SBA 504 Loan Program
From Money Man 4 Business
Check your eligibility in less
than 3 minutes with our Eligibility survey.
OR
Best for small to medium size business owners
SBA 504 loan program can be very beneficial for small to medium size businesses due to their longer repayment period and fixed interest rate. We at Money Man 4 Business make sure you get the best program at best rate for your business growth and success. And we have made this easier for your business to check their eligibility for our business loan programs with our 3 minutes eligibility Survey. Just visit our website moneyman4business.com and click on 3 minutes eligibility Survey.
Why SBA 504 loan program
Money man 4 Business has a customized solution & can offers of the SBA 504 & other Microloan for independent companies. Additionally, SBA 504 Loan for business loans is a very good resource for businesses & allow the business to grow through the acquisition of commercial land, refinance existing Commercial Business Mortgage, Restaurants, Bars, Retailer Build-out floor plans, all the business fixtures, equipment, furniture and many more fixed assets, start-up inventory, Heavy Commercial equipment, various manufacturing machinery equipment & limited to 20% of Commercial appraisal amount can be cash out for business cash flow at the time of loan closing and many more use of proceeds for you and your project to be successful.
The U.S. Small Business Administration 504 Certified Development Company Loan program conserves your working capital by requiring only a 10 percent borrower contribution. If you do not qualify for conventional financing, the SBA-backed 504 loan may be right for you. Certified Development Companies (CDCs) are nonprofit corporations that promote economic development within their communities through 504 loans. The SBA authorizes CDCs to provide financing to small businesses with the help of third-party lenders (typically banks). SBA loan amount: Loans are generally from $1.5 million and $10 million.
Features:
- Amounts up to $10 million
- Tenure up to 25 years for real estate
- Tenure up to 10 years for Machinery and Equipment
- Commercial real estate 90% LTV
- No Minimum credit score required
- Multiple loans can be consolidated and/or refinanced
- Interest rate Current Prime + 3% variable rate
- Backed by US Govt.
SBA 504 Loan Structure:
- 50% Bank – First position. Approved SBA Lender
- 40% CDC – Second position. Approved CDC in your State.
- 10% equity from borrower
- Borrowers can refi up to 90% of the current appraised property value. The refinancing may also include eligible business expenses
- Other Assets can be used as collateral to get to 90% LTV
- If the real estate is for special use, it will require an extra 5% borrower injection
Use of Proceeds:
- Long-term, fixed assets for expansion or modernization (usually real estate or large heavy equipment with life expectancy of more than 10 years).
- Refinancing of large equipment and/or owner-occupied commercial real estate may also be possible.
- Commercial real estate 90% LTV for Refinance, Purchase & Construction loans
Speak with our CFO
Mr. John Guillory.
It’s very simple to make an Inquiry online or take a 3 minutes eligibility survey at our website or just call us at 888.882.2741 Ext.0 (888.88.CASH.1 ext-0) and ask for Mr John Guillory.
Recent Fundings
Recent Funding 1: Amount $1,100,000, monthly payment of $10,782 for 25 years Loan.
Recent Funding 2: Amount $1,600,000, monthly payment of $15,682 for 25 years Loan.
Recent Funding 3: Amount $3,200,000, monthly payment of $27,875.44 for 25 years Loan.
Eligibility
- Business at least 24 months old
- Debt being refinanced must be a commercial loan.
- Refinance the loan is at least 24 months old at the time of 504 Refinance application.
- 85% or more of the existing loan was used to obtain a 504 eligible fixed asset
- Secured by a 504 Fixed Asset
- Borrower has been current on loan payments for the last 12 months
- 51% or more owner-occupied
Ineligible Businesses
- Nonprofit (beneficent, strict, government substances)
- Real Estate venture firms
- Firms engaged with theoretical exercises
- Dealers of uncommon coins and stamps
- Firms engaged with loaning exercises
- Businesses engaged with pyramid deals plan
- Passive organizations
- Private clubs and organizations that limit participation
- Businesses essentially occupied with advancing religion
- Businesses essentially occupied with political exercises
Ineligible Use of Funds
- Requirement of Liquid fund or Working Capital (minimum amount can be approved)
- To manage the Inventory
- The assets which have the Goodwill
- Several fees i.e., partnership fees
- Tenant growth
- Mostly for consolidating existing business debts
Required Documents:
- Six months of bank statement & current month to the date Bank statement
- Three years of Business & Personal tax returns.
- Current Year to Date P&L / Balance Sheet date.
- Schedule of Liabilities (download)
- Money Man 4 Business application (LINK)
- Schedule of Real estate assets. (Link)
- Information on the collateral will be used to secure this 504 Loan. (if you selected the property).
- Experian Credit report https://www.experian.com/
Call us today we will assist with any questions or application requirements. Loans are Pre-Approved within 2 business days and complete funding within 5 to 15 business days.
Get Started Here!
It is quite easy for you to apply with us. Just visit our website moneyman4business.com. Look for SBA 504 Loan Program or any other programs you like to apply. At the top of the page you will find Apply online button, Just hit it and fill the application and you are good to go or else just call us at 888.882.2741 Ext-0. We are always here to help, If for whatever reason it goes to voicemail, We will call you back as soon as possible.
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