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...businesses not be eligible for traditional bank loans.
The maximum loan amount is $2 million, with a maximum loan guarantee of $1.5 million. The maximum guarantee is 85% for loans of $150,000 or less; 75% for loans over $150,000. (A $2-million loan would have a loan guarantee of $1.5 million, or 75%.)
Fees are 1% of the guaranteed portion for loan amounts of $150,000 or less, 2.5% for loans from $150,000 to $700,000, and 3.5% for loans over $700,000. Interest rates vary, but are subject to SBA maximums, which are pegged to...
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