Funding Opportunity - SBA Seeks Microloan Intermediaries

Join the Small Business Administration for a day of understanding the process to becoming an SBA intermediary. An ambassador to SBA Microlending Program.

FREE - Registration Requested

Description:

Fulfill Your Mission – Serve Your Community

Are you looking for funding to lend to small businesses in your community? Consider becoming a U.S. Small Business Administration microlender. You’ll further your organization’s mission-based goals while providing microloans and technical assistance to underserved entrepreneurs and small business owners.

An SBA Financial analyst will provide training on the microloan program to help you get started. Once approved, we’ll further support you by awarding annual grant funding of up to 25 percent of your debt balance to SBA to offset the cost of providing technical assistance to borrowers.

Plus, as a SBA Microlender, you’ll have access to our free online lead generation tool – Lender Match.

SBA Microloans:

SBA lends up to $6 million to each approved SBA Microlender at attractive rates and erms. Microloans are then made to small businesses under the following SBA parameters:

Loan Amount: Up to $50,000

Maximum Interest Rate: For loans up to and including $10,000, the lender cost of funds + 8.5 percent; for loans greater than $10,000, the lender cost of funds + 7.75 percent.

Terms: Are negotiated by the lender using your own underwriting standards; no penalties for early payoffs.

U.S. SBA San Diego District Office, 619-557-7250, sandiego@sba.gov

Event Contact: U.S. SBA San Diego District Office, Ken Luis 619-727-4871, kenneth.luis@sba.gov

SBA’s participation in this event is not an endorsement of any products, service or entity. SBA does not endorse the views, opinions, products or services of any participant, speaker or presenter of this event. SBA is not responsible for the content, accuracy, relevance of the information provided by third parties at this event. Reasonable arrangements for persons with disabilities will be made if requested at least two weeks in advance. Contact: Mike Sovacool, 619-727-4881, Michael.Sovacool@sba.gov.