Selma, Al In Person SBA Lending Overview Workshop

1103 Selma Avenue,Selma AL 36703

30 May, 2023

Description

This In-Person Workshop will be held at the Selma Public Library on May 30th, 2023 from 10am - 12pm and on May 31st, 2023 from 1pm - 3pm. The 7(a) loan program is SBA's primary program for providing financial assistance to small businesses for essentially any business purpose. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan. Come learn about the different types of 7a Loans used for the following purposes: o Short- and long-term working capital o Refinance current business debt o Purchase real estate, equipment, furniture, fixtures, and supplies Different 7a Loans: - General 7a Loan up to $5,000,000 - Designed for any Business Purpose -Community Advantage Loan up to $350,000 - Designed to meet the Capital Needs of Underserved Markets -Veterans Advantage up to $500,000 - Designed to meet the Capital Needs of Veterans, Members of the Guard and their Spouses -SBA Express Loan up to $500,000 - Less paperwork and a faster turn-around-time -SBA Microloan - Small Loans up to $50,000 The CDC/504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation. 504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA. Please contact Roderick D. Perkins at [email protected] or by phone at (205)290-7785 with any questions or concerns you may have.