Definition Certified Loan Program CLP

Certified Loan Program CLP definition
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SBA Loan Terms: Certified Loan Program CLP

Under these programs, lenders are given partial or full authority to approve loans, which results in faster service from SBA. Only those lenders qualify for SBA’s streamlined lending programs, which are heavily involved in regular SBA loan guarantee processing and have met some other criteria. . They receive a partial delegation of authority and are given a three-day turnaround by the SBA on their applications (they may also use regular SBA loan processing). Certified lenders account for nearly a third of all SBA business loan guaranties.

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Definition: Certified Loan Program CLP - Small Business Loan Forms / Application

Start up companies in every industry are always seeking capital to open or expand their company. This is a challenge as many of these entrepreneurs have no prior business experience or credit and have been turned down by typical bank programs. There are also small business programs designed for minority and woman-owned businesses and startups.

When your bank says no - Go find another business bank -

Section 7(a) of the Small Business Act, authorizes the Agency to provide business loans to American small businesses. CDCs work with the SBA and private-sector lenders to provide financing to small businesses.
These programs are designed for start-ups or existing businesses. SBA generally requires that the owner(s) inject 1/5 to 1/3 of the total funds needed to launch a new business. Maturities up to 25 years based on life of assets financed.

Small Business Administration was formed in 1953 as an independent agency of the federal government to help America's entrepreneurs form successful small enterprises. There are SBA program offices (providing small business loan assistance and information) in every state offer financing and training for both small businesses and start up companies.

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SBA Loan Terms / Corporate Finance - Define: Certified Loan Program CLP - ©2004 HJ Ventures International, Inc.