Nick Pettus, CPA &Associates

Through cooperation with the Valley Economic Development Center located in Van Nuys, we can help you borrow funds for working capital needs and short term to short long term financing in the following ways. Here are the basic programs and ther corresponding general criteria.

Loan Matrix	Mirco-Loan	Community Express Superior Bank & Borrego Springs	Small Business Loan Program	City of L.A. Small Business Loan Program
Loan Amount	$1000 to $50,000	$5000 to $50, 000	$50,000 to $700,000	$45,000 to $450, 000
Eligibility	No b/k, F/C or Repossesions in the last 3 years. Start-ups ok with Business Plans.	At least 51% of the business owners must be minority, veteran, or women. No criminal record nor b/k in the last 3 years. $25,000 to $50,000 must be in business at least 2.5 years.	Business must be located in teh county of Los Angeles	Meet either or a combination of the following public benenfits: Job Creation per $35,000 borrowed and retention; Provide provisions of goods & services for the low to moderate-income communities.
Geographic Region	Los Angeles, Ventura, Orange, San Bernardino, Riverside, Inland Empire, Santa Barbara Counties	Los Angeles, Ventura, Orange, San Bernardino, Riverside, Inland Empire, Santa Barbara Counties	Los Angeles County	City of Los Angeles
Loan Type	Term	Term	Term	Term
Interest Rate	Less than $10,000; 11.25% More than $10,000; 10.00%	Prime + 4.75 up to $50,000, Prime + 3.75	Prime + 3-4%	Ten Year US Treasury Bill + 2 to 4.25 %. Minimum 6%.
Terms	3 to 5 years	10 years for Amounts Below $25,000. 7years for Amounts Over $25,000.	3 -5 years	3/5/7 years with a maximum amortization of 15 years.
Processing Fee	Less than $5,000; $50 Annnual Admin Fee More than $5000; $100 Annual Admin Fee	Superior $450 for $5000 to $12,500. $550 for $13,000 to $25,000. Borrego Springs $425 SBA guarantee fee of 2% of guaranteed amount.	2 -3 % of loan plus out of pocket expenses	3% Origination Fee plus out of pocket expenses
Collateral	Required Approximate 1:1 coverage. Cannot accept out of state real estate or vehicles as collateral.	Unsecured	Required: Approx. 1:1 coverage	Required: Approx. 1:1 coverage
Credit Score	FICO 580+; Credit report is reviewed per transaction	FICO 680+	FICO 580+	FICO 600+