These loans come through nonprofit development companies licensed by the SBA. Certified Development Companies (CDCs) organize your financial package, complete all SBA paperwork, process, close, and service the loan, and finally, the CDCs help bring you business and long-term customers.
As a benefit to your business this loan offers you the ability to expand and modernize your business. The maximum amount guaranteed for the SBA portion of this loan ranges from $750,000 to $1 million. A for-profit business that does not exceed $6 million in tangible net worth and does not have an average net income over $2 million for the previous two years may qualify for this loan.
