LOAN REQUIREMENTS
REQUIREMENTS MICRO LOANS ($10,000-$50,000) SMALL BUSINESS LOANS ($50,000-$500,000) SBA - (CA) Community Advantage
Loan Size
  • Up to $25,000 for start ups
  • $10,000 to $50,000 for existing businesses
  • $50,000 to $500,000
  • $100,000 to $250,000
Years in Business
  • Start-up Business allowed
  • No non-profit eligible with exception of child care centers
  • Existing business operating for a minimum of 24 months
  • Start-up Business allowed
Loan Terms
  • Up to 5 years
  • Up to 7 years
  • Up to 10 years
Amortization
  • Up to 5 years
  • Up to 20 years dependent on risk and collateral
  • Interest only for 12 months
  • Up to 10 years
Interest Rate
  • Fixed
  • Fully amortized
  • Rates up to 7.9%
  • Fixed
  • Fully amortized
  • Rates up to 11%
  • 7.5% variable adjust quartly
Collateral
  • Security interest in business assets
  • Equipment
  • Real Estate
  • Vehicles
  • Other Personal Property
  • Advance Rates
  • Security interest in business assets
  • Equipment
  • Real Estate
  • Vehicles
  • Other Personal Property
  • Advance Rates
  • $150 < SBA gurantee 85%
  • $150 > SBA gurantee 75%
  • Security interest in business assets
  • Equipment
  • Real State
  • Vehicles
  • Advance Rates
  • Other personal Property
Loan Fees
  • Credit Report Fee = $20/partner
  • Application Fee = $35
  • Third Party Fees (i.e. Appraisal, Title, Legal, Filing, etc.)
  • Credit Report Fee = $20/partner
  • Application Fee:
    • Loans $50,000 - $150,000 – Fee $75     
    • Loans above $150,000 – Fee $150
  • Third Party Fees (i.e. Appraisal, Title, Legal, Filing, etc.)
  • Credit Report Fee = $20/partner
  • Application Fee:
    • $2,500
  • Third Party Fees (i.e. Appraisal, Title, Legal, Filing, etc.)
Guarantee
  • Unlimited personal guaranty of principal owners of 20% or more ownership
  • Unlimited guaranty of an affiliate business
  • Unlimited personal guaranty of principal owners of 20% or more ownership
  • Unlimited guaranty of an affiliate business
  • Unlimited personal guaranty of principal owners of 20% or more ownership
  • Unlimited guaranty of an affiliate business
Eligible Uses
  • Working capital
  • Inventory or supplies
  • Furniture or fixtures
  • Machinery or equipment
  • Start up cost
  • Acquisition
  • Refinance
  • Inventory or supplies
  • Furniture or fixtures
  • Machinery or equipment.
  • Real estate
  • Acquisition
  • Refinance
  • Inventory or supplies
  • Furniture or fixtures
  • Machinery or equipment.
  • Real estate
  • Acquisition
  • Refinance
Ineligible Uses
  • To pay existing debts
  • Personal expenses
  • Real estate
  • Delinquent taxes
  • Down payments
  • Personal expenses
  • Down payments
  • To pay existing debts
  • Personal expenses
  • Delinquent taxes
  • Down payments
Business Eligibility
  • Start up Businesses
  • Established Businesses
  • Established Businesses
  • Start up Businesses
  • Established Businesses
Community Impact Requirements
  • Retain or Create Jobs 
  • Retain or Create Jobs 
  • Retain or Create Jobs 
Terms & Conditions
  • Automatic Payment Required
  • No Pre-Payment Fee
  • Automatic Payment Required
  • No Pre-Payment Fee
  • Collateral Required
  • Automatic Payment Required
  • No Pre-Payment Fee
  • Collateral Required