Fortineaux & Associates LLC Scales Up and Serves Community with 504 Loan

Company Profile

Husband and wife, Marlon and Nona Fortineaux, founded Fortineaux & Associates LLC in 1982. The company specializes in personal tax preparation, business tax services, and booking services. The majority of their customers are small businesses and residents of Chicago’s Southwest side.

Over the years the company received a growing interest in the consulting services from existing clients. After nearly 40 years in business, the Fortineaux’s decided to expand their offerings to include business and financial literacy courses. Trainings will cover computer and accounting programs, business operations, marketing strategies, and business succession planning.

SBA 504 Loan with SomerCor

In order to provide the new training sessions to clients and members of the community, the Fortineaux’s worked with the SomerCor on an SBA 504 loan to purchase and renovate a commercial property adjacent to their existing building.

QUOTE/PICTURE GALLERY

The Fortineaux’s locked in an effective interest rate of 2.27% on the SBA portion of their loan in August of 2020. This was the lowest rate in 504 program history and resulted in significant borrower savings on the deal. While interest rates are rising, the effective interest rates for the 504 remain low (below 4% since summer of 2019). Now is the time for borrowers to take advantage of these low rates by locking in fixed, long-term financing for commercial real estate and heavy equipment through the 504 program.

Fortineaux & Associates LLC is Open for Business!

Fortineaux & Associates LLC is open for business and serving clients. Visit http://www.fortineauxcpa.com/ or call (773) 445-9100 to learn more about their offerings.

Download the program flyer and connect with a member of SomerCor’s loan origination team to learn more about how the SBA 504 loan program supports improved cash flow for small businesses.