Community Advantage is a pilot loan program introduced by the U.S. Small Business Administration (SBA) to meet the credit, management, and technical assistance needs of small businesses in underserved markets. Community Advantage provides mission-based lenders access to 7(a) loan guaranties as high as 85% for loans up to $250,000.
For profit businesses in underserved markets that can meet SBA’s size standards. Although a borrower must prove credit worthiness and the viability of the business idea: unlike traditional lending, qualification for this program is not limited by the size of the borrower’s balance sheet, or the amount of collateral involved.
Why Community Advantage?
- Management and technical assistance. Your Lender has access to SBA’s network of enhanced management and technical assistance. This service is provided to ensure that your business can start, grow and achieve long-term success. Services include business plan preparation, market research, accounting services, payroll, etc.
- Access to affordable credit. For businesses that might not qualify for traditional financing, Community Advantage can provide an alternative path to help build your business. Unlike traditional lending, qualification for this program is not limited by the size of the borrower’s balance sheet, or the amount of collateral.