SBA Community Advantage Loan Program

FACC is among a select group of Small Business Administration (SBA) lenders in the nation to offer the Community Advantage Loan Program, which is designed to encourage business growth and the creation of additional jobs. As part of this program, FACC funds long-term loans of $50,000 to $250,000 to both start-ups and established Wisconsin businesses.

With low down payments and flexible collateral requirements, SBA Community Advantage loans can help grow your business when you can’t qualify for conventional financing. Since the SBA provides FACC with a guarantee on a portion of the loan amount, this credit enhancement may allow for a favorable credit decision. Applicants, however, must clearly demonstrate an ability to pay back the entire loan amount.

Community Advantage loans are available to for-profit businesses that meet the SBA’s small business size definition. The funds can be used for:

  • Working capital
  • Furniture/fixtures, machinery, and equipment
  • Renovation, purchase, or construction of land or building
  • Leasehold improvements if the building is 100% borrower occupied
  • Business acquisition
  • Refinancing of debt for compelling reasons

SBA Microloans

FACC is proud to be an SBA Microloan lender — we were the first NCDFI in the nation to earn the honor. The Microloan program provides loans up to $50,000 to help small businesses start up and expand. The average Microloan is $13,000. The SBA provides funds to specially designated intermediary lenders, who are nonprofit community-based organizations with experience in lending as well as management and technical assistance. Intermediaries, such as FACC, administer the program for eligible borrowers.

Microloans can be used to rebuild, repair, enhance or improve a small business. The funds can be used for a variety of purposes, including working capital, inventory, supplies, furniture, fixtures, machinery and equipment. They cannot be used to pay existing debts or to purchase real estate.

SBA Community Navigator Pilot Program

The Small Business Administration utilizes its Community Navigator Pilot Program to engage with states, tribal and local governments, SBA resource partners and other organizations in targeted outreach for small businesses in underserved communities.

The program offers funding to nonprofits, state and local governments, universities and tribal entities using a hub and spoke network. The First American Capital Corporation is a spoke within Oweesta Corporation’s hub and serves as “the boots on the ground” that will connect small businesses to critical resources and assistance during the continuing economic recovery including:

  • Financial assistance and access to capital
  • Contracting and procurement
  • Marketing, operations, business development and exporting
  • Industry-specific training

Being named a “spoke” in the Community Navigator Pilot Program recognizes FACC’s role as a trusted, culturally knowledgeable local group, connecting specific sectors of the entrepreneurial community with the assistance they need.

Contact FACC at 414.604.2044 for more details and information about its SBA programs.