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Max Gross,
Chapter 570 Chair
MEMBERS ONLY
Vet PROGRAMS
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CAPITAL SOURCES MENU
MINORITY PRE-QUALIFICATION PILOT LOAN PROGRAM
WHAT IT IS:
Provides minority assistance in qualifying by providing intermediaries
selected by SBA to help prepare and review business plan and
pre-qualification loan application. If qualified, SBA will authorize a loan
guarantee which is presented to a competitive lender with assistance by the
intermediary.
ELIGIBILITY:
At least 51% owned by racial/ethnic minority. Must meet 7(a) loan
eligibility and size criteria.
INTEREST RATE:
Same as 7(a) loans. Maturity also similar.
AMOUNT:
Generally the maximum loan is $155,000
CREDIT:
Willingness/ability to pay
debts. Good credit.
COLLATERAL:
Likelihood for success. Must pledge business/personal assets and personally
guarantee loan. Loan may not be denied if inadequate collateral is the only
negative.
FOR INFORMATION:
Contact CDC Small Business Finance Corp. 714-978-1182 or 909-352-5730
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