Small Business Week Brings Special Loan Programs, Incentives from CDC Small Business Finance

Business Wire

SAN DIEGO--(BUSINESS WIRE)--

In celebration of National Small Business Week (May 12-16), entrepreneurs can take advantage of special SBA financing programs offered by CDC Small Business Finance to buy their own building, expand their company and create jobs.

SBA Green Loan – this financing program provides higher lending amounts for small business owners who want to buy or upgrade commercial/industrial buildings and make them more energy efficient. Buildings over $20 million can be financed using this unique program offered jointly by a bank and CDC Small Business Finance. Small business owners need only demonstrate a projected 10% reduction in energy costs by deploying one or more energy-saving improvements (e.g. insulation, lighting, heating/air conditioning).

VetLoan Advantage Loan – military veterans who own small businesses can save up to $3,000 with this program. Incentives apply to several types of loans:

  • SBA-504 loans are used to purchase commercial/industrial buildings. Vets can take advantage of a low-down payment (typically 10%), long-term fixed rates (now 5.07%). CDC will issue a cash rebate up to $3,000 for any funded loan to help veteran owners offset loan expenses.
  • Community Advantage loans provide up to $250,000 for working capital, equipment, inventory, tenant improvements and business acquisition. CDC will waive the packaging fee for veterans, a savings of up to $2,500.
  • SBA Microloans provide up to $50,000 for working capital, equipment, inventory, tenant improvements and business acquisition. CDC will waive the 2% loan fee for veterans, a savings of up to $1,000.

“The doors are now wide open to small business owners who want to grow and expand their businesses,” said Kurt Chilcott, president/CEO of CDC Small Business Finance.

The SBA-504 loan program offers additional advantages, including:

  • Cash preservation
  • Tax savings
  • No balloon payments

To qualify for an SBA 504 loan, businesses must be:

  • Owner-operated
  • For profit
  • Organized as a sole proprietorship, corporation, partnership or LLC
  • Have a business net-worth below $15 million and a net-profit after taxes below $5 million within the last two operating years

Community Advantage is an excellent loan choice for new and existing businesses that need between $20,000 and $250,000 in business capital. The loan can be used to start or expand a business. The SBA guarantees a portion of each loan. This allows CDC to make loans that may not be available through banks. To be eligible, applicants need to show their ability to repay the full loan amount and meet other guidelines.

Small business owners can find out if they qualify for a loan by using the company’s Prequalify Today tool. For more information call 800.611.5170, visit www.cdcloans.com or check CDC on Twitter @CDC_Loans and LinkedIn. To see short videos of small businesses that have benefitted from SBA loans, go to: SBA Success Stories.

CDC Small Business Finance, a non-profit, is the nation’s leader in providing SBA-504 loans to small businesses, including those that have traditionally struggled getting access to capital. Over 30 percent of CDC’s loans go to women-, minority- and veteran-owned small businesses.

In 36 years, CDC has helped more than 10,000 entrepreneurs buy their own facilities, expand their businesses and create nearly 130,000 new jobs.

Note: Media interested in interviewing small business owners who have received SBA-504 loans to purchase a building can contact Larry Nuffer, 619.243.8620, lnuffer@cdcloans.com.

Contact:
CDC Small Business Finance
Larry Nuffer, 619-243-8620
lnuffer@cdcloans.com

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