Financing Your Expanding Small Business
To be a successful small business, it takes tremendous passion and incredible work ethic. Nothing comes easy. And nothing is given to you. 504 GROW Loans reward the efforts of small business owners by providing access to more affordable funding that can be applied to a wide range of commercial growth needs.
- Up to 90% commercial financing (50% lender first mortgage, up to 40% SBA 504 funding)
- Below market, fixed interest rates (SBA 504 portion)
- Long amortization terms (up to 20 years)
- Loans are assumable by qualified, acquiring businesses
- Large project sizes (SBA 504 portion up to $5.5MM)
- First mortgage rate set by participating lender
- $5.5MM for manufactures and loans that qualify under energy efficiency criteria (all others up to $5.0MM for the SBA 504 portion)
If your business needs major fixed assets such as equipment or real estate, you should consider a 504 GROW Loan. Eligible use of 504 Loan proceeds includes:
- Buy land and construct new building
- Buy land with an existing building
- Remodel, convert, expand or renovate existing building
- Green initiative projects
- Purchase of long-life machinery and equipment
- Associated fees and soft costs
“504 Grow Loans are absolutely the best way for small businesses to finance land, buildings and equipment with its higher advance rates, lower down payments and 20-year fixed interest rates. Additionally, it is a great refinance loan product,” says Al Hodge, Executive Vice President, Arkansas Capital.
If you’re ready to apply for a business loan now, click here to contact us. To receive more information on small business loans and to find the one right for your business, visit the loan products page.
