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Community Advantage Loans
Community Advantage (CA) is a pilot loan program introduced by the U.S. Small Business Administration (SBA) to meet the credit, management, and technical assistance needs of small businesses in underserved markets. CA provides mission-oriented lenders, primarily nonprofit financial intermediaries focused on economic development, access to 7(a) loan guaranties for loans of $250,000 or less. SBA’s goals for CA are to:
- Increase access to credit for small businesses located in underserved areas;
- Expand points of access to the SBA 7(a) loan program by allowing non-traditional, mission-oriented lenders to participate;
- Provide Management and Technical Assistance (M&TA) to small businesses as needed; and
- Manage portfolio risk.
To apply for a loan, contact Mountain West Small Business Finance at 801-474-3232. Website: https://mwsbf.com