A huge number of small business owners have already been helped by SBA loans to get them started and thriving in the business world. Many business owners have appreciated having these SBA loans available because they generally offer desirable rates and terms that are not usually available elsewhere. Some great news about SBA loans is that the government is currently testing two pilot programs which might offer additional alternatives for helping small businesses.

Express Bridge Loan (EBL)

This loan program was begun with the intention of supplementing the SBA’s disaster loan offerings, and it allows lenders to provide SBA-guaranteed financing to businesses that have undergone some type of disaster. The funding for such a loan will be expedited and will support those disasters which have been officially declared as such by the President. This kind of loan will provide immediate relief while a business waits for longer-term financing. The maximum amount of any loan that a business would be able to obtain under this program is $25,000, of which half would be guaranteed by the SBA.

Community Advantage

The goal of this program is to provide credit which is affordable to companies who would not ordinarily qualify for traditional financing. It can provide an alternative way of building your business since it also offers services such as payroll, accounting, market research, and business plan preparation. The Community Advantage program connects lenders with loan guarantees from the 7(a) program, on loans up to amounts of $250,000. The idea behind the Community Advantage program is that it will kickstart a business by providing essential resources and funding, which will provide a major assist toward sustaining many small businesses.

Would Your Company Benefit By an SBA Loan? 

If so, we may be able to help you acquire an SBA loan. Contact us at Commercial Capital Finance, so we can discuss some options which may be available to you for acquiring an SBA loan.