Coastal Carolina University's Small Business Development Center is sponsoring a free U.S. Small Business Administration (SBA) Community Express Loan workshop for entrepreneurs on Tuesday, May 1 from 5 to 9 p.m. The workshop will be held in the auditorium of the E. Craig Wall Sr. College of Business Administration. The event is free but reservations are required.

The SBA Community Express Loan Program provides funding for working capital needs. The application process is quick and simple and does not require a business plan, tax returns or financials. No collateral is needed. Start-ups are acceptable and most businesses are eligible. Free technical assistance is also provided for each borrower.

If approved, loans are between $5,000 and $25,000. Payments are at the rate of $74 per month for every $5,000 borrowed, with no prepayment penalty. The decision is made after an evaluation of the applicant's personal credit report, gross income or projected income, length of time in business, and the nature of the business.

Call Coastal's Small Business Development Center at 843 349-4009 to reserve a space.