The SBA – CA Loan can be used for purchasing, renovating, and expanding owner-occupied commercial real estate. It can also be used as working capital, equipment purchases, debt refinance, and business acquisition. Fill out the form to begin the process.
Loan Size
• $100,000 to $350,000
Years in Business
• Start-up Business allowed
Loan Terms
• Depending of the use of Funds
Amortization
• Fully Amortized
Interest Rate
• Fixed/variable rate
• If variable based on WSJ Prime + 4%
Collateral
• Security interest in business assets
• Equipment
• Real Estate
• Vehicles
• Other Personal Property
Minimum Injection
• 10 to 20 percent
Loan Fees
• Credit Report Fee
• Application Fee
• Third Party Fees (i.e. Appraisal, Title, Legal, Filing, etc.)
• Origination Fee
• Loan Processing Fee
Guarantee
• Unlimited personal guaranty of principal owners of 20% or more ownership
• Unlimited guaranty of an affiliate business
Eligible Uses
• Inventory or supplies
• Furniture or fixtures
• Machinery or equipment
• Real estate
• Acquisition
• Refinance
• Business Acquisition
• Business Debt Refinance (most show 10% savings)
Ineligible Uses
• To pay existing debts
• Delinquent taxes
• Down payments
Community Impact Requirements
• Create or retain Jobs
Terms & Conditions
• No Pre-Payment Fee
• Debt Service Coverage (minimum 1 to 1)
*Information is subject to change without notice. All terms and conditions are finalized at approval.
($100,000-$350,000)
Are you a startup business or happen to be in an industry that traditional financing entities deem as risky? Have you tried to sort through confusing terms and high-interest rates all on your own? Then you are in the right spot. At Prestamos, we are able to provide the support you need to help get you the right financing for your business. One way we do that is by offering SBA Community Advantage loans.
What is an SBA Community Advantage Loan?
It is a small business term loan up to $350,000. This loan has up to 85% guarantee from SBA. Because of this, they are affordable loans with relatively competitive market interest rates.
The U.S. Small Business Administration (SBA) introduced the Community Advantage (CA) loan program to start-up and well established small businesses in underserved markets to manage credit, growth, and job development through capital funding and technical assistance (business consulting) support.
The SBA – CA Loan can be used for purchasing renovating, expanding commercial real estate which is owner-occupied. It can also be used as working capital, equipment purchases, debt refinance, and business acquisition.
Typically the loans can have up to a 10-year term, however, the length of time often depends on the intended use of the loan and the useful life span of the assets being financed.
Which businesses qualify?
Businesses must be operating as a legally registered for-profit company in the United States and have sufficient means of repaying the loan. There are SBA size standards and the need for illustrating the need of the financing that must be met prior to loan approval.
With the SBA Community Advantage (CA) program, both startup businesses and established businesses that are unable to qualify for other funding are eligible. However, there are a few industries that are not eligible for loans. Examples of these industries are political activities, religious organizations, and adult entertainment businesses. The SBA’s website has a full list of industries that are ineligible.
To quality, a business must be able to collateralize the loan to the greatest extend as possible to cover the loan amount. If a business is unable to do so, the owner’s personal assets may be used as collateral.
SBA Loans Aren’t Your Only Option
While the SBA Community Advantage (CA) loans are a great resource, not all businesses can meet the qualifications or get approved. Or, the amount of funding approved may not be sufficient for the needs of the business. In this case, there are other financing options and business development strategies available.
Prestamos has a dedicated team of experienced loan officers and business consultants who can not only guide you through the application process but also help you plan for growth and stability in your business. We have offices located in Arizona and Nevada and are expanding to other regions in the southwest.
If you have additional questions please contact us, or are ready to start an application for an SBA Community Advantage (CA) loan, please click on the “Apply Now” button.
Business Consulting Services
Are you seeking expert guidance in preparing a comprehensive loan package? Our consulting service offers unparalleled support for businesses. Gain access to a business advisor who will skillfully guide you through the loan application process. Don’t miss out on this opportunity to secure the funding you need. Contact us today!
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