Daily Herald Business Ledger: Ready to grow your business? Consider the SBA 504 loan
Established in 1958, the SBA 504 loan has a long track record of success for small business owners looking to buy, expand or refinance a commercial building or heavy equipment.Â
The program terms set it apart from any conventional loan on the market. A 504 loan offers up to 90% financing for established businesses. This means that the borrower only needs to put down 10% of the total project cost. In addition to a lower down payment, borrowers have the option of 10, 20 or 25 year loan terms available at below market fixed interest rates.Â
Most importantly, this financing structure frees up working capital to reinvest back into growing the business. Plus, owning your commercial property, rather than leasing it, is a great way to enhance both personal and business wealth.
You can read the full article here. Ready to turn your entrepreneurial dreams into reality? Download the program flyer and connect with a member of SomerCor’s loan origination team today to learn more!