Daily Herald: Three Tips for Small Businesses Applying for an SBA 504 Loan

The SBA 504 loan program is one of the most popular financing programs offered by the Small Business Administration (SBA). This lending solution provides a long-term, fixed rate for small business owners to buy, build, or refinance major fixed assets – such as owner-occupied commercial real estate, equipment, and heavy machinery. As part of The Daily Herald’s Small Business Resource Guide, SomerCor loan officer, Elisabeth Williams, provided a three key tips to help small businesses applying for the SBA 504 loan:

Know your numbers and need

Provide complete and accurate documentation

Be up front with your lender

You can read the full article in the Daily Herald. Also, be sure to 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 helps small businesses access capital.