Podcast: Download (Duration: 2:39 — 3.9MB)
Are you part of a non-profit organization in California seeking financial aid for property acquisition? Beau Eckstein, a seasoned lending expert with over 20 years in the industry, sheds light on a game-changing alternative – the California State Guarantee Program.
Non-Profit Financing: Breaking Down SBA Limitations
The blog begins with a query from Maria, responsible for a non-profit program and seeking financial assistance for property acquisition. Discovering that non-profits usually don't qualify for SBA financing, the transcript unveils an intriguing workaround.
For-Profit Division or State Guarantee Program: A Way Forward
Beau unveils an alternative pathway: if a non-profit has a for-profit division under a separate entity, SBA financing becomes a possibility. Alternatively, the California State Guarantee Program emerges as a promising solution. This state-run program, administered by ibank and involving multiple banks, mirrors an SBA loan structure, benefiting non-profits akin to CDC's small business finance divisions.
Advantages of the State Guarantee Program
- Inclusive Nature: Unlike the SBA, this program opens its doors to non-profit entities, extending the same guarantees and assistance.
- Diverse Eligibility: The program's accessibility extends beyond traditional borders, accommodating foreign nationals and various entities.
- Cost Efficiency: Beau emphasizes the slightly lower financing costs of the state guarantee program compared to the traditional 504 loan, making it a financially appealing option.
Navigating the Program and Beyond
Beau invites Maria and others intrigued by the program to explore its intricacies. The lending expert expresses a willingness to guide non-profits through the state guarantee program, addressing specific concerns and providing support.
Furthermore, Beau highlights the potential of leveraging a non-profit's for-profit division to facilitate property acquisitions, showcasing a personalized approach to financing solutions.
Beyond SBA: A Panoramic View of Financing Options
The blog doesn't limit itself to the state guarantee program. Beau extends a helping hand to navigate through different financing options, including SBA's 7A or 504 loans. The lending expert's vast experience ensures comprehensive guidance, whether it's for startups, franchise acquisitions, or expansions.
Conclusion: Empowering Non-Profits through Alternative Financing
In conclusion, the California State Guarantee Program emerges as a beacon of hope for non-profits seeking financial assistance. Beau's expertise and dedication to assisting non-profits in navigating complex financial terrains position this alternative as a pivotal solution for property acquisitions and business expansions.
Ready to explore financing avenues tailored for non-profits in California? Beau invites you to book a call to delve deeper into the state guarantee program and other tailored solutions. Find the scheduling links below the video to kickstart your journey towards financial empowerment.
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