BANK FINANCING

 
BANK FINANCING

SMALL BUSINESS ADMINISTRATION (SBA)

 7(a) Loan Guaranty
 Specialized 7(a): LowDoc

COLORADO HOUSING AND FINANCE AUTHORITY (CHFA)

 Colorado Business & Industry Program
 Colorado Credit Reserve (CCR)  

 

 

SBA LOANS

7(a) Loan Guaranty

DESCRIPTION:       

The 7(a) Loan Guaranty Program is one of SBA's primary lending programs. It facilitates loans to small businesses unable to secure financing on reasonable terms through normal lending channels. The program operates through private-sector lenders that provide loans that are, in turn, guaranteed by the SBA -- the Agency has no funds for direct lending or grants.

ELIGIBILITY:

  • Must be a small business (contact SBA for exact guidelines)
  • Must operate for profit
  • Must be engaged in, or propose to do business in the United States
  • Have reasonable owner equity to invest
  • Use alternative financial resources first, including personal assets

PURPOSE:    

The proceeds of SBA loans can be used for most business purposes. These may include the purchase of real estate to house the business operations; construction, renovation or leasehold improvements; acquisition of furniture, fixtures, machinery, and equipment; purchase of inventory; and, working capital.

LOAN AMOUNT:    

Up to $1,000,000, with an SBA guarantee of a maximum of 75% or $750,000

CONTACT:               

Colorado District Office
Contact: Mr. Charles Brown
Phone: (303) 844-3461 ext. 222
Fax: (303) 844-6539