Frequently Asked Questions

Advantage system financial loans. In researching your alternatives for small company financing, you’ve most likely stumble on SBA financial loans.

Advantage system financial loans. In researching your alternatives for small company financing, you’ve most likely stumble on SBA financial loans.

From old-fashioned 7(a) mortgage for the CDC/504 mortgage, these partly government-guaranteed debts promote some of the finest terms and rates on the market. If you’re a startup or business owner with average credit, however, you’ll feeling alienated of the tight requisite required to qualify for numerous SBA financing programs.

Luckily, there was a type of SBA mortgage created particularly for companies in underserved markets—SBA Community Advantage financing. This pilot financing system, housed beneath the bigger 7(a) regimen, is a great option for newer organizations, companies running in typically “risky” sectors, also those had by female, minorities, and pros.

May be the SBA area benefit loan plan right for your enterprise?

We’re here that will help you determine.

Just What Are SBA Area Positive Aspect Loans?

While we stated earlier, SBA people positive aspect debts were a particular brand of SBA mortgage housed under the 7(a) loan regimen. Unlike other kinds of SBA 7(a) financial loans, but the SBA neighborhood positive aspect financing plan try a pilot program—meaning it’s going to operate for a restricted time period, unless it is expanded or made a permanent area of the SBA mortgage software.

This staying said, the SBA neighborhood benefit loan program was made in 2011 to “meet the credit, administration, and technical services requirements of small businesses in underserved markets.” Although initially set to end on March 31, 2020, the pilot https://worldloans.online/payday-loans-ks/ regimen was longer until September 30, 2022.

With this thought, even though SBA people positive aspect financing plan is actually commercially the main 7(a) program—and really does communicate some parallels inside software criteria—overall, this product is different off their SBA financing in many steps.

First and foremost, whereas the majority of SBA 7(a) financing include given by SBA lenders like national, regional, and neighborhood banking companies, SBA society positive aspect financial loans were given by specific loan providers that signed up for this program, often referred to as CA loan providers.

These businesses must apply at getting CA loan providers, but also protect financing portfolios that demonstrate that they’re using enterprises in underserved opportunities.

SBA Area Positive Aspect Financing Program Details

Now that you have a broad feeling of how the SBA Community benefit loan program really works, let’s talk about what these financial loans in fact resemble. In regards down to they, these SBA debts have the appropriate stipulations:

Loan amount: SBA people benefit financial loans are modest SBA financing, available in amounts to $250,000.

SBA-guarantee: The SBA guarantee as much as 85percent with the loan amount for loans of $150,000 or significantly less, so when much as 75percent for financial loans of $150,001 and more.

Rates of interest: Although CA loan providers involve some discernment with respect to interest rate, the SBA sets a max speed on the primary rates plus 6% of these financial loans. Generally speaking, SBA Community positive aspect mortgage rates start from 7per cent to 9%.

Repayment conditions: differs predicated on borrower qualifications and reason for the mortgage; maximum of decade or perhaps the useful longevity of the gear, maximum several years for working capital, and maximum twenty five years the real deal estate.

Charges: SBA society benefit loans requires an upfront SBA assurance fee that can consist of 0.25percent to 3.0percent using the amount borrowed and repayment conditions. The CA lender has many discretion to recharge unique further fees. They have been, however, restricted to a max processing or application fee of $2,500 per SBA information.

Eligible loan reasons: like many SBA 7(a) financing, SBA society positive aspect financial loans can be used for just about any companies purpose—working capital, houses buy, remodeling, products expenditures, loans refinancing, and much more. These debts cannot, however, be used for revolving lines of credit.

Security and private assurance: For financing of $25,000 or less, the CA loan provider is not needed to simply take equity. For financial loans above $25,000, however, SBA instructions state that the lender should proceed with the guarantee procedures they’ve got in position for any other, similarly-sized non-SBA loans. Collateral aside, SBA neighborhood benefit loans requires a personal guarantee.

Clearly predicated on these details, except that the way the loans become given, SBA people Advantage financial loans work rather similarly to conventional 7(a) financial loans. Until now, while neighborhood Advantage financing are just found in modest mortgage sizes, like SBA 7(a) loans, these include extremely desirable—with low interest rates and long repayment terms.

SBA Society Benefit Mortgage Requirement

In the same way SBA Community Advantage debts are similar to SBA 7(a) loans in some tips and different in others, this SBA financing system features both general and program-specific requisite for people to be able to meet the requirements.

What is Telemedicine?

Telemedicine is a service which allows health care professionals to evaluate, diagnose and treat patients using telecommunications technology.

Why should I use GoLiveDoc?

GoLiveDoc offers 24/7 medical consultations with board-certified doctors. You can use our platform from where you live, work or when you travel in the US. We also offer 24/7 behavioral health counseling for no additional fee. Health records are kept private and secure in order to protect your personal information.

How does GoLiveDoc Help?

GoLiveDoc gives you 24/7 access to board-certified doctors through secure online video or phone consultations – anytime, anywhere. GoLiveDoc is a low-cost, convenient alternativ e to Urgent Care visits or waiting several days to get an appointment with your Primary Care Physician for non- emergency medical conditions. Our doctors can diagnose your symptoms, recommend treatment […]

What happens after I complete the checkout process?

Once you have selected your plan and completed the checkout process, you will receive an email with your login credentials for the customer portal. You can use the customer portal to schedule appointments, update your electronic health records, see your consultation history or add dependents to your account.

How much does GoLiveDoc Cost?

The monthly membership fee ranges from $9.95 to $39.95 (depending on the plan you choose). The consultation fee is only $35. You can cancel your membership at any time for any reason.

If I have insurance, do I still need to pay the membership fee?

GoLiveDoc charges all members a small monthly fee.

How do I cancel my membership?

You can cancel your membership at any time for any reason. To cancel your membership, please call (888) 386-1037 or send an email to [email protected]

Does a patient have to meet with a provider in-person before a telemedicine consultation can be scheduled?

No, an in-person visit is not required before a visit can be conducted via telephone or video.

What does GoLiveDoc Treat?

We treat a variety of medical conditions. Common conditions we prescribe medication for are Cold & Flu, Pink Eye, Skin Irritation/Rash, Urinary Tract Infection, Diarrhea, Stomach Virus, Fever, Headaches and Sore Throat.

Are there Medical Conditions GoLiveDoc Cannot Treat?

There are some medical conditions that our doctors are unable to treat, including but not limited to: Broken Bones, Chronic Diseases, Erectile Dysfunction, Genital Herpes, Hair Loss, Hot Flashes, Premature Ejacuation, Smoking Cessation, STD Testing.

Can I be turned down for a pre-existing condition?

No, members are not turned away because of pre-existing conditions. GoLiveDoc is not an insurance.

Can GoLiveDoc Treat Emergencies?

GoLiveDoc Is Only For Non-Emergency Medical Issues Members Should Not Use It If They Are Experiencing A Medical Emergency. Please Dial 911 If You Are Having A Medical Emergency. GoLiveDoc Is Also Not Intended To Replace A Member’s Primary Care Physician.

Is GoLiveDoc For Emergency Situations?

GoLiveDoc Is Only For Non-Emergency Medical Issues Members Should Not Use It If They Are Experiencing A Medical Emergency. Please Dial 911 If You Are Having A Medical Emergency. GoLiveDoc Is Also Not Intended To Replace A Member’s Primary Care Physician.

Can I use it for my family?

The primary member and 7 immediate family members or household members will have access to consults. 

Do I talk to “real doctors”?

Yes. Members only talk to actual doctors who are state-licensed family practitioners, primary care physicians, internists and pediatricians. When members request a consult, they will be connected with a doctor licensed and practicing in their state.

What Type Of Doctor Or Specialist Can I Speak With?

Members Can Talk To A Doctor Directly. Our Doctors Are Licensed In Internal Medicine, Family Medicine And Pediatrics. A Doctor May Also Provide Guidance On The Type Of Specialist A Member Should See.

Can GoLiveDoc prescribe medications?

Yes, GoLiveDoc can prescribe medication for non-controlled substances. A list of controlled substances can be found here.

Are there Medications GoLiveDoc Cannot Prescribe?

We do not prescribe controlled substances and medications that would require in-person examinations, e.g. Antidepressants, birth control, medical marijuana, stimulants such as Adderall and Ritalin, narcotics or sedatives. Our Counselors cannot prescribe medications for mental health purposes.

Does GoLiveDoc Offer Access To Mental Health Professionals?

All Membership Plans Include 24/7 Behavioral And Mental Health Counseling. All Of Our Counselors Have A Master’s Degree And At Least 12 Years Of Experience.

Is there an extra fee to access mental health professionals?

There is no additional fee to speak with mental health professionals.

How does GoLiveDoc handle bloodwork, imaging, labs and other tests?

You can upload all bloodwork, imaging, labs and other tests to our secured portal for our doctors to view to help with diagnosing and treating your medical conditions.

Is My Electronic Health Record Kept Private?

Health Records Are Kept Private And Secure In Order To Protect Members’ Personal Information. Only Members Can Determine Who Can See The Information In Their Records.