The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization. If your organization is designated by the SBA as a CDC authorized to issue 504 loans, use this page to access SBA forms, get program updates, and more. From our experienced team of Business Development Officers, to our knowledgeable and responsive underwriting and loan services professionals, all our resources are in-house, in place and focused on our clients. Choose your CDC partner wisely. Checklist for CDC/SBA 504 Loan CDC Contact Person: _____ Telephone: _____ Name of Borrower: The Following Must Be In File for SBA Submission: _____ 1.CDC Application, along with a detailed history and description of the business. Any licensed attorney can close an SBA 504 Loan. There are three partners in an SBA 504 loan—the borrower, a bank or other regulated lender, and a CDC. Small Business Loan Questions? SBA 504 Loans . sba504.loans is an independently owned and operated website and has no government affiliation. … Capital CDC tops list of SBA 504 CDC lenders Ranked by 2014 504 CDC lender: Dollar amount Locally Researched by: Patricia Rogers, Austin Business Journal Dec … Fountainhead SBA 504 “The Wealth Creator” Our SBA 504 loan program is designed to help your business create wealth by purchasing your commercial real estate. An SBA 504 loan is a 10-percent down, fixed-rate, long-term loan designed to expand capital access - filling a market gap in long-term financing for America's small businesses. Its professional staff works directly with you to tailor a financing package that meets program guidelines and the credit capacity of your business. The SBA, however, in an effort to speed up the review of 504 loan closings, instituted the expedited closing procedure for closing attorneys to build expertise, receive training and … All SBA 504 loans are funded using the same market sale process, so interest rates in any given month are the same nationwide…regardless of CDC. Learn More. Minority Entrepreneur Taps SBA Funding to Build Community Through Coffee, Culture and Connection in South L.A. CDC Small Business Finance Privacy Policy. A Certified Development Company (CDC) is a private, nonprofit corporation set up to contribute to the economic development of its community. We’d be happy to show you how Capital CDC can be the right resource for you and your 504 customers. and policies that elevate and expedite the SBA 504 loan experience. That is, you can only work with a lender that works with the CDC you are using. The 504 program can be used to refinance non-SBA guaranteed debt and generate working capital for a business. Many of the relief provisions elevate the SBA 504 program to be an even more attractive loan product in the current environment. The SBA loan payment subsidy will be implemented. SBA 504 loans allow commercial lenders to provide enhanced fixed asset financing to its clients by enabling small businesses to borrow up to 90% of the total project costs. Your CDC Small Business Finance SBA 504 team has identified key information and benefits of the new Covid Relief/Stimulus Bill to help you stay informed. SBA 504 borrowers with monthly payments over $9,000 will receive a future communication from us with a step by step guide on how to pay the balance. Comment document.getElementById("comment").setAttribute( "id", "a3cddce2f2146689cc358c6468e20e86" );document.getElementById("hea15629a3").setAttribute( "id", "comment" ); Get the latest small business news and updates from our team once a week. When taking out most any type of loan, you must do your due diligence in choosing a lender. You should consult your own professional advisors for any such advice. It is possible that some of the information on this website, on linked pages and attachments (collectively, "Information") has been superseded, modified or is no longer accurate. We can either prepare two 504 loans: one with a 20-year loan for the real estate and another with a … Any action you take based upon the Information is strictly at your risk and based upon your decision and we will not be liable for any losses or damages in connection with the Information. Each SBA 504 Loan that is approved must be closed with the assistance of an attorney who provides the mandatory opinion of CDC counsel. Long-term, fixed rate financing of up to $5 million for major fixed assets SBA 504 LENDERS Bank on Accountability torreypinesbank.com Torrey Pines Bank, a division of Western Alliance Bank. Your Loan Representative is Hannah Snowden. : Since it is fixed-cost and long-term as well as SBA-backed, the 504 is one of the best financing options available for small business owners today. The 504 Loan Program is the first national financing program … We are not the Small Business Administration and are not a lender. Seek opportunities within your current portfolio and with your prospects to market the program, Identify who might benefit from the new provisions and get those applications started, We highly recommend you stay in close contact with one of our, Elimination of 0.5% Third Party Lender fee (also known as SBA participation fee), Elimination of 1.5% CDC Fee in debenture pricing offset with appropriation to pay the CDC, Advantage for existing 504 lenders to help clients in portfolio looking to release working capital and, During the 1-year period following enactment of the law, a CDC can process a cash-out subordination tore-leverage the TPL loan to a total 90% loan to value (LTV) when combined with the outstanding balance on the existing 504 loan. … Working with qualified lenders, Capital CDC provides up to 90% financing for commercial property purchases and new construction and, … OURS COME WITH ACCOUNTABILITY. If you are trying to reach the SBA click … REGARDING SBA 504 LOAN CHARGES & REQUIREMENTS SBA SECTION 504 ASSISTANCE AGREEMENT The following disclosures apply to the United States Small Business Administration’s (SBA) portion of the permanent “take-out” financing (called the “debenture”) provided by Lift Fund (The “CDC”) under the SBA 504 Loan Program. sba504.loans is an independently owned and operated website and has no government affiliation. This field is for validation purposes and should be left unchanged. Is it possible to purchase real estate and equipment at the same time using the 504 Loan Program? The SBA 504 Loan Program assists small business owners in the purchase of commercial real estate or machinery/equipment. Your email address will not be published. We discuss credit in the section of this site dedicated to SBA 504 loan rates. SBA 504 loans typically include three entities: The borrower, the SBA certified development corp (CDC) and a bank, referred to on ABJ lists as the third-party lender. As part of CDC Small Business Finance, the #1 SBA 504 lender in the nation, Chris can be trusted with your SBA deals. The fees are based on 40% of the project cost. EVERY BANK HAS BUSINESS ACCOUNTS. Get a Head Start on the Opportunities Ahead: We highly recommend you stay in close contact with one of our SBA 504 Loan Experts for the latest details. Your CDC … CDC New England’s partner, BDC Capital, allows us to offer a suite of other financing products to complement the SBA 504 Program, including asset-based lines of credit, term loans, mezzanine investments, and bridge and down payment financing. All loans to be refinanced must be at least 24 months old and in good standing for the previous 12 months. For media inquiries, email press@cdcloans.com. The CDC/504 loan program is a long-term financing tool for economic development within a community. With that being said, not all franchises will qualify. The summary below provides you a roadmap. Go to Next Section; Plan your business; Market research and competitive analysis; Write your business plan; Calculate startup costs; Fund your business; Buy an existing business or franchise; Launch your business; Pick your business location ; Choose a business structure; Choose your … Fountainhead SBA 7(a) – “The Growth Generator” Our SBA … Your email address will not be published. Choosing the Right Lender for an SBA 504 Loan. We recognize those that have partnered with us over the course of the past year, and encourage small business owners to contact one of these lenders for their SBA 504 third party lender loan. Details are coming: As a CDC Small Business Finance borrower, you will receive a letter from us with the SBA payment relief details specific to your SBA loan and industry. Loans through the 504 Program can finance 90 percent (504 … You need to find either a lender that offers 504 loans, or a CDC in your area that can connect you with such a lender. Fees associated with an SBA 504 loan are added to the loan amount allowing you to amortize their cost over the term of the loan. An SBA 504 loan package is a collaboration between a bank, a certified development company (CDC) and a small-business owner. The 504 Program provides small businesses requiring “brick and mortar” financing with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. Required fields are marked *. The 504 loan can include: acquisition of the commercial real estate, renovation of the commercial real estate, new construction, and/or heavy equipment. The List: Top SBA 504 CDC lenders Ranked by 2016 Local CDC 504 dollar amount Locally Researched by: Patricia Rogers, Austin Business Journal Dec 01, 2017, 5:00am CST Revised: Dec 01, 2017, 2:35pm CST The Information does not constitute legal, tax, financial or advice of a professional nature; it is provided for informational purposes only. Review the major activities you regularly perform in the CDC/504 program and the SBA tools you use. Fifty percent of these funds come from the commercial lender, 40% come from Ameritrust CDC/SBA and the small business provides a 10% down payment. The SBA has streamlined the lending process for CDCs. We’ve provided an easy-to-understand application checklist for the SBA 504 loan, detailing the most commonly required paperwork and documentation necessary for borrowers. SBA 504 … You can also provide your contact information and we will follow up with you! CONTACT YOUR LOCAL BANKING … Not sure where to start? Businesses often have difficulty qualifying for traditional financing due to required down payments of 20 percent or more. The SBA sets standard, fixed rates for the CDC portion of the loan and a list of fees associated with 504 loans, along with when they are due, can be found here . This statement is not … Member FDIC. Why choose an SBA 504: The goal of the SBA 504 program is to create and retain jobs through long-term financing of real estate and equipment at a fixed, below-market interest rate. Member FDIC . SBA 504 loan interest rates are actually composed of two different interest rates—the rate on the CDC portion of the loan and the rate on the bank portion of the loan. The 504 Program provides small businesses requiring “brick and mortar” financing with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. Things are a bit different with an SBA 504 loan. Please contact us to learn more about our SBA CDC 504 Loan Program in North Carolina. Buy or Build a Commercial Building Start, Buy, Expand a Business, CDC Small Business Finance Privacy Policy | Terms of Use | Sitemap, © Copyright 2021 CDC Small Business Finance. about CDC SBA - Serviced Loans Quarterly Status Report, about SBA Form 1081: Statement of Personal History for Non-bank Lenders, CDCs and Micro-Lenders, about Interim Lender Certification for Refinanced Loan, about Guaranty Loan Status & Lender Remittance Form, about CDC Checklist for Submitting Equipment Appraisal, Women-Owned Small Business Federal Contracting program, Service-Disabled Veteran-Owned Small Business Concern program, Natural Resource Sales Assistance program, Commercial market representative directory, Procurement center representative directory, National Resource Guides (English/Spanish). Chris is committed to providing excellent customer service and contributing to economic development throughout Arizona. If you are trying to reach the SBA click here to be redirected. The 504/CDC loan guaranty program is administered through nonprofit Certified Development Companies (CDCs).4Of the total project costs, a third-party lender must provide at least 50% of the financing, the CDC provides up to 40% of the financing backed by a 100% SBA-guaranteed debenture, and the applicant provides at least 10% of the financing.5 Only qualified ALP-CDCs will be granted authority to approve, authorize, close, and service 504 loans of $500,000 or less – subject to SBA’s review and acceptance of eligibility only (SBA shall not review CDC decisions involving creditworthiness, loan closing, or compliance with legal requirements imposed by law or regulation). Contact one of our SBA 504 loan experts who can answer questions and keep you up to date. Whether you are looking to build in a community development zone or provide your services, an SBA 504 Loan can get you the capital needed. Reach her at 619-243-8678 or send her a quick email at hsnowden@cdcloans.com. U.S. Small Business Administration   |   409 3rd St, SW. Washington DC 20416. The SBA 504 offers a fixed below-market rate loan … We use cookies to improve your experience on the CDC Small Business Finance website.

The SBA’s 504 lending intermediaries, Certified Development Companies (CDC’s) serve your community to finance business expansion needs through 504. CDCs work with SBA and private sector lenders to provide financing to small businesses.

, SBA Form 1081: Statement of Personal History for Non-bank Lenders, CDCs and Micro-Lenders, Guaranty Loan Status & Lender Remittance Form, CDC Checklist for Submitting Equipment Appraisal. CDC Loans have helped many small businesses to expand within their communities. President Biden announced important changes to the PPP, including a two-week window for businesses with fewer than 20 employees. Include any Schedule of Debts for existing and any government debt. Preferred Lenders. The SBA connects entrepreneurs with lenders and funding to help them plan, start and grow their business. As a local bank, credit union, commercial lending company, or private investor, our program provides better risk management for you while infusing more reliable growth into the North Carolina economy. We have read through all the details and, as always, we are committed to helping you stay up to date on the provisions that relate to the SBA 504 program and matter for you and your clients. The SBA 504 Loan Program is a partnership program between a Certified Development Company (CDC) and a lender. We are not the Small Business Administration and are not a lender. Ask Us Today, CLICK TO DOWNLOAD OUR COVID BILL CHEAT SHEET, Subscribe to our weekly e-newsletter, Source, SBA 504 Cheat Sheet: COVID Relief/Stimulus Bill, Business Loan Financing Terms (10 you need to know), Visionary African-American Woman Entrepreneur Impacts Community Through the Power of Food, 21 Ways to Support Small Businesses in 2021 (Get Started Today), Small Business Trends to Watch For [In 2021]. Capital CDC partners with national banks and non-bank lenders, as well as local lenders to provide the SBA 504 Loan. Visit BDC Capital’s website to learn more. We facilitate the entire process, leveraging our combined knowledge and proficiency … Get the latest small business news and tips: Get the latest small business news and updates from our team once a week. Typically the borrower must contribute 10% of the total project cost; their bank lends 50% at their own rate and term (as long as the term is at least 10 years), and has a first lien on the assets being financed; and the CDC lends 40%, with a second lien. The table below illustrates the typical fee structure associated with a $1 million project and a $400,000 net debenture. What that means is that the lender and CDC will usually have a preexisting relationship and have agreed to work … Yes. In regards to jobs, all existing jobs may be counted as jobs retained (full time and full-time equivalent jobs allowed), Increase in cap on amount of existing debt eligible for refi from 50% of expansion costs to 100% of expansion costs increasing use of 504 loan pricing up to 25% of the project’s value. 504 loans are made available through Certified Development Companies (CDCs), SBA's community based partners for … Many franchises can qualify for an SBA loan, primarily 7(a) and 504/CDC loans. By continuing to use our site, you agree to our use of cookies. SBA 504 LOANS. There are two ways to do this. … Translate SBA en español For Partners Newsroom Contact Us Register Log In. The CDC/504 loan program is a long-term financing tool for economic development within a community. Qualified Debt must be at least 6 months old to be eligible for refinance – down from 2 years old, Elimination of requirement that loan must have been current for not less than 1 year prior to application date, More creative use of program goals has been reinstated for refi projects. Please click the link above to download the Cheat Sheet pdf and see Page 2 for details on eligibility and the timing of the offerings. Affiliated Bank Allegiance Bank Amegy Bank, N.A. Find a Lender/CDC: The next step can go one of two ways depending on your desires. A seasoned CRE expert, Chris knows how to get SBA deals approved and closed on time. 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