Benefits of the SBA 504 Program
- Borrower Benefits
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- 90% financing reduces out of pocket expenses
- Below Market 10 and 20-year fixed rates on 504 portion
- Working Capital Preservation
- 9-month Project "Look-back" for projects already in process
- Flexible owner-occupied financing
- Lender Benefits
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- Blended interest rate offered borrower
- 50% loan to value Bank loan
- Quick response time for approval
- Community Reinvestment Act Credit
- Community Benefits
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- 504 puts excess revenues back into the community
- CDC markets program toward minority, women owned, veterans and rural areas to enhance community diversity.
- 504 Program strives to meet Public Policy Goals to enhance the vitality and economic success of a community.
504 Program allows financing for businesses that otherwise would not be able to obtain conventional financing.