SBA 504 Loan in Stevens County WAAnother of the Small Business Administration’s popular loan programs is called the SBA 504 loan. In a nutshell, the SBA 504 loan program is a long-term loan set with a fixed rate at 10-percent down. Know that it has the government-backed guarantee you desire and the terms and rates your small business needs to keep from a crippling small business loan without this vitally important protection. At SBALoanOnline, we provide SBA 504 loan services in Stevens County and have developed a quick and easy process so you don’t have to worry about how to navigate the government’s sometimes tricky and confusing process.

SBA 504 Loan Specialist Near Me In Stevens County Washington

Keep in mind, one of the primary reasons for owning your own business is to control your own business and personal fate, so don’t get into a loan or financial situation where you’re tied to rates and terms that tie you down. Let the highly skilled and trained experts at SBALoanOnline help you understand the SBA 504 program and how it can help you expand your capital access in the most financially friendly terms and rates. We’ll work tirelessly for you the moment you reach out to us for assistance. Each of our team members has tons of experience with SBA loan programs.

Get A SBA 504 Loan Today – (424) 343-1099

So if you’d like more information about the SBA 504 loan program and would like to obtain one today, call the nationwide experts at SBALoanOnline. One of our friendly and knowledgeable associates in Stevens County WA is standing by right now to answer any question and get your application ready to roll, so to get a SBA loan now, call us at (424) 343-1099.

More About SBA 504 Loans

Qualifying For a SBA 504 Loan

The SBA 504 Loan is a program that also integrates a neighborhood development corporation in Stevens County. The loan is ideally suitable for a small company that is interested in building or buying their owner-occupied industrial real estate.
The program works by bringing 2 lenders together to fund the purchase of business property. Generally, these two lenders are the CDC and a conventional lender or bank.
These arrangements work whereby the bank loans the customer up to 50 percent, CDC loans as much as 40 percent while the customer chips in the 10 percent normally as a cash down payment.

Loan Requirements for a SBA 504 Loan

There are two primary requirements that your organization in Stevens County WA must satisfy in order to qualify for a SBA 504 loan. These include having a credit score of 680 plus and an ability to make a 10 percent down payment for the project.
Besides the two, you will need to not have the needed financing form any other source or be associated with the real estate rental investment.
Your company in Stevens County WA will have to have a considerable net worth of less than $15 million, have the capability to make the loan payment on time from the anticipated operating cash flow from the business in addition to inhabit 51 percent of the building.
SBA 504 loans are therefore ideal for any business that is interested in the purchase of industrial property and can guarantee 51 percent tenancy of the area while renting out the remaining 49 percent.

Loan Terms and Interest Rates

Stevens County SBA 504 LoanThe two various kinds of loan— from the bank and the CDC– that make up the SBA 504 Loan generally have different terms, limits, rates, and fees.
The rates integrated make up the total loan rate on your CDC/SBA 504 Loan.
Typically, your company will pay an interest rate of between 4 and 6 percent on the whole loan with a payment length of 25 years.
The SBA sets a limitation on the terms, costs and rates of interest that is given by the CDC which covers 40 percent of the entire project cost.
With a 10-year CDC loan, the fixed rate of interest will be about 4.67 percent with a 20-year one having a fixed interest of 4.95 percent.

Traditional SBA 504 Loan Lenders

While the SBA sets the limit on the CDC loans, it does refrain from doing the same for the traditional lenders such as banks or other banks which leaves room for negotiations for the loans.
However, the rate of interest are normally in between 5 and 9.5 percent with a reset point. The loan amount for a SBA 504 loan is typically around $14 million.
Because borrowers can take on several 504 loans for numerous projects, the loan amount can increase to $20 million.
As an organization, if you are not thinking about getting financing from a CDC, your best option is the SBA 7a loan.

Applying for a SBA 504 Loan

The SBA 504 loan application resembles that of the SBA 7a loan in terms of the amount of time and documentation needed to get the financing.
Furthermore, your business will need to give extra documentation on the property that is being funded.
In any case, consider a proper amount for your organization and whether you can fulfill your lenders’ requirements.

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