The SBA is offering a Community Advantage Recovery Loan Program (CARL),* and Baltimore Community Lending is partnering with Lendistry to help you through the process.
This program is designed…
- For UNDERSERVED COMMUNITIES. These loans are a capital source for small businesses that need it the most.
- With REPAYMENT FLEXIBILITY. No principle or interest payments for the first 6 months.
- And TECHNICAL ASSISTANCE. 15 hours of free online technical assistance is required.
The CARL Program offers loan amounts from $50,000 to $250,000 over a term of 5-10 years. Applicants must have a credit score of at least 660, (or 640 with a 115% real estate guarantee), and be in business for more than 2 years.
*The SBA CARL Program is not taking applications at this time, but we fully expect Congress to extend the program in the very near future. If you apply now, you will be ahead of the pack and ready to go when the funds become available again.
Find out more, including whether you may be eligible, and register your preliminary application request form today. A Baltimore Community Lending Loan Officer will contact you to discuss the details. (Please use Google Chrome for best results.)