What are the Benefits of the SBA 504 Loan Program?
The SBA 504 loan offers several advantages:
Low Down Payment: Typically, only 10% of the project cost is required as a down payment, preserving business capital for other uses. Fixed Interest Rates: The CDC portion of the loan usually comes with a fixed interest rate, providing predictability in budgeting. Long Repayment Terms: Terms of up to 25 years for real estate and 10 years for equipment, reducing monthly payments. Job Creation: Encourages businesses to create or retain jobs, contributing to economic growth.