Revolving Lines of Credit up to $25,000

Eligible Use: To provide existing businesses (that have at least 12 months of sales history) with short-term working capital financing. Receivables financing and contract financing are considered.

Loan Size: The minimum line of credit amount is $5,000 and the maximum is $25,000.

Terms: No more than 12 months with a clean-up period. That is, the credit must be paid off in full and retired for at least thirty days prior to Community Capital approving a renewal.

Disbursements: Disbursements and repayment must be tied to verifiable accounts receivable and/or contracts equal to or more than the line of credit disbursement.

Repayment: In most cases, interest payments will be made on a monthly basis. However, in some cases, the Loan Committee may approve a customized schedule of principal and interest payments. No prepayment penalties shall apply.

Interest Rates A fixed interest rate at day of closing at Wall Street Journal Prime plus 4%.

Closing Costs and Fees The Borrower will be responsible for all applicable legal and loan closing fees, including but not limited to fees associated with any appraisals or legal opinions as required by Community Capital for loan approval. A 1.5% holding fee based on the maximum Line of Credit requested due and payable at closing. In addition a 1% origination fee will be charged. Additionally, a renewal fee will be charged amounting to 1.5% based on the maximum Line of Credit.

Other Fees: Click here for Community Capitals Fee Schedule.