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SBA 504 Loan Lending Process Explained in Day to Day Language

Does the thought of choosing among different business loans keep ticking like a clock in your head? Or do you find the interest rates on long-term loans too high? If so, then you're much like other small business owners who are encumbered by the thought of a big loan. 504 Capital Corporation will let you get rid of such thoughts with its SBA 504 Loan Program. We are SBA 504 Lenders in Virginia and Maryland and are a leading Certified Development Company. As a nonprofit SBA 504 Loan advancing company, our mission is to aid small businesses and promote economic development for all. We are financial experts, ready to make your business dreams a reality. What is an SBA 504 Loan? Small Business Administration (SBA) 504 Loan is a government-supported loan for small businesses. It enables small business owners to purchase real estate and other fixed property. This 504 Loan program provides business financing and promotes business growth. Three parties are involved in the process of lend...

5 Ways To Get A Small Business Loan

So, you want to start a business? You have an idea for the perfect venture and are ready to take the plunge and invest in your future. Ambition is certainly an important piece of the puzzle, but now you need to figure out what’s next. To be successful, most potential business owners will need to secure a small business loan to help them with things like start-up costs, construction, or mortgage payments. Small Business Loans in A Few Easy Steps Ready to get started? Here are 5 ways to get a small business loan. 1. Research the type of small business loan you need If you are a new small business you will need a different type of financing than an established company interested in having additional money available for expansion.   Start-up companies can benefit from Small Business Administration (SBA) loans that are more forgiving when it comes to qualifications. Loans like the SBA 504 and 7(a) loans require less money down and have attractive repayment terms, including low, fixed-in...

Understanding The Different Types of Land Loans

Purchasing a plot of property (with nothing on it) may seem like a simple transaction, but the process can be more complicated than investing in a house or building that comes with earth that surrounds it. If you are interested in buying a piece of land to use for business purposes, including building an office or facility, you will need likely a land loan. What is a Land Loan?   Land loans in Maryland offer credit to qualified borrowers that can be used to purchase pieces of land. Because they aren’t as common as mortgage loans and often are riskier, these loans typically require larger down payments and have higher interest rates. Therefore, it’s important to consider all the different types to make sure you are getting the most affordable and beneficial option for your business.   Types of Land Loans   There are a few different common types of land loans in Maryland , all with different pros and cons. The option you pick will depend on what you will use the land for—r...