Small & Commercial Business Loan Minorities in California

What is SBA Loan?

SBA loans are small, commercial business loans guaranteed by Small Business Administration aka SBA. A SBA loan is without doubt the best way to finance your small business. As these loans are guaranteed by federal agency, in most cases lending members (mostly banks) offer SBA loans at flexible terms as well as lower interest rates. While getting a SBA loan can get you the needed fund without crippling interest rates, obtaining it is not easy. This is where our expertise and experience comes into play. So, if you are looking at getting funded with a SBA loan, minorities business loan in California. Get in touch with our experts today and get funded fast!

7(a) Loan Program

The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes. The 7(a) Program provides a guaranty for the Bank on a Borrower's loan, allowing the Bank to accept more risk with an otherwise qualified Borrower. The 7(a) is often used for an established business that is expanding its operation.

Funds May Be Used For The Following

Fund startup costs.
Buy equipment.
Purchase new land (including construction costs).
Repair existing capital.
Purchase or expand an existing business.
Refinance existing debt.
Purchase machinery, furniture, fixtures, supplies or materials.

Funds May Be Used For The Following

Working capital.
The purchase of inventory or supplies.
The purchase of furniture or fixtures.
The purchase of machinery or equipment.
Proceeds from a microloan cannot be used to pay existing debts or to purchase real estate.

Microloans

The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.

CDC/504 Loan Program

SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. As of February 15, 2012, the $50 Billion in 504 loans has created over 2 million jobs. This program is a proven success and win-win-win for the small business, the community and participating lenders. The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. 504 loans are made available through Certified Development Companies (CDCs), SBA's community based partners for providing 504 Loans.

Funds May Be Used For The Following

“Must be used for fixed assets (and certain soft costs), including”

The purchase of existing buildings.
The purchase of land and land improvements, including grading, street improvements, utilities, parking lots and landscaping.
The construction of new facilities or modernizing, renovating or converting existing facilities.
The purchase of long-term machinery.
The refinancing of debt in connection with an expansion of the business through new or renovated facilities or equipment.

Our Offerings

Pathera Financial California offers a number of SBA loans to small businesses. With an aim to help your business grow, Panthera experts find out the right SBA loan that you are eligible for and ensure that you receive the loan at the fastest possible time.