Everything You Need To Know About Construction Loans
Construction projects are exciting, but also often require a significant investment of time and money. Fortunately, there are financing options available that can help you bring your project to life. One such option is the SBA 504 Construction Loan , which offers a variety of benefits for qualified borrowers. In this article, we'll take a closer look at SBA 504 construction loans in Maryland , including how they work, who qualifies, and the benefits of choosing this type of financing for your construction project. What Is An SBA 504 Construction Loan? An SBA 504 Construction Loan is a type of loan that is specifically designed to help small business owners finance the construction or renovation of commercial properties. These loans are made in partnership with private lenders and the Small Business Administration (SBA). In general, SBA 504 loans are structured to allow borrowers to obtain up to 90% of the total project costs, which can be used for a wide range of expenses includi