Micro Loan

DESCRIPTION
Credit and technical assistance to new or expanding small enterprises.

USE OF FUNDS
Inventory, accounts receivable, machinery and equipment leasehold improvements, and working capital.

QUALIFICATION
The Micro loan Program lends to owners of new or expanding small and micro enterprises to finance business start-up and expansion.

MINIMUM & MAXIMUM AMOUNTS
$5,000 to $50,000.

Subject to change by SBA.

MATURITY 
Loan terms are from one to six years.

INTEREST RATE
Rate tied to prime based on credit evaluation.

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

FEES
Up to 3.00% of loan amount plus $250 documentation fee

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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