Small Office Home Office (SOHO) Loan Program
For limited time, Alternative Business Capital through partnership with the Small Business Administration (SBA) Community Express Loan Program will provide financial, management and technical assistance to the underserved small business community. The SBA does not provide direct government loans or grants. This is joint initiative between the SBA and the National Community Reinvestment Coalition.
Alternative Business Capital commercial strategic lending partners will fund the SBA guarantee loans from $5,000 - $50,000 for start-ups and existing companies based in the U.S. under this special program. Alternative Business Capital, along with SCORE and SBDC will provide Free Technical Assistance for your business.
Benefits of the SOHO Loan
- No Business Plan Required
- No Financial Statement Required
- Free Technical Assistance (SCORE, SDBC, Alternative Business Capital)
- Character-Based Loans (Credit Problems OK)
- No Prepayment Penalty
- Establish Good Business Credit (ACH Payment)
- Approvals in 7 days or less
| Loan Amount | Estimated Payment |
Interest Rate | Loan Term | Package Fee | SBA Fee |
| $5,000 | $89.00 | Prime + 4.75% | 84 Months | $475.00 | WAIVED! |
| $10,000 | $178.00 | Prime + 4.75% | 84 Months | $475.00 | $170.00 |
| $15,000 | $267.00 | Prime + 4.75% | 84 Months | $475.00 | $255.00 |
| $20,000 | $356.00 | Prime + 4.75% | 84 Months | $475.00 | $340.00 |
| $25,000 | $445.00 | Prime + 4.75% | 84 Months | $475.00 | $425.00 |
| $35,000 | $595.00 | Prime + 3.25% | 84 Months | $475.00 | $595.00 |
| $50,000 | $850.00 | Prime + 3.25% | 84 Months | $475.00 | $850.00 |
Business Loan Qualifications
- The SOHO Loan program is designed to increase lending to geographic areas comprising low to moderate income areas, small disadvantage businesses, minorities, women and veterans. Loan proceeds must be used exclusively for business related purposes. The owners and principals must be of good character.
Technical Assistance
- Alternative Business Captial will provide technical assistance to ensure that borrowers receive appropriate pre and post loan closing management and technical assistance. ABC provides the following technical and management services:
| Management Assessment | Business Plan Development |
| Strategic Planning | Credit Counseling |
| Computer / Operational | Financial Management/Cash Flow |
| Inventory Control | Accounting Services |
| Market Analysis | Marketing |
| Sales Training | Bookkeeping |
| International Trade/Export | Personnel/Human Resources |
| Working Capital Management | Legal Assistance |
| Minority Business Certification | Tax Services |
Business Requirements
- Must have a business checking account
- Packaging Fee must come from a verified business checking account
- Personal checks will not be accepted
- Check will not be cashed until your loan is approved and funded
- Loan proceeds will be automatically deposited into your business checking account
- SBA Guaranty Fee will be automatically debited from the loan proceeds
- Monthly payments are ACH from your business checking account the 1st of each month
- Proof of Business Ownership
- License, Articles of Incorporation, Articles of Organization, Permits, etc are accepted
- Clear Copy of Driver's License (proof of identity)
- Complete Business Loan Application
- This is a character-based loan (any false statements will results in an automatic denial)
- Loan will be approved for the highest amount you qualify for based on the bank's scoring system.
- The application must be thoroughly completed to make an accurate loan decision
- The loan is based on a combination of personal credit history and information received on the loan application.
- If loan is declined, you will receive a letter outlining specific reason for denial with instructions to obtain a free copy of your personal credit report.
Other Credit Considerations
- No past bankruptcies or felony arrests (exceptions)
- Good personal credit history required for all principles and guarantors
- FICO Beacon: 520 minimum (exceptions)
- Business must have adequate historic cash flow to cover the proposed debt
- Business debt to net worth must meet industry averages
- Owners/Borrowers must be actively involved in the day-to-day operation of the business
Are You Qualified For SOHO Loan?
Do you need $5,000 - $50,000?
Alternative Business Capital is not a lender. We do not provide sba loans. We are a service provider, consultant and referral source for preferred and certified sba lending partners.