Business Loans Need Money for Your Start-up or Existing Business? WBCNA provides assistance to start-ups or existing businesses who need to borrow money for their small business. To date, the WBCNA has helped small business owners in North Alabama receive over $2,000,000 in small loans. The SBA recognized that many segments of the small business community continue to have difficulty in accessing capital from traditional lending markets. These businesses are generally newer, smaller businesses that need small size loans accompanied by technical assistance. To assist these small businesses, the SBA developed the Community Express loan program, an innovative approach to bring SBA financing to areas where commercial loans have been difficult to get. Additionally, lenders use expedited loan review and approval procedures to process these loans. The SBA Community Express program is specifically designed to increase working capital, help business owners meet daily operating expenses and accelerate growth. Community Express loans are an inexpensive alternative to expensive credit card debt, and provide a regular payment schedule. Interest rates are competitive and are Prime + 3.25% to 4.75%, depending on how much you borrow. Small businesses can receive loans up to $50,000 with no collateral with 7-10 years repayment terms. The application process is easy and loan decisions are made quickly. Loan proceeds can be used for purchasing inventory, machinery and equipment, land and buildings, and for working capital. The loan proceeds CANNOT be used to purchase an existing business. The small business MUST have a business checking account. Loan proceeds are wired directly into the account and payments are automatically debited each month. The critical element of the program is the technical assistance that is provided by WBCNA. Technical Assistance has been recognized as often crucial to the success of these businesses. Borrowers must receive technical and management assistance from a local Technical Assistance Provider (TAP) before and after the loan closes. If you need money for your small business, call us at 256-213-2727 or attend our monthly Loan Clinic the 3rd Wednesday of every month, 10:00-11:00 a.m. at the WBCNA. The Loan Clinic is normally held on the 3rd Wednesday of every month at 10:00 a.m. Please go to our online calendar to register. Lenders that participate in the SBA Community Express Loan Program in Alabama are: Redstone Federal Credit Union Jack Wright, Assistant VP, Business Lending 220 Wynn Drive Huntsville Alabama 35893 Phone: 256-722-3636 Fax: 256-722-3759 Apply Online: https://www.redfcu.org/business/your_business_sba_community_express.htm Borrego Springs Bank Fred Crispen or Terry Crispen 7777 Alvarado Road La Mesa, CA 91941 Phone: 866-644-0042 (toll free) Fax Completed Application to: 866-717-7718 Apply Online: http://www.borregospringsbank.com/sba_express.asp Innovative Bank Attn: SoHo Department 360 14th Street Oakland, CA 94612 Phone: 866-812-1216, option 1 Website: http://www.innovativebank.com/site/soho_application.html Superior Financial Group 165 Lennon Lane Suite 101 Walnut Creek, CA 94598 Phone: 877-675-0500 (toll free) Fax: 925-296-0510 Website: http://www.superiorfg.com/Main/Default2.aspx To Pre-Qualify contact the WBCNA at 256-213-2727 Conveniently located at the Crestwood Women's Center.