Our Model

Loans for Business

SBA 504 First Mortgage Loans

  • Eligible Borrowers: For-profit small businesses (as defined by the Small Business Administration program) located in one of LISC’s 30 program areas or in a Rural LISC program area that are acquiring or renovating a building. Borrower must have a personal credit score above 680. Business must occupy at least 51% of the property, be located in an NMTC-eligible census tract, and have a minimum of two successful years in the industry in which they are requesting financing.
  • Project Amount: $400,000 to $5 million
  • Interest Rate: Below-market rate, fixed for 7 years
  • Product Term: 30-year term with 3-year interest-only period
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SBA Community Advantage Program

  • Eligible Borrowers: For-profit small businesses (as defined by the Small Business Administration program). Funds may be used for working capital, equipment, inventory, business acquisition, tenant improvements, real estate, debt refinancing, and startup expenses. Borrower must have a minimum personal credit score of 625. We will consider startups as long as the borrower has at least two years of direct industry experience.
  • Loan Amount: $50,000 to $250,000
  • Interest Rate: Variable
  • Product Term: 7-10 years
  • Other Considerations: Emphasis on minority-, veteran-, and women-owned businesses or those that are in low-to-moderate income areas.

Commercial/industrial projects

  • Eligible Borrowers: Community development corporations, nonprofit and for-profit developers
  • Interest Rate: 6%; variable
  • Product Term:
    • Bridge: 3 years
    • Working Capital: 2 years
    • Predevelopment: 2 years
    • Acquisition: 3 years
    • Construction: 3 years
    • Mini-Perm: 7 years
    • Permanent: 27 years
  • Loan Fees: Up to 1.5% of loan amount plus legal fees