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The CDC/504 loan program is a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.

The 7(a) Loan Program is the SBA’s primary program to help start-up and existing small businesses obtain financing when they might not be eligible for business loans through normal lending channels. The name comes from section 7(a) of the Small Business Act, which authorizes the SBA to provide business loans to American small businesses. The SBA itself does not make loans, but rather guarantees a portion of loans made and administered by commercial lending institutions.

Banks and other lending institutions offer a number of SBA guaranteed loan programs to assist small businesses. While SBA itself does not make loans, it does guarantee loans made to small businesses by private and other institutions.

Below is an overview of SBA’s guaranteed loan programs. For more information, click on the name of the program.

What is PRIME?

The SBA’s Program for Investment in Micro-Entrepreneurs (PRIME) provides assistance to various organizations. These organizations help low-income entrepreneurs who lack sufficient training and education to gain access to capital to establish and expand their small businesses.

Eligibility for PRIME Loans

Organizations eligible for PRIME grants include:

In the Small Business Act of July 30, 1953, Congress created the Small Business Administration, whose function is to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns." The charter also stipulates that SBA would ensure small businesses a "fair proportion" of government contracts and sales of surplus property. Read the Small Business Act in full.

A growing number of workers age 50-plus are turning interests, hobbies or skills into a small business.  Whether you are interested in starting a small business right away or are intending to wait until after retirement, now is the time to explore the possibilities. 

Whether your target market is global or just your neighborhood, the SBA and its Resource Partners can help at every stage of turning your entrepreneurial dream into a thriving business.

Summer of Encore Mentoring

Model Debenture SBIC, L.P. (Model Partnership Agreement)

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