• SBA Lending Overview for Small Businesses - In Person

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    Name: SBA Lending Overview for Small Businesses - In Person
    Date: March 7, 2024
    Time: 10:00 AM - 12:00 PM CST
    Event Description:
    What Lenders look for in Underwriting a loan
    Overview of SBA Loan Programs:

    7a Loan Program - PRIMARY LOAN PROGRAM
    7a Small Loan
    Community Advantage Small Business Lending
    SBA Express Loan Program
    504 Loan Program - PRIMARY LOAN PROGRAM
    Microloan Program
    Very Brief Discussion on Doing Business with the Federal Government (Contracting)
    What is the 7a Loan Program?
    7a Standard - loans from $500,000 - $5,000,000
    7a Small Loans - loans up to $500,000 - Loans are Credit Scored
    The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements such as:
    • Short- and long-term working capital
    • Refinance current business debt
    • Purchase real estate, furniture, fixtures, and supplies
    The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.

    What is the 504-loan program?
    The CDC/504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation.

    504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA.

    The maximum loan amount for a 504 loan is $5 million. For certain energy projects, the borrower can receive a 504 loan for up to $5.5 million per project, for up to three projects not to exceed $16.5 million total.
    Alabama District Office
    2 20th Street North, Suite 325
    Birmingham, AL  35203
    Date/Time Information:
    Thursday, March 7, 2024
    10:00 a.m. - 12:00 p.m.
    Contact Information:
    Roderick Perkins 205-290-7785
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  • Montgomery Area Chamber of Commerce
    600 S. Court St, P.O. Box 79
    Montgomery, Alabama 36101
    Tel: 334.834.5200   Fax: 334.265.4745

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