CDC Small Business Finance
2448 Historic Decatur Road, San Diego, CA 92106
https://cdcloans.com/
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Total loans closed with Loan Factory
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Total loans closed with Loan Factory (past 12 months)
0
Lender overview
Basic information
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Lock policies & Fees
Lock Policies
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No
Lender's niche & Overlays
- Working capital loans for business acquisitions, tenant improvements, debt refinance, equipment purchase or any other general business use such as payroll, marketing, etc.
- Loan amounts between $30k - $350k, across 43 states in the U.S. (We do not lend in VT, LA, MN, NE, UT, SD & ND)
- We are an SBA Preferred Lender (PLP Lender), which means a faster closing time (on avg 35-45 days)
- Can fund startups (pre-revenue, new businesses or early stage entrepreneurs operating for less than 2 years), in addition to existing businesses
- 10% injection for new businesses and business acquisitions
- No collateral requirements (having no or limited collateral is not a disqualifier)
- Debt service coverage ratio of 1.15 (Most lenders are at a minimum of 1.25)
- Can utilize projection based underwriting (great for pre-revenue/new businesses or existing businesses that are looking to grow/expand)
- We have a program for clients who no longer qualify for SBA because they are not U.S. Citizens, but are instead, Legal Permanent Residents (LPR)
- No prepayment penalties or early payoff fees
- We are not a deposit gathering institution, so the client can retain their banking relationship without the hassle of having to move their accounts elsewhere
- We are not currently funding NAICS 722 (retail food & beverage businesses at this time)
Minimum FICO of 650
Lender turn time
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