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Express Loan Guarantee Program |
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In order to accommodate smaller requests ($200,000 or less) coupled with an expedited turnaround time small businesses must meet the following program criteria:
- 3-years of industry experience
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- Acceptable credit history
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- Operating for at least 24-months
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- Adequate collateral to pledge
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- Demonstrate positive cash flow (business & personal)
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$0 - $50,000 |
$50,001 - $100,000 |
$100,001 - $150,000 |
$150,001 - $200,000 |
MAXIMUM GTY: |
65% |
65% |
65% |
50% |
MAXIMUM TERM:
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Term Loan: 5 Yrs.
LOC: 1 Yr. |
Term Loan: 5 Yrs.
LOC: 1 Yr. |
Term Loan: 5 Yrs.
LOC: 1 Yr. |
Term Loan: 5 Yrs.
LOC: 1 Yr. |
FEES:
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Term: WAIVED
LOC: WAIVED
Doc. Fee: $200 |
Term: WAIVED
LOC: WAIVED
Doc. Fee: $200 |
Term: WAIVED
LOC: WAIVED
Doc. Fee: $200 |
Term: 1.0% (Guaranteed Portion)
LOC: ?% (Guaranteed Portion)
Doc. Fee: $200 |
TURNAROUND TIME: |
1-2 Days |
1-2 Days |
1-2 Days |
1-2 Days |
DOCUMENTATION
REQUIREMENTS:
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- Credit Memo (Signed & Approved)
- Interim Company F/S
- Two Yrs Annual Company F/S or
Business Tax Returns
- Two Yrs Personal Tax Returns
- Personal Financial Statement(s)
- Personal Credit Report(s)
- Priority UCC-1 Filing on All
Business Assets
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- Credit Memo (Signed & Approved)
- Interim Company F/S
- Two Yrs Annual Company F/S or
Business Tax Returns
- Two Yrs Personal Tax Returns
- Personal Financial Statement(s)
- Personal Credit Report(s)
- Priority UCC-1 Filing on All
Business Assets
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- Credit Memo (Signed & Approved)
- Interim Company F/S
- Two Yrs Annual Company F/S or
Business Tax Returns
- Two Yrs Personal Tax Returns
- Personal Financial Statement(s)
- Personal Credit Report(s)
- Priority UCC-1 Filing on All
Business Assets
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- Credit Memo (Signed & Approved)
- Interim Company F/S
- Two Yrs Annual Company F/S or
Business Tax Returns
- Two Yrs Personal Tax Returns
- Personal Financial Statement(s)
- Personal Credit Report(s)
- Priority UCC-1 Filing on All
Business Assets
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ELIGIBILITY
CRITERIA:
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- Financing for Virtually All
Business Purposes
- Relevant Industry Mgmt
Experience
- Positive Combined Business &
Personal Cash Flow
- Acceptable Credit History
- Minimum 24 Months in Business
(No Start-Ups)
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- Financing for Virtually All
Business Purposes
- Relevant Industry Mgmt
Experience
- Positive Combined Business &
Personal Cash Flow
- Acceptable Credit History
- Minimum 24 Months in Business
(No Start-Ups)
|
- Financing for Virtually All
Business Purposes
- Relevant Industry Mgmt
Experience
- Positive Combined Business &
Personal Cash Flow
- Acceptable Credit History
- Minimum 24 Months in Business
(No Start-Ups)
|
- Financing for Virtually All
Business Purposes
- Relevant Industry Mgmt
Experience
- Positive Combined Business &
Personal Cash Flow
- Acceptable Credit History
- Minimum 24 Months in Business
(No Start-Ups)
|
FDC Site Visit Required.
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