Community Advantage 7(A) Loan Program

GEOGRAPHICAL LOCATION
Available in California

DESCRIPTION
To help start-up and existing small businesses with financing for a variety of general business purposes.

USE OF FUNDS
Proceeds may be used to establish a new business or to assist in the operation, acquisition or expansion of an existing business.

QUALIFICATION
Based on specific aspects of the business and its principals; what the business does to receive its income, the character of its ownership and where the business operates.

MINIMUM & MAXIMUM AMOUNTS
A maximum of $250,000 and no set minimum.

MATURITY
Maximum loan maturities are 25 years for real estate and up to 10 years for equipment.

INTEREST RATE
Market rate as negotiated by lender and borrower but subject to SBA maximums.

COLLATERAL
Available business and personal assets, machinery and equipment, accounts receivable, inventory and real property.

FEES
Based on maturity and dollar amount guaranteed.

Pre-qualify here

Application

California Coastal Rural Development Corporation

221 Main St
Suite 301
Salinas, CA 93901
Phone: (831) 424-1099
Fax: (831) 424-1094
2625 S. Miller St
Suite 106
Santa Maria, CA 93455
Phone: (805) 349-0798
Fax: (805) 623-8396
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