Bye-Bye Winter, Hello Construction

Construction300

Construction season is upon us! Now is the time to get your clients’ permanent financing in order. An SBA 504 loan is able to finance 30-40% of the total cost to construct a new building or remodel an existing building.

Nailing down an SBA 504 loan soon for your clients’ business construction project is key…

  • As a lender, you’ll be assured the SBA 504 loan is approved for take-out financing before construction begins*.
  • Your bank will reduce their risk by enjoying a first lien while lending only 50% of value.
  • Your small business clients will enjoy a long term, below market, fixed rate on the SBA 504 loan portion.
  • Small business owners have the opportunity to complete their project with only 10-20% equity injection, which can be cash, land, or borrower equity.

Contact FDDC for more information to start the approval process.

*If construction has already started, it is possible to utilize an SBA 504 loan. Be sure to discuss this with FDDC as soon as possible.