COVID-19 Relief: EDA CARES ACT Recovery Assistance Loan Program

Loan Types

Small Business Loans

504 Loan

The SBA 504 loan program can be used to purchase land, building, machinery and equipment, and can be used for building construction or remodeling.  We partner with your bank to offer long-term fixed-rate financing with low down payments. The SBA 504 can now be used for debt refinance.

Community Advantage Loan

The Community Advantage loan program offers the SBA 7(a) loan for smaller deals in amounts from $25,000 to $250,000 to borrowers that may not be able to obtain another financing.  Loan proceeds can be used for working capital, business acquisition, asset purchases, and start-up costs

Revolving Loan Fund

The Economic Development Administration Revolving Loan Fund offers to finance up to $500,000 for the purchase of land, building, machinery, equipment, inventory, and working capital. These loans can be in participation with your bank or directly from CADDA. The RLF offers competitive rates and terms with low down payments.

Intermediary Relending Program (IRP Loan)

The U.S. Department of Agriculture IRP loan program offers competitive financing to businesses in rural areas for the purchase of land, building, machinery, equipment, inventory, and working capital in amounts up to $250,000.  Borrowers that may not be able to access credit from other sources can get great rates and terms.

May 2022

SBA 504
Loan Rates

25 Year - 5.12%
20 Year - 5.06%
10 Year - 4.93%

Which Loan is Right for Me?

Whether you’re searching for a $10,000 equipment loan or want financing for a $2 million building purchase, there is a good chance we have the right loan product for you. 

Need More Info? Contact Us.

CADDA has a reputation for providing the best service of any CDC in the Coastal Area. We’re committed to constant improvement.  We look forward to hearing from you.

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CADDA is an Equal Opportunity Lender. © Coastal Area District Development Authority. All rights reserved.
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