VEDC is approved by the U.S. Small Business Administration as one of the few community-based, mission-focused lenders to accept and process Community Advantage loan applications from small business borrowers. The SBA Community Advantage program is designed to expand access to lower dollar loans and lending in traditionally underserved communities. The SBA and U.S. Department of Commerce studies have shown the vital impact of small loan amounts to small businesses in promoting economic growth in the most challenged markets.
Community Advantage offers a streamlined application process for SBA-guaranteed 7(a) loans up to $250,000. Advantage loans will come with a SBA 7(a) government guarantee, 85% for loans up to $150,000 and 75% for those greater than $150,000.