CDC Small Business Finance Business Loans Review

CDC Small Business Finance Business Loans is a business financing offering by CDC Small Business Finance, based in San Diego, CA. Founded in 1978, CDC Small Business Finance offers access to business loans in 3 states across the USA.

What are CDC Small Business Finance Business Loans’s rates?

CDC Small Business Finance Business Loans offers a fixed APR business financing product but they do not disclose their rates.

Does CDC Small Business Finance Business Loans charge an origination fee?

Yes, CDC Small Business Finance Business Loans charges a loan origination fee starting at 0% of the loan amount. CDC Small Business Finance Business Loans deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does CDC Small Business Finance Business Loans set on the purpose of the loan?

CDC Small Business Finance Business Loans considers loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of business loans does CDC Small Business Finance Business Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. CDC Small Business Finance Business Loans provides access to the following business loan types:

• Secured Term Loans
• SBA Loans
• Commercial Real Estate

Does CDC Small Business Finance Business Loans charge prepayment fees?

Yes, CDC Small Business Finance Business Loans charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from CDC Small Business Finance Business Loans?

Loan amounts start at $10,000 and go up to $2,000,000.

What is the maximum loan term you can get with CDC Small Business Finance Business Loans?

CDC Small Business Finance Business Loans offers business loans with terms ranging from 36 to 300 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for CDC Small Business Finance Business Loans?

CDC Small Business Finance Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses must have a minimum annual revenue of $7,600 to be considered.

Applicants with a credit score of at least 640 and up to 850 may be eligible for CDC Small Business Finance Business Loans.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the CDC Small Business Finance Business Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by CDC Small Business Finance Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity