The recent floods in Houston and throughout Texas devastated many communities and the businesses that support them. However, in the words of Will Rogers, "Texas is a great state. No matter what happens to it...it just keeps rolling along!"
As Texans begin to repair and rebuild from the damaging forces of Mother Nature, Community Business Finance is encouraging business owners to explore the benefits of the 504 Loan Program. 504 loans allow you to construct a new building or renovate an existing structure. You can also purchase machinery and equipment.
Eligible Uses of 504 Loan Proceeds
• Site improvements
• Purchase of one or more existing building(s)
• Conversion, expansion, or renovation of one or more existing building(s)
• Construction of one or more new building(s)
• Acquire and install machinery and equipment
• Professional fees directly attributable and essential to the project
• Repayment of interim financing costs
For more detailed information about the eligible uses of funds, visit our 504 School.
Does Your Business Qualify?
Community Business Finance's 504 Loan Program can provide financing for most types of businesses. While the government has strict sizing rules that define a small business, you will generally qualify as a small business concern if your business has less than $15,000,000 in net worth and made less than $5,000,000 in net profit per year, averaged over the last two years.
For more detailed information about qualifying for the 504 Loan Program, visit our 504 School.
SBA loan programs have great flexibility, but due to the lack of awareness of program benefits borrowers have trouble accessing these programs. In fact, the 504 Loan Program is historically underutilized. Community Business Finance wants to help Texans rebuild by educating borrowers on the alternative financing that is out there.
To learn more, watch our video explaining the differences between the SBA 504 and 7(a) lending programs in regard to commercial real estate financing.
To discuss the benefits of the 504 Loan Program directly, contact our offices:
In Texas call Bill Ebersole at 713-457-1650, ext. 201, or email him at email@example.com.
In Louisiana, call Jeanne Bergeron at 1-800-462-1017 or email her at firstname.lastname@example.org.