CEDAR RAPIDS DISTRICT

FINANCE 

Small Business Investment Companies - cesbic.html

The Small Business Investment Company (SBIC) program. SBICs, licensed by the 
Small Business Administration, are privately organized and privately managed 
investment firms. They are participants in a vital partnership between 
government and the private sector economy. With their own capital and with 
funds borrowed at favorable rates through the Federal Government, SBICs provide 
venture capital to small independent businesses, both new and already established.

Certified Development Companies - cdc.html

The 504 Certified Development Company (CDC) Program provides growing businesses 
with long-term, fixed-rate financing for major fixed assets, such as land and 
buildings. A Certified Development Company is a nonprofit corporation set up to 
contribute to the economic development of its community or region. CDCs work with 
the SBA and private-sector lenders to provide financing to small businesses. 
There are about 290 CDCs nationwide. Each CDC covers a specific area. 

Preferred/Certified Lenders - plp.html

Certified lenders are those who have been heavily involved in regular SBA 
loan-guaranty processing and have met certain other criteria. They receive a 
partial delegation of authority and are given a three-day turnaround by the 
SBA on their applications (they may also use regular SBA loan processing). 
Preferred lenders are chosen from among the SBA's best lenders and enjoy full 
delegation of lending authority. This lending authority must be renewed at least 
every two years, and the lender's portfolio is examined by the SBA periodically. 
SBAExpress lenders use their own forms, analysis, and procedures and receive a 
50% guarantee on SBAExpress loans they approve, disburse and service. SBAExpress 
lenders may also utilize the standard 7(a) program when 75% - 85% guarantees 
are needed. 


Approved Microloan Participants - microloan.html

The MicroLoan Program was developed to increase the availability of very small 
loans to prospective small business borrowers. Under this program, the SBA 
makes funds available to nonprofit intermediaries, who in turn make loans to 
eligible borrowers in amounts that range from under $100 to a maximum of $35,000. 
The average loan size is $15,000. Completed applications can usually be processed 
by the intermediary in less than one week. 

Also see: 

Cedar Rapids Area Business Start-up Kit - startup.html 
Financing Your Business - http://www.sba.gov/financing/ 
SBA Loan Programs - http://www.sba.gov/financing/sbaloan/snapshot.html

Last Modified: 6-25-2003