Community Express Loans
DO YOU NEED A $5,000 TO $50,000 LOAN FOR YOUR BUSINESS?
These are expensive loans and should only be considered as a last resort for financing. Qualifying for these loans depends on many factors. There are major qualifications and major disqualifiers.
Please visit the Websites of the two banks to see the disqualifiers and qualifications.
The two Websites are:
Innovative Bank (www.innovativebank.com)
Superior Financial Group (www.superiorfg.com)
The U.S. Small Business Administration provides its “Community Express” Loan program, geared primarily to minorities, women, veterans, and businesses in traditionally under-served areas.
SCORE counselors will assist you with a special loan program from the SBA. The loans are funded by two SBA-approved lending institutions, Innovative Bank and Business Loan Express. The “Community Express” program offers qualified small business owners loans up to $50,000 with a 7-year term, no prepayment penalty, minimal paperwork, and technical assistance as needed.
The program is structured to ensure that borrowers receive appropriate pre- and post-loan management and technical assistance to help insure a successful business experience.
Required SCORE Counseling
The workshop is optional, but meeting with a SCORE counselor to complete a Technical Assistance (TA) form is required. There is no cost for this counseling session.
During your confidential counseling session, a SCORE counselor will complete a “TA” form, which is a required part of the loan application package. Please be aware that loan applications are not complete and will not be processed without the “TA” form. Your SCORE counselor will review your completed loan application and will assist you in submitting it to the lender for consideration.
Attendance at this workshop is NOT required for a Technical Assistance Document or Counseling Session. This seminar is $15.00 per applicant after the Pre Pay Discount. Additional partners or spouses are $5.00 per person (they will pay at the door).
SCORE and the SBA do not endorse the views, opinions, products or services of any other person or entity. All SCORE programs are extended to the public on a non-discriminatory basis. Reasonable arrangements for persons with disabilities will be made if requested.