1. California Loan Guarantee Program
The purpose of this program is to encourage banks to make small business loans that are not traditionally bankable. Emphasis is on the creation and retention of jobs. The program targets businesses with 500 or fewer employees and can also provide guarantees to Non-profit organizations.
Acceptable loan purposes include, but are not limited to:
- Business purposes such as expansion into new facilities,
- Purchase of equipment,
- New market development,
- Working capital,
- Lines of credit,
- Franchise fees,
- New construction or renovation,
- Refinancing of existing loan debt (with conditions)
- SBA 504 gap financing before the SBA debenture is available
Please contact us if a purpose is not listed above.
The terms of the Loan Guarantee Program:
- Available to loans no greater than $20 million,
- Maximum Loan Guarantee amount is $2.5 million,
- Maximum Loan Guarantee Percentage is 80%,
- Maximum Loan Guarantee Term is 7 years,
- Loan Guarantee fee is 2.5% of the guaranteed portion,
- Loan Documentation fee of $250
2. RUST Program
The purpose of this program is to assist small business owners with Underground Storage Tanks to come into compliance with UST regulations by removing, replacing, or upgrading Underground Storage Tanks. Rust loans and grants may be used to finance up to 100% of the costs necessary to upgrade, remove, or replace project tanks.
Please contact us if you have any questions.