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7(a) Loan Guaranty
Lenders, rather than SBA, approve and service the loans and request SBA guaranties. Loan proceeds may be used for business start-ups, expansion, equipment purchases, working capital, inventory or real estate acquisition. Generally, the SBA can guarantee up to $1,000,000. (more about 7(a) Loan Guaranty) Low Documentation Loan (LowDoc) Once you have met your lenders a requirement for credit, LowDoc offers a simple, one page SBA application form and rapid turnaround on approvals for loans of up to $150,000. The SBA will guarantee up to 80 percent of the loan amount. (more about LowDoc) Minority & Women Prequalification Loan This program enables the SBA to prequalify a loan for a minority or woman-owned small business. SBA prequalifies the loan guaranty before the business owner approaches a lender. Working through an intermediary, a review is developed using key financial ratios, credit history, business history and the proposed use of the proceeds. (more about the Minority Prequalification Loan) CAPLines CAPLines offer five types of loans to finance the short-term, cyclical working-capital needs of small businesses. Under this program, loan proceeds generally will be advanced against a borrower’s existing or anticipated inventory and/or accounts receivable. The five lines available under this program include Seasonal Line, Contract Line, Builders Line, Standard Asset-Based Line and Small-Asset Based Line. (more about CAPLines) The International Trade Loan Program This program helps small businesses that are engaged in international trade, preparing to engage in international trade, or adversely affected by competition from imports. The SBA can guarantee as much as $1.25 million in combined working capital and fixed-asset loans. (more about the International Trade Loan Program) SBA Express SBA Express makes it easier and faster for lenders to provide small business loans of $150,000 or less. Allows lenders to use their own forms and processes to approve loans guaranteed by the SBA. Provides a rapid response from SBA-within 36 hours of receiving the completed application. Lets lenders take advantage of electronic loan processing and provide smaller revolving loans. Provides minimal paperwork to SBA to obtain 50% guaranty. Export Working Capital Program (EWCP) The EWCP provides short-term financing to small business for export-related transactions. Typically, maturities match a single transaction cycle with a term of up to 18 months or support a line of credit with a term of up to 12 months. (more about EWCP) Defense Loan and Technical Assistance (DELTA)The DELTA Program provides both financial and technical assistance to help defense-dependent small firms adversely affected by defense cuts diversify into commercial markets. (more about DELTA) |
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