What is an SBA 504 loan?
SBA 504 loan program (also referred to as the CDC/504 Loan Program) was developed to encourage healthy businesses to expand and create jobs. It is a low down payment, long term, fixed rate loan program for the acquisition of real estate or equipment. With a lower down payment (typically 10%), a below market fixed rate, and a twenty year term, the business retains working capital to help fuel growth. The success of the program is highlighted in the following statistic: For every dollar of SBA program cost, $94 in federal, state and local tax revenues are returned.
What is a CDC?
A Certified Development Company (CDC) is an entity approved by SBA to provide 504 loans. Typically, CDCs are nonprofits as is BFG. We partner with private sector lenders to provide 504 loans to small businesses.
Business Finance Group (BFG) is an award winning and top producing CDC in the mid-Atlantic market. We assist businesses in Maryland, Virginia, Washington, DC and the eastern panhandle of West Virginia
Why a 504 and Business Finance Group?
- Our team is experienced, seasoned and dedicated to working with you every step of the way. From application, to processing, to closing and servicing your loan, our staff will help you navigate the process, avoid problems and ensure smooth processing.
- We have proven 504 tools and processes in place. Our insight, experience, long-term lender partnerships, and award winning team, are all designed to get you the financing you need, and help your company grow and prosper.
- We know the industry and know how to work with the SBA. We have helped 2,100+ businesses finance $3 + billion in projects.