We recently announced that the U.S. Small Business Administration has ranked Seedcopa number one for SBA 504 lending in Eastern Pennsylvania. But what does the breakdown of those loans look like?
- -Seedcopa supported 27 SBA 504 loans totaling $24,358,000 in fiscal year 2020
- -Projects totaled more than $65 million
- -16 banks partnered with us to make the loans possible
- -6 of the 27 businesses assisted were women owned = 22%
- -Average 25-year fixed interest rate for fiscal year Oct. 2019-Sept. 2020 was 3.03%
- -The loans covered nine counties: Berks, Chester, Cumberland, Delaware, Lackawanna, Lancaster, Lehigh, Montgomery and Philadelphia.
- -Seedcopa also assisted with 577 loans totaling $58,175,967 with the Paycheck Protection Program (PPP)
“Ranking number one in a service area that spans about half of Pennsylvania is indeed a great honor for Seedcopa and the bank partners we work with,” said Sherwood Robbins, Managing Director of Seedcopa. “We want to thank the many banks that helped us make sure businesses could benefit from the lowest SBA 504 interest rates in history during these difficult times.”
“It’s great to have the opportunity to recognize the accomplishments of SBA Certified Development Companies like Seedcopa,” said Steve Dixel, U.S. Small Business Administration Eastern Pennsylvania District Director. “CDCs like Seedcopa provide capital for small businesses to engage in job creation and community development through the SBA’s 504 loan program.”
A complete listing of Seedcopa’s suite of loan programs and success stories can be found at https://seedcopa.com/