Whether your business is product or service-based, having the necessary equipment is vital to maintaining smooth operations. Replacing, upgrading or purchasing new equipment for the first time can put a serious pinch on your cash flow though. However, with the right...
Is your Accounting Firm recommending SBA 504 Loans? As a professional intimately familiar with a business client’s financials, stepping beyond tax prep and bookkeeping into the role of consultant makes sense for both your client and your accounting practice. ...
If you’re a small business located in a rural community, you should be aware of an SBA loan program created specifically to help you grow and expand. The SBA 504 Loan Program, an economic development tool designed to help businesses in rural communities,...
There will soon be a new member of the SBA 504 loan family. To better meet some borrowers’ needs, a 25-year loan term option will become available in 2018, which will be in addition to the 10-year and 20-year loan options already offered. SBA’s recent announcement...
Starting or growing a business can, and usually does, involve spending in several different areas. And some business owners may find their type of business to be one that lenders pass on due to inexperience with the business type or lack of comfort with the risks....
There will be a slight fee reduction for SBA Loans approved on or after October 1, 2017… Each year SBA reviews certain fees payable to SBA to determine if any of those fees need to be adjusted to cover the estimated subsidy costs of the 504 Loan Program. For...
The U.S. Small Business Administration (SBA) recognizes the importance of our veterans and offers them special benefits through their SBA loan programs. SBA History The SBA was created in 1953 to counsel, assist and protect the interests of small businesses....
In June, Growth Corp was once again awarded Illinois’ Largest 504 Lender by the U.S. Small Business Administration (SBA) for its continued support and extraordinary contribution to the small business community. Growth Corp remains one of the top ten CDC’s in the...
The true bottom line of an expansion project, no matter the size, is far more than just the cost for foundation and bricks. Let’s face it, soft costs can constitute a big portion of expansion costs. And most conventional bank loans only finance a percentage of the...
Attention lenders: when small business owners approach your bank looking for a loan to purchase commercial real estate or heavy equipment for their growing business, are you prepared to meet their needs? What if they lack a sizable down payment? SBA 504 Loan...
