SBA 504 Loan
One of the best
Small Business financing
An SBA 504 loan provides financing for fixed assets such as land, buildings, machinery, and equipment.
Loan Application Process
Meet with a BHCED representative to review the details of your project.
The BHCED representative will guide you through the application process, including which forms and documentation are required to be submitted with your application.
After your application is received, BHCED will review your application and present your loan request to the BHCED Board of Directors for approval.
After the BHCED Board of Directors’ approval, the loan is submitted to SBA’s central processing center for final approval.
Closing will be scheduled following the purchase of all assets or the completion of all project construction, which will include both the SBA 504 loan and the participating lender loan.
Funding occurs after the loan closing. Funds are wire transferred directly to the participating lender, reducing the interim loan amount to the agreed lender portion. The rate on the SBA 504 loan is established at the time of funding.
Talk to us
Have any questions? We are always open to talk about your business, new projects, creative opportunities and how we can help you.