Your Local SBA
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Financing
Get Street Map & Driving Directions to Local SBA Financing Resources The Small Business Investment Company (SBIC) program. SBICs, licensed by the Small Business Administration, are privately organized and privately managed investment firms. They are participants in a vital partnership between government and the private sector economy. With their own capital and with funds borrowed at favorable rates through the Federal Government, SBICs provide venture capital to small independent businesses, both new and already established. 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 290 CDCs nationwide. Preferred lenders are chosen from among the SBA's best lenders and enjoy full delegation of lending authority. This lending authority must be renewed at least every two years, and the lender's portfolio is examined by the SBA periodically. Preferred loans account for more than 10 percent of SBA loans. 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 under $100 to a maximum of $35,000. The average loan size is $10,000. Completed applications can usually be processed by the intermediary in less than one week. SBA Express 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 $2,000,000.
SBIR/STTR Awards SBA's National HUBZone site for a description of the HUBZone Program, including how to find out if you are located in a HUBZone, and how to apply for HUBZone Certification. | ||