Areas Served: San Diego County
The Loan Guarantee Program is designed to assist small businesses that need additional support in the form of a guarantee to induce a bank to lend.
Our program places special emphasis on women and minority-owned businesses as well as businesses located in the enterprise zones.
California Southern is not limited to the types of loans or financial assistance that can be made to businesses.
However, the business must: (1) be unable to obtain financing without a guarantee, and ; (2) demonstrate repayment ability with adequate collateral support.
Guarantees can be issued on short term loans, revolving and contract lines of credit, and term loans for asset purchases, purchases of existing business, or for establishing a new business.
California Southern can guarantee up to 90% of a loan with a maximum dollar exposure of $500,000 and a maximum term of seven years.
There is no minimum loan level.
The fees include 2% of the portion of the loan that is guaranteed and a $250 documentation fee.
The time involved in securing a guarantee depends upon a number of factors.
First, there must be a bank willing to fund the loan subject to receiving the guarantee.
All required financial information and supporting documents must be provided to California Southern together with the request from the bank for the guarantee.
Contact InformationCalifornia Southern Small Business Development Corp
Address: 600 B Street, Suite 2450
City: San Diego
State: California
Website:
http://www.casouth.com/
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