Business Finance Group is committed to helping Small Businesses reach their financial goals, giving them the right options to succeed.
504 Loans
SBA 504 loans can be used to buy, build, or renovate commercial real estate properties, or to purchase equipment that has a life expectancy of 10+ years. In most cases, a 504 loan project requires a down payment of 10% of the total project cost. The remaining amount is split between a first mortgage provided by a commercial lender such as your local bank and a second mortgage provided by a certified development company like Business Finance Group.
Community Loan Programs
Many small businesses find that a working capital loan or small equipment loan would allow them to expand their business, but their bank doesn’t make small loans. BFG can make loans up to $250,000. For more information, contact us at
Veteran Loan Incentives
BFG is a proud provider of ‘VetLoan Advantage’ Program, a unique program that offers financial incentives to veterans who are seeking capital to start, grow, or expand a business.
Business Finance Group
also serves Lenders
and Existing Borrowers
FAQs
What is the 504 Loan Program?
The 504 Loan Program is a U.S. Small Business Administration (SBA) funded program that provides financing to small and mid-sized businesses for the purchase of equipment and commercial real estate.
What can 504 loans be used for?
Business owners can use 504 loans for land and building purchases, new construction or renovation, leasehold improvements and purchases of heavy machinery, equipment, and commercial vessels. They can also be used for soft costs such as title searches, attorney’s fees, appraisals, etc.
What advantages does a 504 loan offer?
With low down payments and fixed, low, long-term interest rates, the 504 loan helps businesses retain working capital.
What types of businesses are eligible?
The 504 loan program serves a wide range of businesses. The business must be a for-profit enterprise with a tangible net worth not to exceed $15 million and a net profit after taxes of no more than $5 million during the previous two years. The loans are available to individual business owners or multiple owners partnering on a project.
What’s the maximum amount of a 504 loan?
A 504 loan can fund up to $5.5 million, depending on eligibility and the job creation, community development, and economic development goals met by the project.
How does financing work?
Business Finance Group partners with lenders to provide up to 90% financing on a project. The partner lender typically provides 50% and Business Finance Group provides 40%. The borrower puts as little as 10% down, depending on the project.
HEAR FROM OUR VALUED PARTNERS AND CLIENTS
"Business Finance Group has been instrumental in our growth here at Belmont Peanuts. Our experience with the team was such a success that we secured their help once again for our second business expansion. The professionalism and resources that are offered by BFG are second to none. They will keep you on track, always making sure all documents are provided and your closing will be on time and successful. If you are on the fence in your decision for a 504 lender, I guarantee you will not be disappointed by choosing Business Finance Group."
Robert Marks, Belmont Peanuts of Southampton, Inc.