Businesses that need expansion financing have felt forced to look at riskier options when they are denied a conventional loan. Sometimes business owners don't even approach their bank for a loan, having been turned down in the past. Owners may not be aware that the 504 Loan Program is even an option for their business, or feel they would not qualify.
According to The Hartford's 2014 Small Business Success Study, 36 percent of the small business owners surveyed used personal sources of funding rather than traditional sources for business needs. These personal sources include personal savings, retirement savings, or borrowing from their friends and family.
Community Business Finance's 504 Loan Program offers a valuable alternative to both conventional loans and personal financing. 504 loan rates are usually below market and fixed for the entire term of the amortization, usually 20 years. A 504 loan allows you to keep more of your cash reserves through lower down payments, lower monthly payments and financed closing costs.
Some businesses may be aware of the 504 Loan Program, but feel they would not qualify or worry about the amount of paperwork required by the SBA. Qualifying is easier than you think, and Community Business Finance's 504 loan experts will diminish your fears and work with you every step of the way to ensure a smooth, successful loan process.
Don't deplete your personal savings or retirement funds for your business needs, or risk being indebted to family and friends. Community Business Finance offers business loans that provide a more secure way to finance an expansion.
For more information on Community Business Finance's 504 Loan Program visit our 504 School, or contact our offices:
In Texas call Bill Ebersole at 713-457-1650, ext. 201, or email him at firstname.lastname@example.org.
In Louisiana, call Jeanne Bergeron at 1-800-462-1017 or email her at email@example.com.