Loan Programs Available in Orange County
ACCION
Operating the largest micro lending network in the United States since 1991, ACCION USA has provided more than $114 million in financing to small business owners who are not yet able to obtain traditional loans. Average loan size is $4,500, and applications may be completed online.
SoCal Reinvestment CDFI
SoCal Reinvestment CDFI administers loan programs for financing under $200,000 in Orange, Riverside, and San Bernardino counties. These loan pools are a consortia of small business lenders that pull together to make the loans available for businesses who do not qualify for SBA or conventional bank financing. All small businesses in the service area are eligible.
Small Business Administration’s 7 (a) Loan
7(a) loans are the most basic and common of SBA’s business loan programs. Loan proceeds may be used to establish a new business or to assist in the operation, acquisition or expansion of an existing business. These may include the expansion or conversion of existing facilities, the purchasing of equipment, furniture and supplies, and the financing of long-term and short-term working capital needs.
SBA Micro Loan Program
The Micro Loan Program provides very small loans to start-up, newly established, or growing small businesses. Under this program, SBA makes funds available to nonprofit community based lenders (intermediaries), which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $10,500. Applications are submitted to the local intermediary and all credit decisions are made on the local level.
Intermediary Lender for Orange County:
Valley Economic Development Corp.
5121 Van Nuys Blvd. 3rd Floor
Van Nuys, CA 91403
Phone: 818-907-9977; Fax: 818-907-9720
www.vedc.org |
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504 Loan Program
CDC/504 loans offer small businesses long-term, fixed-rate financing for major fixed assets. Financing is arranged through a Certified Development Company (CDC), a non-profit corporation that is set up to contribute to the economic development of its community. The CDC, in turn, works with the SBA and private sector lenders to provide the business with funding.
For more information about SBA-504 Loans in California, contact:
CDC Small Business Finance
www.cdcloans.com
800-611-5170
Southland EDC
www.southlandedc.com
(714) 647 – 1143
State Financing Opportunities
For a Resource Guide to Financing Opportunities available with the State of California, click here.
Other Financial Resources
Garage Technology Ventures
Garage Technology Ventures is an early-stage venture capital firm, focusing on emerging technology companies in California and the West Coast. Typical investments range from $100,000 to $1,000,000.
Tech Coast Angels
Tech Coast Angels invests in Southern California companies that show potential for high growth, a strong market position, and a sustainable advantage. Tech Coast Angels is California’s largest angel investor network, with a membership of more than 300 accredited investors from virtually every background and industry. |
