Who you gonna call?
Partnering with FDDC via the SBA 504 loan program will allow all of your credit boxes to be checked. The following are a few examples of issues the partner 504 loan will resolve:
- Client is unable to meet your equity injection requirements
- With the SBA 504 loan involved, a minimum of 10% equity injection is required
- Client needs a longer maturity than your policy permits
- The 504 loan can finance up to 40% of project costs – the client can utilize the 504’s 10, 20, or 25 year term
- The project does not meet your collateral requirements
- The 504 loan takes a 2nd lien position on project collateral – you’ll be in a 1st lien position while lending 50% of projects costs
- The client is new to this type of business or your policy considers the industry a higher risk
- You lend 50% and are in a 1st position helping mitigate this risk
CALL FDDC AT 605.882.5115 – WE’D LOVE TO CHAT ABOUT YOUR “STRANGE” REQUEST!