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The Ins and Outs of the 302 Loan Program

Small businesses often find it difficult to secure the financing needed to grow and expand. 300 loan bad credit. This is where the 302 loan program comes in. The program was established by the Small Business Administration (SBA) to provide long-term, fixed-rate financing to small businesses for the purpose of acquiring equipment, expanding facilities, or funding real estate projects. In this article, we will delve into the ins and outs of the 302 loan program.

What is the 302 Loan Program?

The 302 loan program, also known as the Certified Development Company (CDC) program, is a long-term financing solution for small businesses. It provides funding for fixed assets, such as land and buildings, as well as machinery and equipment. The program is administered by the SBA, which partners with CDCs to provide financing to small businesses.

The 302 loan program involves a three-way partnership between the SBA, the CDC, and the small business borrower. The SBA guarantees up to 85% of the loan, while the CDC provides up to 40% of the financing, and the borrower contributes a minimum of 10%.

How Does the 302 Loan Program Work?

The 302 loan program is designed to help small businesses acquire assets for growth and expansion. The program provides long-term, fixed-rate financing that is repaid over a period of up to 20 years. The funds can be used for a variety of purposes, including:

The borrower must work with a CDC to apply for a 302 loan. The CDC will review the loan application and work with the borrower to develop a comprehensive financing package. The SBA will then review and approve the loan. Once approved, the funds will be disbursed to the borrower.

Benefits of the 302 Loan Program

The 302 loan program offers many benefits to small businesses, including:

Qualifications for the 302 Loan Program

To qualify for the 302 loan program, the small business must meet the following criteria:

Additionally, the borrower must be able to demonstrate that they have the ability to repay the loan. This is typically done by providing financial statements and other documentation to the CDC.


The 302 loan program is a valuable financing option for small businesses seeking to grow and expand. The program provides long-term, fixed-rate financing that is repaid over a period of up to 20 years. With a low down payment and fixed interest rate, the program is an attractive alternative to traditional bank loans. If you are a small business owner in need of financing, consider exploring the 302 loan program as an option.

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