When searching for business financing, there are many aspects of a loan that can vary widely from one lending institution to the next. Interest rates, amortization schedules, and fees are just a few of the conditions that differ between offers. Down payment requirements can range from 10% all the way to 25 or even 30%! Borrowers might expect this from banks and commercial lenders, but differences can be found when comparing SBA loans, as well.
Do you need a quick estimate for a 504 loan? Community Business Finance has a mobile website that allows both our lending partners and borrowers to get faster estimates for our 504 Loan Program. Our mobile site allows users to get an estimate on a 504 loan via any smart phone from anywhere at any time. This estimate can then be immediately emailed to anyone in .pdf format. This means an estimate is easy to get and easy to share!
After 10 years in business, Community Business Finance has helped many different businesses with a variety of financial needs. However, one goal remains constant for each borrower: an affordable loan. We recently helped a business owner purchase a new facility that simply wasn't possible with a conventional loan.
August 4th was Startup Day Across America, when we celebrate entrepreneurs and connect them with elected officials to discuss the challenges that new companies face. Entrepreneurs are crucial to both local and national economic growth. For over 30 years, startups have created an average of 1.5 million jobs per year, and Texas ranks fifth highest on the Kauffman Index of Growth Entrepreneurship.
Community Business Finance's 504 Loan Program has many advantages over a conventional loan. For businesses seeking property or equipment loans, finding the lowest interest rate seems like the best move. However, bear in mind that the interest rate is only one aspect of your loan contract. Therefore, the loan with the lowest interest rate might not actually be the best loan for your business. Let's examine the differences between conventional loans and 504 loans.
