A benefit of the SBA 504 Loan Program is that there are no rate adjustments, no increased loan payments, no surprises. Just a predictable payment schedule for the life of the commercial loan. This is just 1 of the many reasons why over 9,200 businesses expanded last year! ๐
For small businesses to grow, they need access to capital. Today, I joined @NADCO504 to discuss the vital role Certified Development Companies play in @SBAgov's 504 loan program, which helps small business owners buy real estate, pay for equipment, and much more.
The SBA 504 Loan Program provides small companies in development areas with guarantees for loans for the purchase of major fixed assets, including real estate and equipment.
The U.S. Small Business Administration (SBA) actually created the 504 Loan Program to offer business owners a more affordable and accessible way to grow and expand. Last year alone, more than 9,200 loans were made to small businesses, totaling $9.2 billion in expansion financing!
The 504 process can be overwhelming when you aren't guided correctly. At Growth Corp, our Loan Officers are here to make every step of the process seamless. ๐ Give them a call anytime with questions!
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Want to learn more about 504? https://t.co/lulW154y9X
The purpose of #SBA504 loans is to improve the economy of local communities and to assist underserved businesses, such as those owned by women, minorities, or veterans; rural businesses; and other designated types of businesses.
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The SBA 504 Loan Program is designed to help business owners be successful. Letโs dive in to the top three ways the 504 does this...
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Are you stuck spending more time working IN your business than ON your business? You may be ready to T.H.R.I.V.E. with the SBA! T.H.R.I.V.E. is a 6-month intensive training program that helps CEOs and Executives get unstuck and take their business to the next level.
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If you are a small business owner, you are probably familiar with the U.S. Small Business Administration (SBA), but, unfortunately, many are unfamiliar with one of its best financing options: The 504 Loan Program ๐ฅ
The program essentially consists of three key elements:
The 504 Loan Program was created by SBA to expand capital access for Americaโs small businesses and fill a market gap in long-term financing. Since the rates are fixed for the life of the loan, and the terms extend as long as 25 years, the 504 is one of the best financing options
Growth Corp is the ๐TOP CDC in Illinois, the๐ largest 504 Lender in Chicago and a ๐top ten 504 Lender Nationwide, but we're still just a small, focused team working together every day to make the 504 process the best it can be!
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Purchasing commercial real estate is a very big step, and for many itโs a once-in-a-lifetime occurrence. Thatโs why we work so hard to make our process as simple as possible! Contact us today to find out how we can help you get quality capital for expansion and new construction.
The SBA 504 Loan Program was specifically created for growing business! If you are looking to Buy, Build or Renovate, give one of our Lending Team Officers a call! https://t.co/LRSGQIadL7.
They will be able to guide you through the process โ ๐
We love our communities and believe small business is the foundation of their economic prosperity. We will do all we can to support you and your business goals. Start-ups to seasoned businesses and everything in between can benefit from working with Growth Corp. โจ
The turn of a new year is a great time to act on those business improvement goals. But you donโt have to do it aloneโฆ the SBA 504 Loan Program is a smart way for businesses to move forward with their growth plans while hedging against inflation and rising interest rates!
Thereโs no time like the present for businesses looking to expand or refinance. And, right in time for the holidays, youโll enjoy the gift of lower interest rates! ๐
The 504 Loan Program is one of the best financing solutions on the market. It provides small business owners with financing for the purchase, construction and renovation of commercial real estate and/or the purchase of long-term machinery and equipment.