SBA 504/CDC Loan

Business Financing Options from $10,000 to $5.5 Million

SBA Community Advantage Loan Program ($50,000 to $250,000)
If you're a small business owner experiencing difficulty finding financing from traditional sources, Enterprise Commercial Financing can help. We offer the SBA Community Advantage loan program to support businesses in all stages of growth, including start-up, growing and established businesses. As an expert source of Community Advantage loans, our process is stremlined and customized to meet your unique needs. Apply online today to access the affordable capital you need to grow your business.

Program Highlights:     Apply online      *     Flexible Funding     *     One-on-One Support

                                         Approvals in 3-4 weeks     *     Most loans fully funded in 6 to 8 weeks
Program Details:
  • Loan Amount: $50,000 to $250,000
  • Terms Up to 10 years for non-real estate transactions, up to 25 years for real estate transactions
  • Interest rate: Prime +4.0%, Variable
  • Standard SBA, Third Party and Brokerage Fees 

Eligibility Criteria
If you can demonstrate a good history of paying your business obligations (including debts and taxes), you are a good candidate for a loan.

Required Information
Your loan officer will discuss specific requirements for your application with you. In general, you will need to provide:
  • Most recent 3 years of business and personal taxes
  • Informationon existing business debts (if applicable)
  • Information on proposed use of funds
  • Information on historic and projected operations


THE 504 Loan ( $50,000 to $5.5 Million)
504 loans are second mortgage loans that are ideal for businesses seeking financing for the acquisition and/or improvement of owner occupied real estate and equipment. In addition, 504 loans can support the refinance of debt incurred for these purposes. This program provides access to low down payment financing while supporting business growth and job creation.

Program Highlights:  Low Down Payment   *   Up to 90% Financing   * Competitive Fixed Interest Rate
                                     
                                      10, 20 and 25 year Repayment Terms   *   Loan Amounts frm $50k to $5.5M
Use of Funds
  • Acquisition and/or improvement of owner occupied real estate
  • Acquisition of machinery or equipment
  • Refinance of qualified debt and eligible business expenses


The SmartLoan ($10,000 to $100,000)
The Ecelsior Growth Fund (EGF) SmartLoan combines affordable interest rates and flexible requirements with an easy online process to make loans available to small businesses--FAST! We make it possible to get the capital you need for equipment purchases, working capital, debt reifinancing, leasehold improvements and more, even if you've been turned down for bank loans. Larger loans up to $500,000 and loans for businesses that don't meet SmartLoan requirements are also available.

SmartLoan Highlights:   Loans funded in 1 week   *   Easy online process   *   No Prepayment Penalty

Program Details
  • Loan Amount: $10,000 to $100,000
  • Terms Up to 5 years 
  • Interst Rate: 11.9%
  • 5% Commitment Fee
  • Blanket lien on business assets
  • Personal guaranty from all owners with 20% or more ownership

Eligibility Criteria
  • ​2 or more years in business
  • 2 or more employees
  • Operating at break-even or positive cash flow
  • Mid Credit score of 640 or above
  • More than  $120,000 in annual revenue
  • No liens or judgments filed within the past 3 years
  • No prior bankruptcy for the owners and business

Required Documents 
Most recent two years of business and personal tax returns
  • Copy of driver's license or other photo ID for all owners
  • Information about existing business debts (if applicable)


Permanent 504 Refinance Program

Eligibility Requirements
  • Borrower has been in operation under the same ownership for 2 years as of the date of the application. De minimus changes in ownership are acceptable.
  • Borrowers for the refinance program must meet all current 504 loan eligibility requirements.

Debt Eligibility for Refinance ("Qualified Debt")
  • Incurred 2 years or more years before the application date
  • Not guaranteed by a federal agency
  • Incurred for the benefit of the small business concern
  • Secured by eligible fixed assets
  • Paid on a current basis for at least one year prior to the date of the application
  • May consist of multiple loans
  • Refinance projects consisting solely of qualified debt may have an overall Loan to Value of 90%

Eligible Business Expenses
  • With a quaified debt, business operating expenses can be included into the project financing. Eligible expenses include salaries, rent, utilities, inventory, or other business obligations.
  • Eligible business expenses included in the refinance project shall not exceed 20% of the market value of the project. The overal LTV shall not exceed 85%.

Application Requirements
  • Copies of notes, mortgages and UCCs of the qualified debt must be provided
  • Transcript of the previous 12 month payment history on the qualified debt and other secured debt being refinanced. Transcript must confirm that the borrower is current on all payments due.
  • Appraisals are not required at the time of application. However, appraisals dated within 6 months of the application date are required prior to closing.






Contact Kevin Jamison directly at (855) 577-2500 x702 with your questions or to apply.