Mission Spotlight

Glatte Inc.

Glatte Inc.’s SBA Community Advantage Loan from Growth Capital left a big impact on the company.

Program Highlights

Fixed Asset Financing

  • Maximum Loan Size: $250K
  • Maximum interest rate: Prime + 6%
  • Management and Technical Assistance available when requested

Eligible Businesses

For Profit Businesses

  • Manufacturing, Distribution, Wholesale , Commerce, and Service companies

Use of funds

  • Purchase, new, existing commercial buildings (owner-occupied)
  • Expand or modernize facilities, purchase machinery, equipment, fixtures, and leasehold improvements
  • Finance increased receivables and augment working capital, or inventory
  • Debt refinance

Cash Flow

  • Debt service coverage ratio on a consistent basis
  • For business expansions, historical debt service coverage must provide 1 to 1 coverage with reasonable projections in line with industry RMA standards
  • Underwriting will identify and include all reasonable add backs provided they can be documented

Collateral Coverage

  • Collateral Advance rates as required/quoted by the SBA
  • When loan proceeds are used to purchase assets a first lien position in those assets must be obtained.
  • When loan proceeds will be used to refinance existing debt the loan must be secured with the same collateral
  • SBA requires one to one coverage on collateral

Please call John Kropf or Kate Kerr at (216) 592-2332 for more information.

Contact Us

The Community Advantage Loan Program helps to increase access to credit for small businesses.

Call us today about the Community Advantage Loan Program

(216) 592-2332

  1. Receive Loan Referral
    Borrower or Bank, CPA or other Referral agent reaches out to Growth Capital Loan Prospect.
  2. Eligibility Review
    Growth Capital ensures loan is eligible for SBA financing and obtains SBA Credit Score.
  3. Underwrite Loan
    Obtains documents from borrower and works to approve the loan.
  4. Loan Committee
    Growth Capital loan officer presents loan request to Growth Capital loan committee.
  5. SBA Authorization for Final Approval
    Customer signs application and Growth Capital obtains SBA Authorization.
  6. Loan Closing
    Growth Capital obtains documents from borrower to commence closing.
  7. Borrower is Funded through Growth Capital Loan Funding
    Growth Capital disburses loan funds to borrower.