Top 5 Lenders for SBA 504 Loans in North Carolina

A small business owner seeking an SBA loan must go to a lender or bank approved by the SBA. The agency does not directly provide SBA loans. With banks, credit unions, and other lenders, SBA 504 North Carolina provides significant guarantees to help lenders during bankruptcy.

Aiming to encourage lenders to offer low-cost financing to small business owners who don't normally qualify for low-cost financing, the program aims to incentivize lenders to offer affordable loans with favorable terms.

Discuss the top five sba cdc North Carolina.

Popular and well-known SBA 504 lenders in North Carolina

Business Expansion Funding Corporation (BEFCOR) 

Befcor is one of North Carolina's leading lenders of SBA 504 loans. In addition to extending fixed-rate, interest-free loans to small businesses, they finance property purchases, equipment purchases, and construction projects. Throughout the loan process, BEFCOR provides personalized guidance and knowledge of SBA programs, ensuring businesses receive the needed funding. Business owners can also access capital quickly with BEFCOR's streamlined application process. As a small business supporter in North Carolina, they have helped numerous entrepreneurs succeed.

Self-Help Credit Union 

SBA 504 loans in North Carolina can also be obtained through Self-Help Credit Union. Providing affordable financing solutions to underserved communities is at the heart of their community development financial institution mission. Besides an attractive interest rate and flexible credit terms, the Self-Help credit union provides personalized service. Additionally, they offer business checking accounts, business consulting, and SBA 504 loans. North Carolina-based Self-Help Credit Union has strong relationships with local businesses and is committed to economic development.

Carolina Small Business Development Fund (CSBDF) 

CSBDF provides small businesses in North Carolina with loans under the SBA 504 program. Their main mission is to assist entrepreneurs needing help obtaining traditional financing options. CSBDF offers flexible terms, competitive rates, and great support. In addition, they offer business training and technical assistance. As the best SBA 504 loan lender in the market, CSBDF drives the North Carolina economy. As a top SBA 504 lender, they're mission-driven and have expertise.

Mountain BizWorks 

Western North Carolina is home to Mountain BizWorks, a mission-driven lender. The company offers SBA 504 loans for expanding small businesses. With Mountain BizWorks, you can get revolving credit lines and long-term fixed rates. To help entrepreneurs thrive, they offer coaching, networking, and training. A big part of Mountain BizWorks' mission is helping the community and creating sustainable jobs. Numerous entrepreneurs have benefited from their support in Western North Carolina.

Live Oak Bank 

North Carolina-based Live Oak Bank offers small businesses SBA 504 loans. Clients get personalized service from a dedicated SBA lending team. With Live Oak Bank, you can get a loan quickly and at a competitive rate. Besides healthcare, veterinary, and self-storage, they have much experience financing all kinds of stuff. Live Oak Bank is a great choice for small businesses in North Carolina seeking SBA 504 loans.

Conclusion

The top five lenders in North Carolina offering small business loans in NC are committed to helping small businesses grow. These lenders offer attractive interest rates, flexible terms, and personalized service.


These top lenders provide expertise and resources for North Carolina small businesses seeking an SBA 504 loan. Pace up your business to the next level. Contact 504 Capital today. Let us help you with the best financial options.

FAQs

How does an SBA 504 loan work?

SBA 504 loans are used by small businesses to acquire fixed assets and machinery through the U.S Small Business Administration (SBA). A certified development company (CDC) works with the borrower, the lender, and a lender to develop a project.

What are crucial factors to k when choosing a lender for my SBA 504 loan?

For the best fit for your needs, consider several factors, including the top 5 lenders specializing in SBA 504 loans. A lender's experience in your industry, interest rates, loan terms, and eligibility criteria should all be considered. 

What is the typical application process for SBA 504 loans?

Typically, disbursement of the loan takes between 45 and 90 days after initial application.
Location: Virginia, USA

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