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SOHO Loan
Intro | PACE SBA Micro Loan | SBA Financing | SOHO Loan | Workshops
The Small Office/Home Office (SOHO) loan is a product developed by Innovative Bank to promote the Small Business Administration (SBA) Community Express loan program. This loan program provides financial assistance, capital access, technical and management assistance to the underserved segment of the small business community. A SOHO loan offers the potential qualified small business owner financing that ranges from $5,000 up to $50,000 (Community Express minimum loan amount is $15,000). All loans carry an 84-month term, no pre-payment penalty, minimal paperwork, technical assistance, and quick turnaround time. Variable interest rates are tied to the new Prime Rate published in the Wall Street Journal plus the Innovative Bank spread of 4.75% or 3.75%, depending on the amount of the loan. For more information please go to www.innovativebank.com for details.
SBA views management and technical assistance as critical to the development, growth, and success of the potential borrower. The program is structured to ensure that borrowers receive appropriate pre- and post-loan closing management and technical assistance. PACE BDC is an approved technical assistance provider for the SOHO program. To schedule an appointment with one of our loan officers to apply for the SOHO loan call us at 213-353-9400 or email bdcinfo@pacela.org.
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