Cent Banc is proud to be at the forefront of supplying Covid-19 affected small business owners the working capital they need to keep their doors open, retain employees, and cover operating expenses throughout this devastating pandemic.

Many small businesses are led to believe that banks and the SBA are handing out “free money”, and that the process can be completed with a simple 10-minute application online. While this would be ideal, it is simply not the case.

Congress continues to deploy stimulus packages designed to assist small businesses, but guidelines and requirements are still being implemented as lenders and small business owners digest over 1,000 pages of legislation. For most applicants, understanding and structuring the various disaster funding sources in an optimal manner can be confusing, time consuming, and inefficient.

Submitting an online application for Economic Injury Disaster Loans is only the beginning. While the SBA’s online application appears quick and easy, it simply registers your contact information for a Loan Officer to contact you later and there are extensive documentation requirements that follow once your initial “application” is processed. This may include extensive business financial statements, personal financial information, income and expense projections, and more.

From start to finish, your loan approval process may take 3-4 weeks of involvement. For most small business owners, this is prohibitively time-intensive when there are other urgent matters to attend to that will immediately impact their ability to remain in operation.

Up to $2,000,000

Up to 30 Years

3.75%

Dependent on SBA Processing Times