0133 Capital Solutions 504 Loan Application Checklist I. Loan Application Loan Application II. Business Financial Documents 3 Year Financial Statements 3 Year Federal

More information

Commercial Real Estate. Financing Programs. The SBA Adv. www.sba.gov/ma. www.sba.gov. Programs and services to help you start, grow and succeed

Commercial Real Estate. Financing Programs. The SBA Adv. www.sba.gov/ma. www.sba.gov. Programs and services to help you start, grow and succeed Commercial Real Estate Programs and services to help you start, grow and succeed Financing Programs The SBA Adv /ma Programs and services to help you start, grow and succeed We are the SBA History: Part

More information

Credit Connections Leveraging Resources to Strengthen Deals. U.S. Small Business Administration

Credit Connections Leveraging Resources to Strengthen Deals. U.S. Small Business Administration Credit Connections Leveraging Resources to Strengthen Deals U.S. Small Business Administration 1 Lenders Benefits of SBA Loans SBA s Guaranty reduces a Lender s Risk Helps lenders make loans with longer

More information

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing

The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing Commercial Lenders The FFCFC 504 Loan Program: A Unique Alternative for Small Business Fixed Asset Financing The FFCFC 504 Loan Program is designed to help small business owners expand through the purchase

More information

An Introduction to the SBA 7(a) and 504 Loan Programs

An Introduction to the SBA 7(a) and 504 Loan Programs An Introduction to the SBA 7(a) and 504 Loan Programs Edward W. Ahart, Esq. Thomas L. Hofstetter, Esq. 220 Park Avenue Florham Park, NJ 07932 (973) 539-1000 Partner at Schenck Price Smith & King, LLC in

More information

August 16, 2011. CBNA Commercial Banking SBA Loan Programs

August 16, 2011. CBNA Commercial Banking SBA Loan Programs August 16, 2011 CBNA Commercial Banking SBA Loan Programs Table of Contents Topics Pages What is the SBA? 2 Program Benefits 3-4 SBA 7A Loan 5-7 SBA 504 8-11 Application Requirements 12 SBA Loan Process

More information

WHAT IS A REAL (504) LOAN?

WHAT IS A REAL (504) LOAN? WHAT IS A REAL (504) LOAN? The Real Estate Advantage Loan (also known as a REAL or 504 Loan) is a 10% down, fixed-rate, long-term loan designed to expand capital access, filling a market gap in long-term

More information

SBA 504 Loan Program. Jobs, Communities

SBA 504 Loan Program. Jobs, Communities SBA 504 Loan Program Growing Small Businesses, Jobs, Communities What is 504? Economic Development Financing Tool Financesfixed assets for healthy, expanding businesses Low down payment to preserve cash

More information

USDA Business & Industry (B&I) Guaranteed Loan Program

USDA Business & Industry (B&I) Guaranteed Loan Program USDA Business & Industry (B&I) Guaranteed Loan Program B&I Program To Create And Maintain Employment And Improve Economic And Environmental Climate In Rural Communities Administered By The Rural Business

More information

#1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition?

#1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition? Responses to On-Line Questions from SBA 504 Teleseminar #1 Q: How are we assured that Zion's does not share their/our portfolio information with the competition? A: We operate entirely independent from

More information

SBA 504 Loan Program Lender s Guide

SBA 504 Loan Program Lender s Guide Eligible Use of Proceeds: Land acquisition and improvements New construction Purchase of existing building(s) Renovations to existing building(s) Purchase of Machinery and Equipment (minimum of 10 years

More information

Community Investment Corporation 504 Loan Application

Community Investment Corporation 504 Loan Application Community Investment Corporation 504 Loan Application Business Information Operating Company Primary Contact for OC: Secondary Contact for OC: Cell Phone: Business Phone: Business Fax: Cell Phone: Business

More information

Overview of SBA Economic Development Programs and the Impact of the Recovery Act

Overview of SBA Economic Development Programs and the Impact of the Recovery Act Overview of SBA Economic Development Programs and the Impact of the Recovery Act 1 Access to Capital SBA guarantees loans on reasonable terms through financing partners to small businesses that are unable

More information

BaltimoreMICRO - Revolving Loan Fund

BaltimoreMICRO - Revolving Loan Fund BaltimoreMICRO - Revolving Loan Fund sbrcbaltimore.com FACT SHEET Description and purpose Administered by the Baltimore Development Corporation (BDC), the purpose BaltimoreMICRO is to provide existing

More information

NAVIGATING TODAY S CREDIT JUNGLE ALTERNATIVES

NAVIGATING TODAY S CREDIT JUNGLE ALTERNATIVES NAVIGATING TODAY S CREDIT JUNGLE AN OVERVIEW OF SBA FINANCING ALTERNATIVES November, 2011 Timothy D. Dixon Head of Small Business Administration (W) 216-514-5431 timothy.dixon@citizensbanking.com 1 Discussion

More information

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP

Business Financing. An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Business Financing An Article by Michael L. Messer and Thomas L. Hofstetter SCHENCK, PRICE, SMITH & KING, LLP Even in these challenging economic times, businesses still have a need to grow and to obtain

More information

U.S. SMALL BUSINESS ADMINISTRATION. Craig Jordan. Lead Lender Relations Specialist

U.S. SMALL BUSINESS ADMINISTRATION. Craig Jordan. Lead Lender Relations Specialist U.S. SMALL BUSINESS ADMINISTRATION Craig Jordan Lead Lender Relations Specialist James Pipper International Trade Officer GUARANTEED LENDING PROGRAMS UPDATE U.S. Government Export Financing Programs How

More information

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.

Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio. Minority Business Development Division Allen McConnell, Manger (614) 752-4833 Allen.McConnell@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider

More information

BUSINESS DEVELOPMENT FUND OF TEXAS CDC DISCLOSURE STATEMENT REGARDING SBA 504 LOAN CHARGES & REQUIREMENTS SBA SECTION 504 ASSISTANCE AGREEMENT

BUSINESS DEVELOPMENT FUND OF TEXAS CDC DISCLOSURE STATEMENT REGARDING SBA 504 LOAN CHARGES & REQUIREMENTS SBA SECTION 504 ASSISTANCE AGREEMENT BUSINESS DEVELOPMENT FUND OF TEXAS CDC DISCLOSURE STATEMENT REGARDING SBA 504 LOAN CHARGES & REQUIREMENTS SBA SECTION 504 ASSISTANCE AGREEMENT The following disclosures apply to the United States Small

More information

SBA Policy Notice. TO: All SBA Employees CONTROL NO.: 5000-1382. SUBJECT: Reauthorization of 504 Debt EFFECTIVE: 05/26/2016. Refinancing Program

SBA Policy Notice. TO: All SBA Employees CONTROL NO.: 5000-1382. SUBJECT: Reauthorization of 504 Debt EFFECTIVE: 05/26/2016. Refinancing Program SBA Policy Notice TO: All SBA Employees CONTROL NO.: 5000-1382 SUBJECT: Reauthorization of 504 Debt Refinancing Program EFFECTIVE: 05/26/2016 The Small Business Jobs Act of 2010 (Jobs Act), P.L. 111-240,

More information

HOW TO LAND AN SBA Loan

HOW TO LAND AN SBA Loan HOW TO LAND AN SBA Loan by Ron Box, CPA/CITP/CFF With all of the uncertainty around maintaining a predictable flow of capital to businesses, a commercial loan provided by a bank but guaranteed by the federal

More information

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION

MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MILWAUKEE DOWNTOWN, BUSINESS IMPROVEMENT DISTRICT #21 BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION Created in proud partnership with BUSINESS DEVELOPMENT LOAN POOL (BDLP) Milwaukee Downtown,

More information

CDA BLF LOAN APPLICATION

CDA BLF LOAN APPLICATION CDA BLF LOAN APPLICATION Name of of Business (Legal Name): Address: City, State, Zip: Business Phone // Fax: Federal Tax ID#: Principals Principal 1 Principal 2 Name: Address: City, State, Zip: Phone:

More information

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS

ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS 7605B/7601 ALTERNATIVE FINANCING SOURCES FOR YOUR SMALL BUSINESS Revised October 1999 University of Wisconsin System This publication has been developed by the Wisconsin SBDC in partnership with the U.

More information

SBA 7(a) Government. Guaranteed Loan Program

SBA 7(a) Government. Guaranteed Loan Program SBA 7(a) Government Guaranteed Loan Program SBA Overview The U.S. Small Business Administration (SBA) Was Created By Congress In 1953 To Assist And Counsel Small Business Growth And Prosperity, Thereby

More information

Small Business Administration

Small Business Administration Financing the SBA Way Wayne Bell District Director Wichita District Office June 6, 2012 1 Agency History SBA What it is Federal Agency Created in 1953 Purpose To help potential and current small business

More information

First Industries Fund

First Industries Fund First Industries Fund First Industries is one of 19 programs in the June 2004 economic stimulus package. It provides $100 million for agriculture, and $50 million for tourism. Final guidelines were approved

More information

CONVENTIONAL / SBA LOAN APPLICATION BUSINESS LOAN APPLICATION CHECKLIST

CONVENTIONAL / SBA LOAN APPLICATION BUSINESS LOAN APPLICATION CHECKLIST CONVENTIONAL / SBA LOAN APPLICATION BUSINESS LOAN APPLICATION CHECKLIST Please use this checklist as a guide to the documentation necessary to complete the processing of your business loan. If certain

More information

2012 Economic Development Finance Service Conference Federal Program Update SBA

2012 Economic Development Finance Service Conference Federal Program Update SBA 2012 Economic Development Finance Service Conference Federal Program Update SBA April 26, 2012 10:30-12:00pm SBA Programs Microloan Program Community Advantage Intermediary Lending Pilot Program 7(a) 504

More information

Screening Guideline for SBA-Guaranteed Acquisition Financing

Screening Guideline for SBA-Guaranteed Acquisition Financing Robert A. Heffner, President Rocky Mountain Capital LLC www.rockymountaincapital.com 269 West Front Street, Suite E Missoula, MT 59802 T 406 251 5861 F 888 251 8191 E rheffner@rockymountaincapital.com

More information

SBA 101 - Introduction to SBA Lending. WPASGL 2013 Quality Circle April 11, 2013

SBA 101 - Introduction to SBA Lending. WPASGL 2013 Quality Circle April 11, 2013 SBA 101 - Introduction to SBA Lending WPASGL 2013 Quality Circle April 11, 2013 PURPOSE OF SBA FINANCIAL ASSISTANCE The purpose of SBA financial assistance is not to encourage banks to make bad loans.

More information

How To Help A Small Business Fund Fund

How To Help A Small Business Fund Fund LISC Small Business Lending Update PRESENTED BY: Kevin Boes New Markets Support Company Kelsey Hamory New Markets Support Company Small Business Lending Products LISC/NMSC have developed a toolkit of products

More information

Project Financing Tools

Project Financing Tools OVERVIEW The City of Ramsey has a number of financial tools available for economic development projects. In general, tools include gap financing loans, SBA loans/loan guarantees and project based local

More information

How To Get A Loan From The Savings Account Of The Savings And Loan Program

How To Get A Loan From The Savings Account Of The Savings And Loan Program R a i sing C a pital: H ow To Get M o n e y F o r a Small B u s i n e ss In addition to drive, ambition and a great deal of planning, starting and expanding a small business generally requires capital.

More information

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #:

LOAN APPLICATION. Name of Business (Legal Name): Address: City, State, Zip: Business Phone: Federal Tax ID #: LOAN APPLICATION Name of Business (Legal Name): Business Phone: Federal Tax ID #: Fax: Principals Name: Phone: Social Security #: Type of Business Sole Proprietorship Corporation Partnership Date Established

More information

How To Get A Loan From The Small Business Administration

How To Get A Loan From The Small Business Administration U.S. Small Business Administration Programs & Services Frank Alvarado, Sr. Area Manager Tanisha Velasquez, LRS/AO SBA Connecticut District Office The SBA Mission Economic Development Maintenance of a Strong

More information

SBA 504 Loans An Important Economic Development Tool for Community Lenders

SBA 504 Loans An Important Economic Development Tool for Community Lenders SBA 504 Loans An Important Economic Development Tool for Community Lenders A vital source of financing for your business customers. 2010 NADCO Presenters today Mindy Murray RMI, Jefferson City, MO Mike

More information

The Florist Credit Union:

The Florist Credit Union: The Florist Federal Credit Union BUSINESS LOAN APPLICATION I. GENERAL INFORMATION Applicants Name / Borrower (individual business owner or business name): Tax ID Number: Mailing Address: Contact Person:

More information

BUSINESS LOAN APPLICATION

BUSINESS LOAN APPLICATION BUSINESS LOAN APPLICATION This checklist will aid you in gathering the necessary information for the initial evaluation of your loan request. In order to process your application, we will need complete

More information

SBA Programs & Services

SBA Programs & Services Helping you start, grow and succeed. SBA Programs & Services 2012 Government Small Business Conference South Florida District Office Overview Covers 24 counties from Monroe to Osceola District Office located

More information

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS

SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS SMALL BUSINESS LENDING OPPORTUNITIES FOR CREDIT UNIONS February 14, 2012 Terrence K. McHugh President Commercial Alliance 1 Business Lending in Credit Unions 1998 regulation limits business lending in

More information

www.development.ohio.gov

www.development.ohio.gov Minority Business Development Division Joseph Brooks (614) 466-5065 joseph.brooks@development.ohio.gov www.development.ohio.gov The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services

More information

How To Finance A Business With An Sba 7(A) Loan

How To Finance A Business With An Sba 7(A) Loan Small Business Programs and Resources Start-Up Business Weak Collateral Longer Repayment Terms Unfamiliar Industry Achieve community economic development through job creation and retention by providing

More information

SBA Programs to Help You Start & Grow Your Small Business

SBA Programs to Help You Start & Grow Your Small Business SBA Programs to Help You Start & Grow Your Small Business U.S. Small Business Administration 6501 Sylvan Road, Suite 100 Citrus Heights, CA 95610 916-735-1700 www.sba.gov 08?11 BUSINESS LOANS & THE SBA

More information

ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT

ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT ECONOMIC DEVELOPMENT CORPORATION OF THE CITY OF FLINT Dear Applicant: Thank you for your interest in the Economic Development Corporation of the City of Flint loan program. Enclosed are the Commercial

More information

LiftFund (CDC) 504 Checklist and Loan Application

LiftFund (CDC) 504 Checklist and Loan Application 1. 2. LiftFund (CDC) 504 Checklist and Loan Application Copy of photo ID (Driver license) History of the Business. (Business Plan for start-ups.) Equal Opportunity Lender 3. Current personal financial

More information

The SBA 504 Loan Program. Financing the Owner Occupied Property

The SBA 504 Loan Program. Financing the Owner Occupied Property The SBA 504 Loan Program Financing the Owner Occupied Property SBA 504 Overview PURPOSE: provide FIXED RATE, long-term, below- market,, subordinated financing to owner- occupied small businesses promote

More information

State Small Business Credit Initiative

State Small Business Credit Initiative State Small Business Credit Initiative Collateral Enhancement Program Ohio Capital Access Program Targeted Investment Program The State of Ohio is an Equal Opportunity Employer and Provider of ADA Services.

More information

SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury

SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM. May 17, 2011 State Small Business Credit Initiative (SSBCI) U.S. Department of the Treasury SSBCI PROGRAM PROFILE: COLLATERAL SUPPORT PROGRAM May 17, 2011 (SSBCI) U.S. Department of the Treasury What is a Collateral Support Program? A Collateral Support Program is designed to enable financing

More information

SBA Loan Checklist. Ownership Information. Site Information. Business Information

SBA Loan Checklist. Ownership Information. Site Information. Business Information SBA Loan Checklist Ownership Information Completed Credit Application Completed Personal Financial Statement (for each owner) 3 Years Personal Federal Tax Returns (for each owner) Management Profile (form

More information

USDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113

USDA IRP LOAN FUND PROSPERA BUSINESS NETWORK 2015 CHARLOTTE STREET, SUITE 1 BOZEMAN, MT 59718 406.587.3113 USDA IRP LOAN FUND Prospera s Intermediary Relending Program Revolving Loan Fund ( IRP Loan Fund ) provides financing to businesses located in Gallatin County and Park County. Prospera s IRP Loan Fund

More information

Utah Center for Neighborhood Stabilization Introduces

Utah Center for Neighborhood Stabilization Introduces A summary for Utah financial institutions Utah Center for Neighborhood Stabilization Introduces Utah Small Business Growth Initiative In addition to the Utah Center for Affordable Housing s (UCAH) efforts

More information

SBA Guaranty Loan Options for Small Businesses

SBA Guaranty Loan Options for Small Businesses SBA Guaranty Loan Options for Small Businesses W. Lewis Burger Lender Relations Specialist Georgia District Office Atlanta, GA (404) 331-0100 Ext 304 W.Burger@SBA.gov SBA Loan Guaranties- Understanding

More information

APPLICATION FOR FINANCIAL ASSISTANCE Phone: 513.631.8292 Fax: 513.631.1192 1776 Mentor Ave. Suite 100 Cincinnati, OH 45212 www.hcdc.

APPLICATION FOR FINANCIAL ASSISTANCE Phone: 513.631.8292 Fax: 513.631.1192 1776 Mentor Ave. Suite 100 Cincinnati, OH 45212 www.hcdc. APPLICATION FOR FINANCIAL ASSISTANCE Phone: 513.631.8292 Fax: 513.631.1192 1776 Mentor Ave. Suite 100 Cincinnati, OH 45212 www.hcdc.com COMPANY INFORMATION: (This is information about your operating business.)

More information

ILLINOIS BUSINESS FINANCING MATRIX

ILLINOIS BUSINESS FINANCING MATRIX A Guide of Federal, State and Regional Loan Incentive and Grant s for Business and Economic TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction of

More information

SBA and USDA Lending 1/28/2014. Benefits of SBA Financing. Small Business Administration and United State Department of Agriculture

SBA and USDA Lending 1/28/2014. Benefits of SBA Financing. Small Business Administration and United State Department of Agriculture SBA and USDA Lending Small Business Administration and United State Department of Agriculture Work in Partnership with Banks Encourage Banks to Lend to Businesses by Guaranteeing loans to reduce Lender

More information

U.S. Small Business Administration Programs & Services. The State of Rural Small Business: Tools of the Trade

U.S. Small Business Administration Programs & Services. The State of Rural Small Business: Tools of the Trade U.S. Small Business Administration Programs & Services The State of Rural Small Business: Tools of the Trade When Do I Think - SBA? Think SBA When: Collateral is insufficient Business is a Start Up New

More information

U.S. Small Business Administration

U.S. Small Business Administration Financing Small Businesses 1 of 16 What is SBA s Mission? The (SBA) is an independent agency of the federal government established in 1953 to help start, build and grow small businesses in the United States.

More information

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA

THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA THE CITY OF AUSTIN SECTION 108 FAMILY BUSINESS LOAN PROGRAM CRITERIA A Program Financed Under the U.S. Department of Housing & Urban Development Section 108 Loan Program in Association with the U.S Small

More information

Emerald Financial Commercial Funding COMMERCIAL LOAN APPLICATION

Emerald Financial Commercial Funding COMMERCIAL LOAN APPLICATION Emerald Financial Commercial Funding COMMERCIAL LOAN APPLICATION This checklist if provided to assist in gathering the necessary information needed for the initial evaluation of your loan request. Complete

More information

Idaho Collateral Support Program. Participation Guide. Table of Contents V3 05-10-13

Idaho Collateral Support Program. Participation Guide. Table of Contents V3 05-10-13 Idaho Collateral Support Program Participation Guide Table of Contents V3 05-10-13 Table of Contents Summary Section 1: Eligibility Requirements a) Participating Lenders b) Borrowers c) Loans Section 2:

More information

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC

Fund for Economic Development. Program Criteria. K:\WORD\FORMS\Loan Application\CRITERIA02.DOC Fund for Economic Development Program Criteria K:\WORD\FORMS\Loan Application\CRITERIA02.DOC VINELAND s URBAN ENTERPRISE ZONE LOAN PROGRAMS I. Introduction The Vineland Urban Enterprise Zone ( UEZ ) was

More information

CHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application

CHEROKEE COUNTY. Entrepreneurship (E-) Community Loan Application CHEROKEE COUNTY Entrepreneurship (E-) Community Loan Application January 2015 Cherokee County E-Community Program A partnership project of Cherokee County Economic Development Corporation 104 S. Kansas

More information

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises

Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Understanding Loans and Other Programs Available for Certified Minority Business Enterprises Presented by Allen McConnell, Manager Minority Business Development Division Slide 1 Access to Financial Assistance

More information

Business Loan Application

Business Loan Application Business Loan Application To be completed by Borrower(s) Select all that apply. Purpose The following information is needed to better understand the lending needs for your business. Purchase Equipment

More information

TIME TO BUY. Small businesses that have ridden out the economic storm may. be well positioned to take advantage of a buyer s market for

TIME TO BUY. Small businesses that have ridden out the economic storm may. be well positioned to take advantage of a buyer s market for October 2011 TIME TO BUY Your business is growing and you re tired of renting space. Here are the financing options you can consider for purchasing commercial property. Table of Contents Benefits of Ownership...2

More information

SBA Loan Checklist. Ownership Information. Site Information (For Real Estate Transactions Only) Business Information

SBA Loan Checklist. Ownership Information. Site Information (For Real Estate Transactions Only) Business Information SBA Loan Checklist Ownership Information Completed Credit Application Completed Personal Financial Statement (for each owner) Summary of Project Cost (form attached) 3 Years Personal Federal Tax Returns

More information

INNOVATION FUND Loan Application

INNOVATION FUND Loan Application INNOVATION FUND Loan Application Department of Development 500 E. Main Street, Suite 1500, Norfolk, VA 23510 Phone: (757-664-4338 Fax: 757-441-2910 CREDIT REQUEST Amount Requested: Term Requested (# months):

More information

WONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC. Commercial Loan Application. Need Help! Please call 213-618-6611 Ask for JC

WONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC. Commercial Loan Application. Need Help! Please call 213-618-6611 Ask for JC WONG GLOBEWIDE PROPERTY INVESTMENTS CORPORATION WGPIC Commercial Loan Application Need Help! Please call 213-618-6611 Ask for JC Or Efax 866-612-9898 Or Email: Info@WGPIC.com (please answer all questionnaires

More information

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst

OLR RESEARCH REPORT ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS. By: Michelle Kirby, Associate Analyst OLR RESEARCH REPORT February 19, 2013 2013-R-0054 ANALYSIS OF STATE SMALL BUSINESS LOAN GUARANTEE PROGRAMS By: Michelle Kirby, Associate Analyst You asked for an analysis of state small business loan guarantee

More information

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14

CITY OF NEWARK SECTION 108 LOAN PROGRAM. DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 CITY OF NEWARK SECTION 108 LOAN PROGRAM DRAFT PROGRAM GUIDELINES As approved on 7/28/13 by HUD and written on 9/15/14 A Program Financed Under the U.S. Department of Housing & Urban Development Section

More information

Overview of SBA Loan Programs

Overview of SBA Loan Programs Overview of SBA Loan Programs U.S. Small Business Administration San Francisco District Office 455 Market Street, Suite 600 San Francisco, CA 94105 (415)744-6820 SBA Loan Programs The Big 3 SBA Microloan

More information

Pennsylvania Minority Business Development Authority Loan

Pennsylvania Minority Business Development Authority Loan Pennsylvania Minority Business Development Authority Loan Program Guidelines November 2015 Commonwealth of Pennsylvania Tom Wolf, Governor Department of Community & Economic Development Table of Contents

More information

SBA Loan Programs. Presenter: Bridget Bean. January 19, 2012

SBA Loan Programs. Presenter: Bridget Bean. January 19, 2012 SBA Loan Programs Presenter: Bridget Bean January 19, 2012 1 PRESENTER In April of 2009, Bridget Bean was named District Director of the Washington Metropolitan District Office for the U.S. Small Business

More information

Introduction to Small Business Administration Lending

Introduction to Small Business Administration Lending Introduction to Small Business Administration Lending University of Georgia School of Banking Jeff K. Roach, Small Business Resource Associates jkroach@smallbizres.com 770-894-1679 www.smallbizres.com

More information

Credit Enhancement Fund

Credit Enhancement Fund OREGON Credit Enhancement Fund Program description Business Oregon s Credit Enhancement Fund is designed to help businesses that are having difficulty accessing conventional financing. The Credit Enhancement

More information

Making QLICIs under $5 Million work LISC small business loan fund. January 2012

Making QLICIs under $5 Million work LISC small business loan fund. January 2012 Making QLICIs under $5 Million work LISC small business loan fund January 2012 LISC/Morgan Stanley Small Business Loan Fund The goal of the fund is to provide low-cost, long-term financing to small businesses

More information

How To Get A Farm Loan In Illinois

How To Get A Farm Loan In Illinois A Guide for Federal, State and Regional Loan Incentive and Grant s for Business and Economic PROGRAM TERM RATE FEES 7(a) Loan Guaranty The s primary loan program Business start ups or expansion; construction

More information

ACCESS TO CAPITAL FOR SMALL BUSINESSES

ACCESS TO CAPITAL FOR SMALL BUSINESSES ACCESS TO CAPITAL FOR SMALL BUSINESSES Annie Hudspeth annie.hudspeth@sba.gov 210.403.5918 Lionel Davila lionel.davila@sba.gov 210.403.5917 Lender Relations Specialists Mission Established on July 30, 1953

More information

Loan Application. Company name. Address City State Zip ( ) ( ) Principal in charge Work phone Work fax

Loan Application. Company name. Address City State Zip ( ) ( ) Principal in charge Work phone Work fax Loan Application California 800.611.5170 Arizona 800.817.4505 Riverside County 800.337.6003 Imperiounty 7 Company Information Web Site: www.cdcloans.com Company name Address City State Zip ( ) ( ) Principal

More information

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN

BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDPL) GUIDELINES & APPLICATION MENOMONEE FALLS, WISCONSIN BUSINESS DEVELOPMENT LOAN POOL (BDLP) VILLAGE OF MENOMONEE FALLS, WISCONSIN PARTICIPATING PARTNERS Participating

More information

SBA Programs to Help You Start & Grow Your Small Business

SBA Programs to Help You Start & Grow Your Small Business SBA Programs to Help You Start & Grow Your Small Business Don Spry Senior Area Manager U.S. Small Business Administration 419 North 3 rd Street Wilmington, NC 28410 don.spry@sba.gov 910-815-3188 (office)

More information

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518

TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 TOWN OF HAMDEN, CONNECTICUT Economic & Community Development Department 2750 Dixwell Avenue Hamden, Connecticut 06518 Dale Kroop, Director TO ALL INTERESTED LOAN APPLICANTS NOTICE OF AVAILABLE FUNDS SMALL

More information

SBA L SBA endi ding Program Overview

SBA L SBA endi ding Program Overview SBA Lending Program Overview SBA Loans The U.S. Small Business Administration (SBA) offers numerous loan programs to assist small businesses. The SBA is primarily a guarantor of loans made by banks and

More information

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION

SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION SMALL BUSINESS REVOLVING LOAN FUND GUIDELINES 1.0 INTRODUCTION Fay-Penn Economic Development Council has established a Small Business Loan Fund. The Small Business Loan Fund Program is designed to stimulate

More information

SBA 504 Expanded Refinancing Eligibility

SBA 504 Expanded Refinancing Eligibility SBA 504 Expanded Refinancing Eligibility When is a commercial mortgage considered eligible for refinancing under the new rules? 1. The loan must have funded at least 2 years ago 2. 85% of the loan proceeds

More information