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SERCAP’s Small Business Loan Product

Southeast Rural Community Assistance Project, Inc.’s (SERCAP), a Certified CDFI (Community Development Financial Institution), provides Small Business Loans of up to $100,000.00 to small businesses in rural communities with populations of 50,000 residents or less. Eligible uses of SERCAP’s Small Business Loan Product, includes: Working Capital, Inventory, Property Acquisition, Financial Management Systems, and more.

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Eligibility Requirements

In order to qualify for SERCAP’s Small Business Loan, businesses must meet the following criteria:

Existing Businesses may borrow:

Up to $100,000.00 if they have been in business for at-least three (3) years, or are working with their local Small Business Development Center (SBDC).     

Start-up Businesses must work with their local Small Business Development Center (SBDC) or receive business development services from SCORE or SERCAP to be eligible 
for funding. 


Loan Terms and Fees

SERCAP’s Small Business Loan Product includes the following loan terms and fees:

  • Loan must be secured with sufficient collateral
  • First lien on any asset purchased is required
  • Personal Guarantees will be required from principal owners with an ownership position greater than 10%
  • Interest Rate is Prime
  • Personal Credit Report Fee**, per applicant
  • Business Credit Report Fee**
  • 10 Year Term
  • $600 Loan Application Fee*
  • 2.5% Loan Origination Fee*
  • Applicant is responsible for paying Legal Fees* associated with Loan Closing

*Fees may be rolled into the Loan, if sufficient funds are available.

**Credit Report Fees are Determined by Credit Report Vendor, and are subject to change. 

Note: Only Credit Report Fees are needed to Process Applications; remainder of fees are incurred at loan closing. 

 

For more information about SERCAP’s Small Business Loan Product, contact SERCAP’s Loan Fund at:

Email: sbloans@sercap.org     
Phone: 540-345-1184    
TTY: Dial 711