Areas Served: Lancaster and Lincoln counties
CDR’s Small Business Loan Program is designed to assist under-capitalized, start-up and existing small businesses.
Theses businesses, for many reasons, often cannot qualify for traditional bank financing and support.
We can provide loans in amounts as low as $1,000 and up to $100,000. SBA Microenterprise loans: This loan serves start-up and micro-businesses in the Nebraska counties of Lancaster and Lincoln countiesand is funded by the SBA.
Loan amounts range from $1,000 up to $50,000; amortized with a term from 1 to 6 years.
Loans amounts up to $10,000 will have an interest rate of 8.5%; loan amounts over $10,000 will have a rate of 7.75%, and will be secured with appropriate collateral.
The Promissory Notes for these loans will be assigned to the SBA.
Eligibility Requirements: All loan applicants must meet the following criteria: – Applicants must be at least 19 years of age.
– Applicants must be U.S. Citizens or have a permanent residence card (I-551) or have an arrival-departure card (I-94) with a departure date that exceeds the term of the loan.
– Completion of required loan documentation.
– Borrower must have reasonable credit, or have demonstrated a willingness to repay debt by rectifying past credit problems.
– Applicant requesting the loan must be the business owner or senior partner and be willing to personally guaranty the note.
Businesses can use CDR’s loan capital for the following items, but is not limited to: – Real Estate – Equipment – Furniture & Fixtures – Inventory – Working Capital
Contact InformationCommunity Development Resources
Address: 285 South 68th St. Place, Suite 520
City: Lincoln
State: Nebraska
Website:
http://www.cdr-nebraska.org/www/main.php?area=subheader3.html&page=03_financial.php
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