In celebration of National Small Business Week (May 12-16), entrepreneurs can take advantage of special SBA financing programs offered by CDC Small Business Finance to buy their own building, expand their company and create jobs.
SBA Green Loan – this financing program provides higher lending amounts for small business owners who want to buy or upgrade commercial/industrial buildings and make them more energy efficient. Buildings over $20 million can be financed using this unique program offered jointly by a bank and CDC Small Business Finance. Small business owners need only demonstrate a projected 10% reduction in energy costs by deploying one or more energy-saving improvements (e.g. insulation, lighting, heating/air conditioning).
VetLoan Advantage Loan – military veterans who own small businesses can save up to $3,000 with this program. Incentives apply to several types of loans:
- SBA-504 loans are used to purchase commercial/industrial buildings. Vets can take advantage of a low-down payment (typically 10%), long-term fixed rates (now 5.07%). CDC will issue a cash rebate up to $3,000 for any funded loan to help veteran owners offset loan expenses.
- Community Advantage loans provide up to $250,000 for working capital, equipment, inventory, tenant improvements and business acquisition. CDC will waive the packaging fee for veterans, a savings of up to $2,500.
- SBA Microloans provide up to $50,000 for working capital, equipment, inventory, tenant improvements and business acquisition. CDC will waive the 2% loan fee for veterans, a savings of up to $1,000.
Small business owners can find out if they qualify for a loan by using the company’s Prequalify Today tool. For more information call 800.611.5170.