Small Business Tools

Growth. Jobs. Prosperity.

Wherever you are in business,
our loans can help you achieve
the next level of success.

Loan Programs

SBA Micro Loan

Launched in 2001, this program offers loans up to $35,000 and includes post-loan technical assistance.

Eligibility

For businesses that have been established for at least 1 year:

Positive cash flow
Reasonable credit with acceptable explanation for any derogatory marks
Collateral equal to loan amount or co-signer with reasonable credit and income to repay loan
Minimum two years experience in industry

For start-up businesses:

Two years of experience in the industry
Capital injection of 25% of project
Reasonable credit
Secondary source of repayment- either collateral equal to loan amount or co-signer with reasonable credit and income to repay loan
Historical earnings sufficient to cover personal living expenses
Acceptable business plan with projections and assumptions upon which the projections are based

Terms and Conditions

Maximum loan amount – $35,000
Terms – 3 to 5 years
Interest rate – Prime + 3.5% (fixed)

Micro Loan Application & Checklist

Download (210k pdf)

Technical Assistance Requirement

As part of the Micro Loan Program, the SBA requires that the borrower receive some type of Technical Assistance (TA) or business counseling after the loan is funded. CDC offers six one-on-one business counseling sessions (one a month) by one of CDC’s approved business consultants to ensure that our borrowers have the skills they need to succeed in their business.

Susan Lamping
Community Loan Program Coordinator
(619) 243-8639
slamping@cdcloans.com