Benefits of Richmond Small Business Loan

2. Small business loan corporation • 504 Capital Corporation has a team of SBA lending specialists that provides SBA 504 financing in tandem with bank financing and equity, invested by the borrower. Our loans have a term of 25 years, 20 years, and 10 years. Regardless of which you choose, you’ll receive a low competitive fixed rate. We work with banks, credit unions, commercial lending companies and private individuals.

3. Eligible for land loans in maryland • SBA 504 loan helps you to purchase land with 10% down payment, long repayment terms. To Qualify for an land loans in Maryland, you must meet the following conditions: • Credit Score—You need to have a credit score of 680 or higher • Limited Outstanding Debt—Your Debt Service Coverage Ratio should be no lower than 1.25 • Down Payment—You must be able to satisfy the down payment requirement • Proof of Payment Ability—You will be required to show that you can reasonably afford the monthly payments of your loan • Clean Financial History—In addition to not having a lot of outstanding debt, you should also not have a history of recent bankruptcies, foreclosures, or tax liens.

4. Benefits of Richmond small business loan • Richmond Small Business loanprovide a number of very attractive benefits over conventional business loans offered by other financial institutions such as banks and credit unions.  • SBA 504 loans also come with longer repayment terms than average business loans. • Entrepreneurs and small business owners can apply for SBA 504 loans through what is called a Certified Development Company (CDC).

5. SBA 504 loans are beneficial to both lenders and borrowers. For small businesses looking for financing, they offer: • Easy Financing: Borrowers generally need a 10 percent down payment to secure an SBA 504 loan, compared with 20-30 percent usually required for conventional business loans offered by financial institutions such as banks or credit unions. • Better Rates: SBA 504 loans provide fixed interest rates and no balloon payments at the end of the loan term.  • Longer Terms: Extended terms on loans can mean lower monthly payments, which is especially beneficial for fledgling small businesses trying to create a customer base. By being able to channel more funds per month into marketing/advertising and to keep cash flow positive, longer loan terms help businesses build slowly and strongly. • Larger Loans: SBA 504 loans can range from as little as $125,000 to $20 million or more.  • When loan timing is critical, we’re the SBA lender in Virginia you should contact. Get in touch with us and let’s get your dream moving forward.

6. Contact Us https://504capital.com/ Main-VA 501 Independence Parkway, Suite 330Chesapeake, VA 23320 Phone No.: 757-623-2691 Richmond, VA 406 West Franklin Street, Ste. 208Richmond, VA 23220 Phone No.: (804) 513-2952 North Carolina 4208 Six Forks Road Suite 1000Raleigh, North Carolina 27609 Phone No.: 919-645-5735 Maryland 8403 Colesville Rd #1100Silver Spring, MD 20910 Phone No.: 240-638-2713