It is a government guaranteed program. Small Business Administration offers many loan programs that can assist in a variety of business needs. There are many different types of costs and requirements when opening a business, expanding a business or just trying to keep a business running smoothly. SBA can assist businesses with an array of different loan options. The 7(a) loan proceeds may be used for a variety of business needs including the acquisition, expansion or operation of an existing business or to establish a new business. There are three specific types of 7(a) loan programs. Within this program the borrow will pay an additional 5% if the loan is for a start- up, as well as 5% if the the loan is for a specialty purpose. This loan program is currently unavailable due to lack of appropriations. This program is designed specifically to help exporters expand or develop their businesses. Loan funds can be used to enhance a company. Any business that can demostrate that loan funds will aid in export activity and has been in operation for at least twelve months is eligible for the Export Loan Program. It is meant to promote economic development for small communities especially those with challenges like high unemployment and economic dislocation. These loans can be used for needs such as inventory and supplies, machinery and equipment, furniture and fixtures and for working capital. Each lender is required to provide businesses with technical assistance and training to borrowers. Borrowers may be required to undergo specific training or planning requirements before being approved for microloan financing. The average microloan is 1. It can not be used for existing debt or real estate. This loan program provides small businesses with long term fixed rate financing to acquire fixed assets for modernization and expansion. Certified Development Companies (CDC) CDCs are nonprofit corporations that promote economic development within communities. CDC at a fixed rate, slightly above prime). An SBA 504 loan is a 10. SBA loans are offered by participating. The CDC 504 Loan Program. The CDC 504 loan program is designed to provide financing for major fixed assets like equipment. The SBA 504 Loan program is a powerful economic development loan program that offers small businesses. Program Description The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses. SBA Business Loan Programs. The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another. Home > Financing > SBA 504 Loans CDC/504 Loans. The CDC/504 loan program is a long-term financing tool for economic development within a community.
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