Eligibility
Business Types
Eligible Borrowers
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Must be a for-profit or not-for-profit business
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The business must meet Small Business Administration (SBA) determined small business size standards at the time of the application
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The business must meet business type requirements. Any type of legal, small business is eligible to borrow a micro-loan. We lend to sole proprietor, partnerships, and corporations.
Ineligible Borrowers
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Loan requests whose entities whose operations detract from the good of the community or conflict with CSC lending mission would not be pursued or approved
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The following business types:
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Residential landlord / developer
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Hotel/motel
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Liquor store
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Financial / lending institution
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Private club, fraternity/sorority organization
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Loans for political purposes
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Adult oriented business or sexually prurient business
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Loans for the sole purpose of property acquisition & rehabilitation with the intention of resale, also know as flipping
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Loans for illegal purposes: all loan purposes must be in compliance with Federal, State, and Local laws
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Loans to businesses associated with armament
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Loans for purely speculative purposes
Use of Funds
Eligible Use of Proceeds
Ineligible Use of Proceeds
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Working Capital
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Inventory
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Supplies
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Furniture
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Fixtures
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Machinery
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Equipment
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Down payment purposes
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Purchase of real estate
Type of Collateral | Valuation |
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Accounts Receivable (A/R) | 75% of <90 days A/R |
Inventory | 25% |
Furniture, Fixtures, and Equipment | 50% of book value or 90% of appraisal |
Vehicles under 5 years old | 90% of kbb.com wholesale valuation |
Residential Real Estate | 80% of comparable sales value or appraisal |