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, Sept. 11 from 6 to 8 p.m. in the auditorium of the E. Craig Wall Sr. College of Business Administration.

The SBA Community Express Loan Program provides funding for working capital needs. The application process is quick, and no collateral is needed. Start-ups are acceptable, and most businesses are eligible. Free technical assistance is also provided.

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. Loan approval is based on 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.

The event is free but reservations are required. Call Coastal's Small Business Development Center at 843-349-4009 to reserve a space.