$1,900,000 sba 504 loan for the refinance of a self-storage facility in panama city, fl click for more deals closed 2017 - sba 504 $4,200,000 sba 504 loan for the acquisition of a sports facility in queens, ny click for more deals news get all the latest news and releases here. When you’re ready to purchase your first commercial storefront, acquire land for expanding, need to remodel your current location, or want to build your own customized facility, an sba 504 loan may be right for you.
The sba 504 loan program combines two loans (one from a lender, one from a cdc) that can be used to buy owner-occupied commercial real estate, and other fixed assets like equipment the lender portion covers up to 50% of the loan, the cdc portion covers 40%, and the borrower is responsible for the remaining 10+.
An sba 504 loan is an great financing option for buying commercial real estate and heavy equipment low rates long terms learn about sba 504 loans here. The 504 company is a not-for-profit corporation established in 1981 the 504 company is authorized by the us small business administration (sba) to provide the 504 and community advantage loan programs throughout new york, pennsylvania and new jersey. Sba 504 the sba 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses long-term, fixed rate financing (10-20 years) and reasonable rates (near long-term us treasury bond rates), make the sba 504 an attractive and effective economic development financing tool. Section 504 of the rehabilitation act of 1973 is a federal civil rights law that prohibits discrimination on the basis of disability in programs and activities that receive federal financial assistance from the us department of education.
If you’re looking for a small business loan to purchase commercial real estate or heavy machinery/equipment, the sba 504 loan is the best choice if purchasing a business or getting working capital is the goal, the sba 7a loan is likely the better tool.
The sba 504 loan has many benefits and advantages for business owners, bank partners and communities large or small with the sba 504 loan program, business owners benefit from below market, long-term fixed rate financing.
The sba 504 program helps businesses grow by acquiring and improving major fixed assets, like owner-occupied real estate or heavy equipment through the sba 504 program, black hills community economic development has supported the growth of 1,773 jobs and $213 million of total investment in our region.