By: Stephen Umberger, District Director
Small enterprises thinking about buying or renovating commercial property or buying gear to develop or expand their businesses must look into the U.S. Small company Administration’s (SBA) 504 Loan Program. The 504 loan provides small enterprises use of the exact same form of long-lasting, fixed-rate funding enjoyed by bigger organizations. Interest levels are comparable to bond that is favorable prices.
Most Maryland companies could be qualified to receive this loan system. The 504 Loan Program describes a company as tiny if its worth that is net is $7 million and web earnings, after fees, are under $2.5 million. Virtually any kind of genuine company is qualified to receive 504 funding, including production, wholesale, solution, expert service or retail.
A 504 loan enables you to purchase fixed assets such as for example: land and improvements, including owner-occupied buildings, grading, street improvements, utilities, parking lots and landscaping; construction of the latest facilities, or even to modernize, renovate or convert current facilities; or even buy machinery that is long-term equipment with a helpful life of at least a decade. „U. S. Small Company Administration Loan Funds Available to buy Commercial Real-estate“ weiterlesen