SHCC Member Micro Loan Program designed to help you grow your small business
Loans to assist small businesses that cannot qualify for bank loans or lines of credit
SBA Loan Guaranty Programs
SBA financial assistance programs for small businesses
Frequently asked questions for borrowers
SHCC Micro Loan Program
Our exciting Micro Loan Program is designed to help you grow your small business. This service is available to all SHCC members.
The Micro Loan Program is available to all members, with loans ranging from $5,000-$35,000. at 9.5%.
If you have challenging credit or no credit, the Micro Loan Program is your answer. Approved loans applied by Members of the Sacramento Hispanic Chamber will get a discount on their loan fees.
“The Micro Loan of the Hispanic Chamber of Commerce is one of the best resources that the Chamber provides during these difficult times. As a small business owner it will be impossible to keep the doors of my business open without the Micro Loan from the Hispanic Chamber of Commerce.”
Hector M. de Avila Gonzalez, FLC (Mexico)
DE AVILA LAW FIRM
Threshold Eligibility Requirements:
- Applicant must be current on all federal, state and local taxes
- Applicant must be current on all child support payments
- Applicant must have not have filed bankruptcy within the last 5 years, VSBDC may consider a loan request from an applicant who has a previous bankruptcy history. However, the bankruptcy must have been closed for a minimum of two (2) years and the applicant must have re-established acceptable credit since the bankruptcy
- Applicant must not have a history of any felonies
- Applicant must demonstrate the ability (on historical and/or projected basis) to satisfy the debt servicing requirements of the loan requested as well as the global debt servicing requirements of the applicant
- Applicant’s operation must demonstrated the ability (on a historical and/or projected basis) to satisfy all debt servicing requirements of the operation with a debt coverage ratios of at least 1.10 to 1
Fill out your application today!
Please print out the below application and fax it to us at 916.486.7728.
Make sure to mention that you are a SHCC member!
California Small Business Loan Guarantee program
This state program, offered by the California Technology, Trade and Commerce Agency, assists small businesses that cannot qualify for bank loans or lines of credit under reasonable terms and conditions. Guarantees up to 90 percent of the amount, not to exceed $350,000, are available to near bankable small businesses that can show they can repay. With a state guarantee, lenders often provide loans to these businesses.
California Capital Financial Development Corporation,
which issues the guarantees on behalf of the state at (916) 442-1729
SBA - The Surety Bond Guarantee Program
Although it is not a business loan program, the Surety Bond Guarantee Program is a public-private partnership between the federal government and the surety industry providing small business with the bonding assistance necessary for them to compete for government and private contracting opportunities. The guarantee provides the necessary incentives for sureties to bond small businesses that would otherwise be unable to obtain bonding. Through this program, the SBA (Small Business Administration) guarantees bid, payment and performance bonds issued by the surety companies for individual contacts up to $2 million on behalf of the small business owner.
For more information, visit www.sba.gov and choose services and click on Surety Bonds. Local offices in Sacramento to contact: American Contractors Indemnity, Lesron Insurance Agency and Valley Surety Insurance Agency.
SBA Financial Assistance
SBA provides a number of financial assistance programs for small businesses including 7(a), 504 and disaster assistance loans. Within this section, we’ll review eligibility requirements, SBA’s loan programs, surety bonds and the role of SBA, equity capital topics, special purpose loans, SBA partner topics and 7(a) lender programs. Though the SBA does not provide grants to help you start a business, included is information on organizations and sites that can assist you in locating special purpose grants.
FREE Online Course: Finance Primer: Guide to SBA's Loan Guaranty Programs
ARC LOAN PROGRAM
The America’s Recovery Capital, or ARC, loan program is designed to give viable small businesses
suffering immediate financial hardship some temporary financial relief so they can keep their doors open
and get their cash flow back on track.
For answers to your Frequently Asked Questions, click here.