
SCORE Bucks County Pennsylvania Chapter 570

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Minority Pre-Qualification Pilot Loan Program

WHAT IT IS:
Provides minority assistance in qualifying by providing intermediaries selected by SBA to help prepare and review business plan and pre-qualification loan application. If qualified, SBA will authorize a loan guarantee which is presented to a competitive lender with assistance by the intermediary.

ELIGIBILITY:
At least 51% owned by racial/ethnic minority. Must meet 7(a) loan eligibility and size criteria.

INTEREST RATE:
Same as 7(a) loans. Maturity also similar.

AMOUNT:
Generally the maximum loan is $155,000

CREDIT:
Willingness/ability to pay debts. Good credit.

COLLATERAL:
Likelihood for success. Must pledge business/personal assets and personally guarantee loan. Loan may not be denied if inadequate collateral is the only negative.

FOR INFORMATION:
Contact CDC Small Business Finance Corp. 714-978-1182 or 909-352-5730

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Minority Pre-Qualification Pilot Loan Program

ELIGIBILITY: At least 51% owned by racial/ethnic minority. Must meet 7(a) loan eligibility and size criteria.

INTEREST RATE: Same as 7(a) loans. Maturity also similar.

AMOUNT: Generally the maximum loan is $155,000

CREDIT: Willingness/ability to pay debts. Good credit.

COLLATERAL: Likelihood for success. Must pledge business/personal assets and personally guarantee loan. Loan may not be denied if inadequate collateral is the only negative.

FOR INFORMATION: Contact CDC Small Business Finance Corp. 714-978-1182 or 909-352-5730