Lending Overview Workshop for Small Businesses With some Discussion Regarding PPP Direct Forgiveness and Contracting
There will be two Lending Overview Sessions covering the same info:
Session 1: Online Session on April 11th from 10am - 12pm
Session 2: In Person Session on April 25th from 10am -12pm
This is a WEBINAR - SBA Lending Overview Workshop for Small Businesses with some discussion about PPP Direct Forgiveness and Contracting
Sessions:
- PPP Direct Forgiveness
- Contracting
- What Lenders look for in Underwriting a loan
- Overview of SBA Loan Programs:
- 7a Loan Program - PRIMARY LOAN PROGRAM
- 7a Small Loan
- Community Advantage Small Business Lending
- SBA Express Loan Program
- 504 Loan Program - PRIMARY LOAN PROGRAM
- Microloan Program
- Very Brief Discussion on Doing Business with the Federal Government (Contracting)
What is the 7a Loan Program?
- 7a Standard - loans from $500,000 - $5,000,000
- 7a Small Loans - loans up to $500,000 - Loans are Credit Scored
- Community Advantage Loans - Up to $350,000 For Underserved Markets
The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements such as:
- Short- and long-term working capital
- Refinance current business debt
- Purchase real estate, furniture, fixtures, and supplies
The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.
What is the 504-loan program?
The CDC/504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation.
504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.
The maximum loan amount for a 504 loan is $5 million. For certain energy projects, the borrower can receive a 504 loan for up to $5.5 million per project, for up to three projects not to exceed $16.5 million total.
