Webinar: SBA Small Loan Advantage Program

Having trouble viewing this email? View it as a Web page. SBA District Office Join LA SBA Lender Team Teleconference - 5/31/12 @ 10am Small Loan Advantage Program Please join the Los Angeles SBA District Office - Lender Relations Division Thursday, May 31, 2012 from 10:00am to 11:00am for an opportunity to learn more about SBA’s Small Loan Advantage Program. This teleconference with SBA’s Los Angeles District Office will discuss the streamlined application process for SBA 7(a) loans up to $250,000. Please RSVP by emailing a list of attendees to:  LADOlenderRelations@sba.gov by Tuesday, May 29, 2012 and you will receive a follow-up e-mail with the conference call dial in information.  This training opportunity is being offered via telephone only. Overview of SBA’s Small Loan Advantage Program Small Loan Advantage is structured to encourage larger, existing SBA lenders to make lower-dollar loans, which often benefit businesses in underserved markets. - Maximum Loan Size: $250,000. - Guarantee: 85 percent for loans up to $150,000 and 75 percent for those greater than $150,000. - Approval Times: Most Small Loan Advantage loans will be approved in a matter of minutes through electronic submission (e-Tran). Non-delegated Small Loan Advantage loans will be approved within 5 to 10 days. - Paperwork: Small Loan Advantage features streamlined paperwork, with a two-page application for borrowers and lenders can use their own note and guaranty agreement. - Lender Requirements: Small Loan Advantage is open to financial institutions (currently 630 lenders) participating in SBA’s Preferred Lender Program (PLP).