ICFA, Inc.

requires that ALL SOHO Loan applicants (regardless of loan

program) attend a Loan Workshop or on-line Webinar BEFORE
submitting their loan package. PA
TRIOT EXPRESS LOANS ($5k, $10k, $15K, $20K, $25K, $35 or $50k)
are for the following individuals provided that they own/control 51 percent or more
of a business:
• Veteran (other than dishonorably discharged)
• Active Duty Military potential retiree within 24 months of separation and
discharging Active Duty member within 12 months of discharge (TAP eligible)
• Reservist and National Guard
• Current spouse of above or spouse of service member or veteran who died of
a service-connected disability.
The minimum FICO score for this program is currently 600. Funding for PATRIOT
EXPRESS LOANS is approximately 4 - 6 weeks. PATRIOT EXPRESSis a
PERMANENT loan program. There is NO limit on the number of Patriot
Express Loans that can be funded each month.

E
XPORT EXPRESS LOANS ($5k, $10k, $15K, $20K, $25K, $35
or $50k) are for businesses in existence for 12 months or more and are
currently exporting products or services to other countries OR WHO WOULD
LIKE TO BEGIN TO EXPORT products or services to other countries. The minimum
FICO score for this program is currently 600. Funding for EXPORT LOANS is
approximately 4 - 6 weeks. EXPORT EXPRESSis a PERMANENT loan
program. There is NO limit on the number of EXPORT Express Loans that
can be funded each month.

E XPRESS LOANS ($5k, $10k, $15K, $20K, $25K, $35 or $50k) are
available to all entrepreneurs whether in a start-up or expansion stage.
Express Loans require a stronger personal credit history. The minimum
FICO score for this program is currently 700. Funding for the EXPRESS
LOANS is approximately 4 - 6 weeks. EXPRESSis a PERMANENT loan
program. There is NO limit on the number of EXPRESS Loans that can be
funded each month.
 EFFECTIVE OCTOBER 1, 2008 CHANGES MANDATED BY THE SMALL

BUSINESS ADMINISTRATION (SBA) HAVE CAUSED OUR PREFERRED

LENDER TO MAKE THE FOLLOWING CHANGES TO THE COMMUNITY

EXPRESS LOAN PROGRAM (CX):

1. The number of Community Express loans funded each month is limited

to 100 until Community Express becomes a permanent program.

2. Only 5 start-up business will be funded each month.

3. Business Plans are now required at the time of the loan application.

4. SBA requires an evaluation and completion of 4 on-line courses by their

agency BEFORE the loan can be funded.

Our preferred lender is TEMPORARILY SUSPENDING THE FUNDING OF THE

FOLLOWING INDUSTRIES:

 Mortgage
 Limousine
 Apparel
 Consulting
 Trucking

C
OMMUNITY EXPRESS LOANS [CX] ($25K, $35K OR $50K)
CX REMAINS A PILOT PROGRAM AND HAS BEEN EXTENDED THROUGH
DECEMBER 31, 2009. AS A RESULT OF THE PILOT PROGRAM STATUS, SBA
LIMITS THE NUMBER OF CX LOANS THAT EACH LENDER CAN FUND ON A MONTHLY
BASIS. Our Preferred Lender is limited to 100 CX Loans per month. Start-up loans
are limited to 5 CX Loans per month.

➢ EFFECTIVE OCTOBER 1, 2008 SBA REQUIRES BORROWERS TO USE

SBA TECHNICAL ASSISTANCE. THIS REQUIRES COMPLETION OF
SEVERAL ON-LINE COURSES AND ASSESSMENT BEFORE FUNDING
CAN BE MADE BY THE LENDER. SBA may also require additional
technical assistance by their paid resource partners BEFORE loans
are allowed to be funded.

➢ SBA NOW REQUIRES THAT A BUSINESS PLAN BE SUBMITTED FOR

ALL CX LOANS BEFORE THE LENDER IS ALLOWED TO FUND A LOAN.
 ➢ CX Loans for borrowers requesting $25,000 or less do not need to have their
businesses located in a CRA, HUBZone, or to be located in HQ approved
district office markets.

➢ CX Loans of $35,000 or $50,000 will be made to businesses whose principal

office (as defined in 13 CFR 126.103) is located in a HUBZone or Community
Reinvestment Act (CRA) designated area

➢ CX Loans may also be made to businesses located in areas that are approved by
Headquarters-district office initiatives to support a local community/economic
development market

The minimum FICO score is currently 680 for CX Loans.

PLEASE NOTE: Funding for CX LOANS MAY take several months depending
on the completion of the technical assistance requirements by SBA, the
submission of a completed business plan and the RESTRICTED number of
loans allowed to be funded by the SBA each month.

Loan Terms for Community Express, Express,

Export Express and Patriot Express Loans:

 7 Year Term – No Prepayment Penalty

 Interest Rate-Prime + 4.75% for loans of $25K; Prime + 3.75% for loans of
$35K or $50K (effective October 1, 2008)

 NO COLLATERAL

 $575 Packaging Fee for EXPRESS, EXPORT EXPRESS AND COMMUNITY

EXPRESS LOANS. PATRIOT EXPRESS LOANS require a $250 Packaging Fee

NOTE: checks are only cashed IF the loan is funded. If the loan is declined,
there is no fee for applying.

 SBA charges a 2% Guaranty Fee

 $45 contribution is requested (NON-Refundable) to cover overnight, copy and
media costs
 Most Funding in 4 - 6 weeks for EXPRESS, EXPORT EXPRESS and PATRIOT
EXPRESS LOANS.
 COMMUNITY EXPRESS LOANS CAN TAKE SEVERAL MONTHS FOR FUNDING
ALL PAYMENT DUE DATES: THE 1ST OF THE FOLLOWING MONTH AFTER FUNDING.
PLEASE NOTE: DUE TO SBA MANDATE COMMUNITY EXPRESS LOANS ARE LIMITED TO
100 LOANS PER MONTH UNTIL THE PROGRAM BECOMES PERMANENT.
 How Do I Qualify?
The following are some of the criteria assessed when determining loan
approvals:
1. Length of Home Ownership or Rental Home (shows stability — no collateral
needed)
2. Business/Industry Type
3. Personal Credit History (all existing credit obligations must be current)
4. Average Monthly Sales or Estimated Monthly Sales
5. Length of Time in Business

Are There Disqualifiers?

YES! Any of the following will disqualify an applicant: (NOTE: THE KEY TO THIS
LOAN IS THAT YOU MUST BE CURRENT ON ALL PERSONAL DEBT.)

Unpaid Federal or State Tax Liens

Any Unpaid Judgments
Any business that earns 30% or more of its revenue from gaming
Non-Profits do NOT qualify
Multi-LevelMarketing: (i.e. Mary Kay, Herbal Life, etc)
Speculative Real Estate (buying homes, fixing them up and reselling
them)
Adult Oriented Businesses (Clubs, Web Sites, Bookstores)
Assisted Living (Based from a Home)
Student Loans MUST BE CURRENT
All Personal Debt (Rent, Mortgage, Credit Cards and Medical Bills CAN
NOT Appear as 30, 60, 90 days, etc. PAST DUE)

Please NOTE: If you have a criminal record the bank can not fund
a loan.