Bankers CDC Loan

This loan is funded by many local San Diego banks that pool their money, lend it to us and we relend it out to small businesses in underserved markets of California. These loans are designed for non-profit and for-profit businesses that do not qualify for SBA or traditional bank financing.  The Bankers CDC loans are available to businesses located in low-to-moderate-income areas or that employ low-to-moderate-income workers in California. If you are a business located in California please reach out to one of our loan experts so we can find a solution for your growing business needs.

 Watch this helpful video to learn more about this loan and what it takes to qualify:

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 + 4.75% (fixed)
For assistance and more information please feel free to call 800.611.5170 or contact a loan expert directly that is located in a California city nearest you.

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