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UCEDC Loan Programs Chart 2012 _4_

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UCEDC Loan Programs Chart 2012 _4_ Powered By Docstoc
					                                                                                 UCEDC
                                                                       SBA Guaranteed Loan Programs

                                                Maximum             Interest         Maturity         Profitable    Personal         Use of Proceeds       FICO         Eligibility      Percent of               Fees
                                                  Amt                 Rate                            Operating    Guarantees                              Score                         Guaranty
Risk Tiers                                                                                             History

Community Advantage 7 (a)
loans
Startups                                 $150,000                   Prime        Working Capital         n/a          yes       Expansion/renovations;     650 Business Plan          85% of            $1,500 - $2,500
Operational History:                                             plus 4.00%,     & machinery &                                  new construction,              maybe required.        guaranty for      packaging/
(0- 24 months)                                                                    equip (not to                                 purchase land or                                      loans of          processing fee.
                                                                  Adjustable      exceed life of                                buildings; equipment,              Nonprofits are not $150,000 or
                                                                   quarterly     equip) is 5 -10                                fixtures; lease-hold               eligible to apply. less;             (fee charged on
                                                                                   years; real                                  improvements; working                                                   guaranteed portion of
                                                                                   estate is 20                                 capital; refinance debt                                                 loan only) $150,000 or
                                                                                      years.                                    for compelling reasons;                                                 less = 2% guaranty fee.
                                                                                                                                inventory.                                                              Plus applicable closing
                                                                                                                                                                                                        costs.

Existing businesses                      $150,001 - $250,000        Prime        Working Capital DCR 1.15:1 +         yes       Same as above.             680 Business Plan          75% guaranty      $1,500 - $2,500
(24 months + )                                                   plus 5.00%,     & machinery &                                                                 maybe required.        for loans         packaging/
                                                                                  equip (not to                                                                                       greater than      processing fee.
with profitable operating history                                 Adjustable      exceed life of                                                                   Nonprofits are not $150,000 up to
                                                                   quarterly     equip) is 5 -10                                                                   eligible to apply. $250,000.         (fee charged on
                                                                                   years; real                                                                                                          guaranteed portion of
                                                                                   estate is 20                                                                                                         loan only) $150,001 -
                                                                                      years.                                                                                                            $250,000 = 3% guaranty
                                                                                                                                                                                                        fee.

                                                                                                                                                                                                        Plus applicable closing
                                                                                                                                                                                                        costs.




504 Loan Program
Provided through Certified Development    504 CDC maximum        Fixed rate on   CDC Loan: 10-      DCR 1.15:1 +      yes       Long-term, fixed-asst      650 For-profit             Project costs:     - Lender share 5%
Companies (CDC's) which are licensed     amount ranges from        504 Loan      or 20 year fixed                               loans; Lender financing        businesses that        financed as       - CDC share 1.5%
by US SBA.                               $5 million to $5.5       established     interest rate .                               secured by first lien on       do not exceed $15      follows: CDC       - CDC Servicing Fee 1%
                                         million depending on        when                                                       project assets.                million in tangible    up to 40% non     (on unpaid balance)
Participation loan with Banks or Third   the type of business.     debenture      Lender Loan:                                                                 net worth, and do      guaranteed         - SBA guarantee fee
Party Lenders                                                    backing loan     financing may                                 CDC loan secured by a          not have an            financing:        .9375% (on outstanding
                                                                    is sold.       have shorter                                 second lien on the             average two full                         balance)
                                                                                   term. May be                                 financed project.              fiscal year net        Lender: 50%
                                                                                      fixed or                                                                 income over $5         Equity: 10%
                                                                                 adjustable rate.                                                              million.               plus additional
                                                                                                                                                                                      5% if new
                                                                                                                                                                   Owner occupied     business
                                                                                                                                                                   51% for existing   and/or 5% if
                                                                                                                                                                   or 60% for new     special use
                                                                                                                                                                   construction.      property.




                                                                                                                                                                                            Ellen McHenry
 T 908-527-1166                                                                                 www.ucedc.com                                                                         emchenry@ucedc.com

				
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