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).
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