Micro Loan Program Loans are available for established small businesses with modest credit needs that are unable to obtain bank financing. The loans can have repayment terms of up to five years with a fixed rate of interest and no pre-payment penalty. CDC has been designated as a U.S. Small Business Administration SBA Micro Loan Lender for Nassau and Suffolk Counties. Many of CDC's loan programs emphasize service to minority and woman-owned businesses throughout Long Island. Marketing, Business Planning, Operations and Cash Flow.
Training is provided in English and Spanish.
Call us or send an email for more information. Professionally Managed by CDC Loans are available for established, growing small businesses which lack the capital, collateral or cash flow required for conventional bank financing. Operated in conjunction with and funded by a group of local banks, the program lends up to half the amount required by the business with a second lien on the collateral, with the rest of the financing being lent by one of the participating banks who have a first lien on the collateral. Repayment terms can be as long as 7 years at a fixed rate of interest. Proceeds of the Savings Account and Match Account must be used to enhance the quality of the child care provider's facility.