Small Business Administration (SBA) Loan from CIC

Small

Partners with a traditional lender (usually a bank) to put together a financing package of up to 90 percent of the cost of the expenditure.

Is this resource a good fit for you?

If you are looking for a loan program to fund a project that is under $13 million, with better terms than a traditional loan. Also available for veterans.

Description

CTCIC partners with a traditional lender (usually a bank) and will put together a financing package of up to 90 percent of the cost of the expenditure. The 10 percent borrower equity requirement is a full 10 to 20 percent lower than the equity required for a conventional loan.

 

Veterans are also able to access this fund through the VetLoan Advantage Program.

 

Services

  • Finances up to 40 percent of the total project. (Our lending partners finance up to 50 percent of the total project.)
  • Loan portion is fully amortized over an extended term (10 or 20 years) and has a below-market interest rate that is fixed for the entire term of the loan. No interest rate adjustments. No balloons.

Criteria

  • Must create or retain jobs or meet alternative economic or community development goals set forth by the SBA.
  • Loans capped at $5 million ($5.5 million for manufacturers), which means an SBA 504 loan can be a useful financing tool to fund projects up to $13 million and beyond.

Contact Info

Contact: Aya Beckles Swanson

Street: 2315 Whitney Avenue

City: Hamden

State: CT

Zip: 06518

Phone: 203-776-6172

Email: info@ciclending.com

Website: CICLending

Categories

Business Expertise Capital