Through a voluntary iniative spearheaded by the National Association of Development Companies (NADCO), CIC offers the VetLoan Advantage Program, a cooperative program that provides honorably discharged veterans with credits towards assorted fees at the closing of their SBA 504 Loan.
The VetLoan Advantage Program complements the Small Business Administration's efforts to increase SBA 504 loans to veterans by 5% each year for the next 5 years. The program is designed to offer financial incentives to veterans who are seeking capital to start or expand a business through the acquisition of real estate or machinery and equipment.
CREDITS TOWARDS FEES
To help veterans obtain loans with reduced rate financing, CIC offers a credit of up to $2,000 to reimburse the actual cost of an appraisal. Neubert Pepe & Monteith and Stokesbury, Shipman & Fingold, LLC, the law firms who represents CIC in the 504 Loan closings, will each offer a $500 credit towards the cost of the firm’s loan-closing fee for all of CIC’s 504 loan transactions to veterans.
In addition, the local, regional and national lenders listed below are participating in CIC's VetLoan Advantage initiative by providing additional credits to help reduce costs for veterans seeking a 504 loan through CIC. Contact us to obtain the name of the VetLoan Advantage point person for our participating partners.
TALK TO US
If you were honorably discharged after military service and are looking for the financing to grow your powerful idea, talk to a CIC lending officer today about the VetLoan Advantage Program. This program is available to small businesses located in Connecticut and Rhode Island.
Apply for an SBA 504 Loan
WORKING WITH CIC TO ASSIST VETERANS
Become a Partner
LENDERS ARE INVITED TO JOIN VETLOAN ADVANTAGE
CIC invites all its lending partners to help strengthen the VetLoan Advantage Program by joining CIC, Neubert, Pepe & Montieth and the partners listed above in offering a special incentive to veterans embarking on their small business journeys. Contact us to get involved today.
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.