Small Business Tools

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Wherever you are in business,
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the next level of success.

Loan Programs

SBA-7(a) Loan

The SBA 7(a) program is offered by most banks in Southern California. The SBA guarantees a certain percentage of the loan, reducing the risk to the bank. Despite the SBA guarantee, the bank seeks to make strong loans with a high certainty of repayment by the borrower.

CDC Small Business Finance assembles 7(a) loan packages and shops the loan to find a lender willing to fund the project. Because of CDC’s close work with many financial institutions, we are familiar with the funding inclination of the different banks in terms of start-ups, smaller loans and industries. As a result, CDC can efficiently pinpoint a lender most likely to fund a particular loan, which saves the borrower significant time.

Eligibility

For existing businesses:

Historical cash flow sufficient to service requested debt or cash flow ability based on reasonable projections.
Reasonable personal credit of principal borrowers.
Secondary source of repayment- either collateral equal to loan amount or co-signer with reasonable credit and income to repay loan
Historical earnings sufficient to cover personal living expenses

For start-up businesses (established for less than 2 years):

Management experience in industry (2 years minimum)
Capital injection (30% of total project)
Acceptable business plan, projections and assumptions upon which projections are based.

Terms and Conditions

Maximum loan amount – $2,000,000
Terms – 7 to 10 years
Interest rate – prime + 2.25% to 2.75% (variable)

For assistance, contact:

Susan Lamping
Community Loan Program Coordinator
(619) 243-8639
slamping@cdcloans.com