What does the breakdown of a record number of loans look like for the #1 SBA 504 Lender in Eastern Pennsylvania? For Seedcopa, it means partnering with more lenders than ever before – on projects totaling more than $115 million.
- Seedcopa supported 46 small business borrowers, totaling $43,501,000 to purchase, expand and grow commercial properties in fiscal year 2021
- Total projects of more than $115 million
- 19 banks partnered with Seedcopa to make the loans possible
- 35% of businesses assisted were minority owned, women owned or veteran owned
- 15 counties (almost doubled from 2020): Allegheny, Berks, Bucks, Camden, Chester, Clearfield, Cumberland, Dauphin, Delaware, Lancaster, Lehigh, Montgomery, New Castle, Northumberland and Philadelphia.
- The 25-year fixed interest rate remains around 3%
More than one-third of SBA 504 loans (38%) were for commercial real estate purchases with no construction or improvements. 15% were for real estate purchases with minor improvements. 15% were for refinances, taking advantage of the incredibly favorable debt refinancing rules now in effect.
A complete listing of Seedcopa’s suite of loan programs and success stories can be found at https://seedcopa.com/