Press
For all media contacts, press inquiries or other marketing and advertising matters, please email us or call the main office at 703-352-0504.
Sally Robertson – Moderator for ‘Lending to Underserved Markets’
Our president, Sally Robertson, served as moderator for the ‘Lending to Underserved Markets’ panel during the Small Business Lending Summit, held April 17th in Washington, D.C. at the J.W. Marriott Hotel. The summit attracted approximately 300 attendees, including government agencies, policy makers, financial services and the small business community.
This session included discussions from business owners about how hard it was to borrow and banks who said they want to lend to good risk borrowers. The outcome of the discussion was positive for both business owners and the lending community, with borrowers acknowledging the need to be properly prepared to go to the banker, and with the economy seeing signs of recovery, bankers willing to lend to small business owners.
Business Finance Group Tops SBA 504 Lending in Virginia and Maryland
Fairfax, VA – March 6, 2012 – Business Finance Group (BFG), one of the nation’s 270 Certified Development Companies (CDCs) and the number one lender in the mid-atlantic area, today announced that it was the top lender of Small Business Administration 504 loans among CDCs in the mid-Atlantic during 2011 and in the top 5% in the country by loan volume.
SBA 504 loans are designed to help small business owners get long-term financing for capital assets such as the purchase of real estate and equipment. In most cases, a 504 project includes three funding sources: a first mortgage from a private-second lender that covers 50 percent of the cost, the SBA-504 second mortgage from a CDC that covers 40 percent and 10 percent equity from the borrower. More than 130,000 businesses have obtained SBA 504 loans over the past 25 years, and $50 billion in debentures have been funded, leading to more than $100 billion in small business financing projects.
Sally B. Robertson, President of BFG, said, “Our loan volume was up by more than 10% last year. While our total loan volume was $116 Million, we leveraged that with bank financing to provide $290 million in projects financed for 179 businesses that expect to add nearly 1,800 employees as result of their growth.”
Companies that have strictly commercial loans (no SBA funds involved) may, until late September, refinance their loans using the SBA 504. SBA estimates that as many as 8,000 businesses may participate in this refinancing program during the current fiscal year, which will provide up to $7.5 billion in SBA-guaranteed financing leading to total project financing of almost $17 billion. Recent interest rates have been as low as 4.91% for 20-year SBA 504 refinancing loans.
About BFG
Business Finance Group (BFG) is one of the nation’s 270 Certified Development Companies (CDCs). It is a member of The National Association of Development Companies (NADCO), the trade association for the nation’s CDCs. For more information on obtaining SBA 504 funding, or using a 504 for refinancing a commercial business loan, visit http://businessfinancegroup.org or call 800-305-0504.
View Our President Testifying on the Hill
Fairfax, VA – September 7, 2011 – Business Finance Group (BFG), the leading provider of SBA 504 loans in Virginia, Maryland, the District of Columbia, and West Virginia, today unveiled a transformation of its corporate identity. The new brand is designed to represent today’s BFG, a reliable, service oriented, and quality driven organization that continues to expand its presence as a leading SBA 504 lender.
BFG Client, Handcraft Cleaners & Launderers, Wins 2011 SBA Virginia Small Business Persons of the Year
FAIRFAX, Va., April 13, 2011 /PRNewswire/ — Business Finance Group (BFG), a leading provider of SBA 504 loans in Virginia, Maryland, and West Virginia, today announced that its client, Handcraft Cleaners and Launders, a family run, 54-year old business based in Richmond, Virginia, has won the 2011 Virginia Small Business Persons of the Year Award. Source: Business Finance Group
