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Loan Programs

Bankers CDC Loan Program

Funded by a multi-bank micro-loan consortium in San Diego, loans are designed for for-profit and non-profit businesses that do not qualify for SBA or conventional financing.  Loans are available to businesses located in low- to moderate-income areas or that employ low- to moderate-income workers in San Diego County. 

Eligibility

• Business must be located in a Low Mod Income (LMI) area.
• Management experience in industry (2 years minimum)
• Capital injection (30% of total project)
• Reasonable personal credit
• Secondary source of repayment- either collateral equal to loan amount or co-signer with reasonable credit and income to repay loan
• Acceptable business plan, projections and assumptions upon which projections are based.
• Historical cash flow sufficient to service requested debt or cash flow ability based on reasonable projections.
• Historical earnings sufficient to cover personal living expenses

Terms and Conditions

• Maximum loan amount – $200,000
• Terms – amortized over 10 years; due in five
• Interest rate – starting at Prime + 3% (fixed)

For assistance, contact:

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