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EMERGENCY RELIEF SMALL BUSINESS LOANS

NOTICE: Due to the nature of the emerging and rapidly evolving information from government and non-government relief programs, some requirements and offerings may change before they are listed on this website.  Please consult with your loan officer and your own professionals for the most current details.

 

On this page:

  • C-19 Emergency Relief Working Capital Loan
  • Paycheck Protection Program Loan
  • SBA Disaster Loan Program
  • The Small Business Owner’s Guide to the CARES Act 
  • Top Tips for Businesses Impacted by COVID-19
  • SBA Alert: Beware of Scams + Fraud

 

EMERGENCY RELIEF LOAN OPTIONS: 


 

C-19 EMERGENCY RELIEF WORKING CAPITAL LOAN
– up to $150,000 – for businesses in California. Arizona, Nevada, Washington DC, Detroit, Mi and Houston, TX

DELAY NOTICE: Approval, processing and funding of this loan is currently delayed.  At this time we have a company-wide focus on processing the Paycheck Protection Program (PPP) loans in our system. Due to this effort and the large volume of applications, our response time is currently delayed. We understand you are eager to get funding.  As soon as we meet the urgent needs of PPP loan fundings, we will get back to normal approval and processing timing on the C-19 Emergency Relief Working Capital loan.  We appreciate your patience.

 

You are welcome to submit an application at this time with the understanding that it will be in a delayed queue for review.

CLICK TO APPLY ONLINE: C-19 Emergency Relief Working Capital Loan

  • Ways to apply:
  • Who can Apply:
    • Businesses in California, Arizona, Nevada, Washington DC, Detroit MI and Houston, TX
    • For-profit small businesses whose operations, revenue and staffing have been disrupted due to COVID-19. 
    • Businesses impacted by COVID-19 that need funding for working capital and inventory 
    • Typically businesses with under 250 employees
    • Businesses that are temporarily closed due to COVID-19 related mandates and will re-open when the mandates are lifted are eligible
  • Easy to Apply — please provide the following:
    • A completed CDC Small Business Finance Disaster Loan application
    • December 31, 2019 financial statement
    • Last 3 months of business bank statements
    • Personal financial statements for anyone with 20% or more ownership (get a template in our resource center)
    • Three years of business and one year of personal tax returns
    • Current debt schedule (get a template in our resource center)
    • Signature on 4506T form
  • Timing:
    • Currently delayed due to company wide effort on the PPP loan. 
  • Loan Details:
    • Interest only for 6 months
    • Loan amount:  $20,000 – $150,000 o prior year revenues, whichever is less 
    • Credit Score minimum of 680
    • Variable Rate: Prime + 2.75 to 6%, based on applicant’s combined business and personal credit 
    • Term: 10 years fully amortized helps keep your payments low
    • Minimal fees financed through the loan
    • Personal guarantee required
    • No prepayment penalty

 

 


DISASTER LOANS THROUGH THE SBA –
These Loans Are NOT Available through CDC Small Business Finance

Please note: The SBA’s Disaster Loan division is completely separate from CDC Small Business Finance and unfortunately we cannot help you apply.


THE SMALL BUSINESS OWNER’S GUIDE TO THE CARES ACT

Download the U.S. Senate Committee on Small Business & Entrepreneurship’s Guide

Get all the details on:

  • Paycheck Protection Program Loan
  • Small Business Debt Relief Program
  • Economic Injury Disaster Loans
  • Emergency Economic Injury Grants
  • Small Business Counseling
  • Small Business Contracting
  • Small Business Tax Provisions

 

TOP TIPS FOR BUSINESSES IMPACTED BY COVID-19

 

SBA ALERT: BEWARE OF SCAMS + FRAUD

Click to read the SBA Alert: Beware of Scams + Fraud
As a small business owner, we know you need relief and you want it fast. We urge you to be diligent when getting an emergency loan. It’s critical to know how to not fall victim to scams and fraud.

 


ADDITIONAL CDC SMALL BUSINESS FINANCE LOAN OPTIONS:


It is possible that some of the information on this website, on linked pages and attachments (collectively, Information”) has been superseded, modified or is no longer accurate.  The Information does not constitute legal, tax, financial or advice of a professional nature; it is provided for informational purposes only.  You should consult your own professional advisors for any such advice.  Any action you take based upon the Information is strictly at your risk and based upon your decision and we will not be liable for any losses or damages in connection with the Information.

 

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