SMALL BUSINESS FINANCINGOrange County EDC
The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.
SBA is committed to helping small businesses in the US succeed. As such, several programs and laws have been sponsored that directly affect small business owners.
SBA Real Estate Advantage Loan
The Real Estate Advantage Loan Program (REAL) provides long term (20 years) fixed rate financing for the purchase, construction or renovation of real estate and equipment. Borrowers are eligible for up to 40% financing from SBA. Third party lender participation provides a companion loan minimizing the borrowers contribution to as little as 10%. Contact our local Certified Development Company for more information at 409.838.6585.
SBA 7a Loan Program
The 7(a) Loan Program, SBA’s most common loan program, includes financial help for businesses with special requirements. Similar to the Real Estate Advantage Loan, the 7a Loan provides long term financing for eligible businesses and a reduced capital injection. However, the 7a program does not guarantee a fixed interest rate for the term of the loan. Additionally, the financing of a 7a loan is administered directly through a third party lender with no involvement from a Certified Development Company. For more information on the 7a Loan Program, contact your local lending institution.
For more information:
Southeast Texas Economic Development Foundation
Cheryl Kizer, CDC Prgram Manager
409.924.7544 | firstname.lastname@example.org | setedf.org