504 Capital Corporation

Anyone who’s ever purchased property knows that it’s one of the bigger investments you’ll probably make. To lighten the financial load, is it possible to refinance the loan you took out to pay for it? The answer is yes! The SBA 504 refinance program is a loan restructuring system that lets borrowers refinance existing debt at lower than market rates. This is accomplished by offering lower fixed rate solutions rather than the adjustable systems with higher rates common to traditional bank loans. This allows business owners to both save and have the necessary funds to grow their businesses. The SBA developed the refinancing program in support of its mission to spark growth in local communities. They realize that being able to consolidate and pay off existing debt at a lower fixed rate has a far-reaching impact, not just for the business owner but also for the local economy. The SBA 504 refinance loan program can be used in several ways, including refinancing owner-occupied commercial re...

The SBA’s 504 Debt Refinancing Program is a boon for any small business owners who need to lower their monthly debt payments and access the equity in their real estate holdings. Under this program, available through 504 Capital Corporation, an SBA 504 loan provider in Virginia , North Carolina , and Maryland , you can apply for below-market, fixed interest rate refinancing with repayment terms up to 25 years for up to 90% of the appraised value of commercial real estate property. Recently, revisions to the program were published in the Federal Register as an Interim Final Rule. These updated regulations significantly expand the scope of 504 loan debt refinancing programs to help small businesses with both recovery and growth. 504 debt refinancing offers two authorized options. First, if the project involves the expansion of the small business, any amount of existing indebtedness that does not exceed 50% of the project cost of the expansion may be refinanced and added to the project...

Small businesses contribute enormously to Maryland's economy. According to a recent U.S. Small Business Administration (SBA) Office of Advocacy report , statistics show that there are close to 580,000 small businesses in the state, which employ half of Maryland employees, and comprise close to 100% of all business activity. Not only is Maryland a great place for entrepreneurs to operate small businesses, but it’s also ranked among the nation’s top ten states for start-up survival rates.  In order to thrive, these business owners must have access to working capital so they can achieve their financial goals and grow the economy. What Are Some Financing Resources in Maryland? The Maryland Department of Commerce and its partner organizations offer state-wide incentives. The Maryland Small Business Development Center The Maryland Women’s Business Center The U.S Senate Committee on Small Business and Entrepreneurship resource guide for minority-owned businesses The Maryland Small Busin...

A Small Business Administration (SBA) loan often ends up serving as a lifeline for small businesses. These loans offer the lowest rates and payments and the longest terms available on the market. Funds can be used for a wide variety of functions, including advertising, operating capital, hiring staff, buying equipment or buying/refinancing a commercial property. You may have been researching SBA lenders or small business loans in Maryland, North Carolina, and Virginia and still have questions about SBA loans. The most important takeaway should be that working with a reputable lender like 504 Capital Corporation is the best way to find a loan structure that’s the best fit for your business needs. Here are some facts you might not be aware of: SBA Loans Are Borrower Friendly In fact, the SBA program was created specifically to provide small businesses across America with more flexible and favorable terms than conventional lending. The organization is dedicated to assisting borrowers w...

In response to the overwhelming challenges faced by small businesses across America, in March of 2021 the U.S. government announced a Coronavirus Stimulus Bill, which provided almost $350 billion in emergency relief funding to help small businesses stay afloat during the COVID-19 pandemic. This government assistance includes the Paycheck Protection Program, Economic Injury Disaster Loans (EIDL) , the Emergency Capital Investment Program, and Small BusinessTax Credit Programs. Your small business could receive a Economic Injury Disaster Loan (EIDL) of up to $2 million in funds. It differs from the requirements of regular 504 Loan in that this emergency capital can be used to meet financial obligations and operating expenses that could have been fulfilled had the disaster not occurred. These include fixed debts, payroll, and accounts payable. For information on the status of your economic injury disaster loan, contact SBA disaster customer service at 1-800-659-2955 (TTY/TDD: 1-800-877-83...

According to a 2020 report, North Carolina is home to over 900,000 small businesses , and most of them need help acquiring financing. Small business loans are invaluable to both established enterprises and brand new startups. Working capital provides a wealth of opportunities for your business to expand, no matter how long you’ve been around. Rest assured, there are financing solutions for every small business in North Carolina. Here’s a brief guide to the most common funding options available to small business owners: Bank Loans When you’re beginning to research small business financing, long-term loans from banks and credit unions are a great place to start. Just one example – if you qualify, the Carolina Small Business Development Fund offers loans of up to $250,000. SBA Loans The Small Business Administration (SBA) is a federal agency which was created to provide resources to small businesses looking for funding. It offers a variety of low-interest long-term small business financin...

Are you looking for small business financing in Virginia ? If so, congratulations. You're about to invest in the local economy and likely put yourself on the path to financial success. But before you can move forward with your small business plan , it’s important to choose the right loan provider. You have a few attractive options for small business financing in Virginia through the United States Small Business Administration (SBA) . The SBA 504 loan and the SBA 7(a) are both great choices for small businesses. But what’s the difference between them? We took a look at both loan types to help you decide what is right for your business. Breaking down the SBA 504 Loan Requirements: To work with an SBA 504 loan provider in VA , you will need to have a solid business plan for a for-profit, U.S. company and good credit. Financing is available up to $5 million. Benefits: This loan is best for business owners looking to buy commercial real estate , heavy machinery or equipment , or prope...