Lending Power | Loan Programs & Leadership for small business


SBA 504 Current Rate:


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Eligibility & Requirements



The goal of Community Advantage loans is to support economic growth in specific areas and to provide opportunities to business owners who might otherwise find difficulty obtaining traditional financing. 

To qualify for a Community Advantage loan, your business must:

  • Meet the US Small Business Adminstration's definition of a Small Business
  • Be a for-profit entity
  • Be able to contribute at least 10% of the total project cost

Non-profit entities, religious institutions, real estate investors, and financial institutions do not qualify for the Community Advantage Program.

60% of our Community Advantage loans must be made to small businesses located in targeted areas including Enterprise and Empowerment Zones; or start-up businesses; or veteran-owned businesses including spouses/widow(ers) of veterans.



  • Business owners must have good personal credit and demonstrate an ability to repay the loan in full
  • Generally start-up businesses (operating two years or less) are required to contribute a minimum of 20% of total project costs in cash equity or assets
  • For business acquisition financing, borrower is required to contribute 20% of total project costs
  • Loans must be fully collateralized with business and/or personal assets whenever possible however lack of ability to fully collateralize a loan is not a barrier to obtaining a loan
  • Business owners must have at least 2 years of experience in the industry


Since 1973, CIC has worked extensively with several different SBA loan products. Our team of business and financial experts are adept at managing the loan process and advancing it with a unique level of accuracy and efficiency. The quickest and easiest way to determine if a business and a project meet program eligibility requirements is to contact us directly.

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.