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If you are looking for a loan program to fund a project that is under $13 million, with better terms than a traditional loan. Also available for veterans.
CTCIC partners with a traditional lender (usually a bank) and will put together a financing package of up to 90 percent of the cost of the expenditure. The 10 percent borrower equity requirement is a full 10 to 20 percent lower than the equity required for a conventional loan.
Veterans are also able to access this fund through the VetLoan Advantage Program.
- Finances up to 40 percent of the total project. (Our lending partners finance up to 50 percent of the total project.)
- Loan portion is fully amortized over an extended term (10 or 20 years) and has a below-market interest rate that is fixed for the entire term of the loan. No interest rate adjustments. No balloons.
- Must create or retain jobs or meet alternative economic or community development goals set forth by the SBA.
- Loans capped at $5 million ($5.5 million for manufacturers), which means an SBA 504 loan can be a useful financing tool to fund projects up to $13 million and beyond.