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Financing
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Certified Development Companies
The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community or region. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. There are about 270 CDCs nationwide.
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CommunityExpress Lenders
SBA's CommunityExpress is a pilot loan program that was developed in collaboration with the National Community Reinvestment Coalition (NCRC) and its member organizations. Under the pilot, financial assistance is offered to pre-designated geographic areas serving mostly Low and Moderate Income areas and New Markets small businesses. The program also includes technical and management assistance, which is designed to help increase the loan applicant's chances of success.
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Microloan Participants
The MicroLoan Program was developed to increase the availability of very small loans to prospective small business borrowers. Under this program, the SBA makes funds available to nonprofit intermediaries, who in turn make loans to eligible borrowers in amounts that range from $2,000 to a maximum of $35,000.
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Preferred Lenders
The Preferred Lenders Program (PLP) is another step in SBA's process of "streamlining" the procedures necessary to provide financial assistance to the small business community. Under PLP, SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to these carefully selected lenders.
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SBAExpress Lenders
SBAExpress relies completely on the lender's credit analysis, forms and procedures to apply SBA guarantees to a loan without prior credit approval from SBA. In return for this flexibility, participating lenders agree to accept a maximum loan guarantee of 50%. The maximum loan amount is $350,000.
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