Lending Power | Loan Programs & Leadership for small business

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SBA 504 Current Rate:

4.607%

View Rates

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Community Advantage Loans

Community Advantage Loans 

SBA Fees Waived for Loans Under $150,000.  Apply NOW and Save!

Community Advantage is an exciting new SBA lending program designed to meet the financing needs of existing small businesses in underserved communities as well as start-up businesses located anywhere in Connecticut or Rhode Island.  

Our Community Advantage borrowers are not quite ready for traditional financing for a variety of reasons, but have the character and experience needed to be successful.  

Community Advantage focuses on providing opportunity where opportunity may be limited.  While focused on our mission, CIC programs are not exclusive and any business owner may apply.blue-divider.png

 THE CIC ADVANTAGE

A Community Advantage loan from CIC offers borrowers not only opportunities for financing, but accompanying business consulting support throughout the life of the loan. Our goal, like yours, is to ensure the long-term success of your business!


TERMS AND CONDITIONS
 

      • Maximum Loan Amount: $150,000 (up to $250,000 under certain circumstances)
      • Term: 7-10 years for working capital, inventory, business acquisitions, tenant improvements, or start-up expenses; up to 25 years for real estate
      • Interest Rate: Wall Street Journal Prime + (2.75% to 6%), variable
      • Can be combined with our Microloan Program

  

START-UPS WELCOME!  SEND US YOUR BUSINESS PLAN TODAY.


For the full list of Community Advantage loan requirements, contact a CIC Lender or Business Counselor.

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THE GUIDANCE TO GROW

CIC provides guidance, support, and assistance both before and after your loan closes. Our mission is to help ensure the success of your business. link_arrow.png

CIC is an economic development lender contributing financial expertise and practical guidance to small business entrepreneurs in Connecticut and Rhode Island who have powerful ideas and need more power to grow them.