• SBDCs Are a Powerful Ally for 504 Loans

    It is no secret that knowledge is power. Search engines return hundreds of quotes about this fundamental truth. Obviously the more information you have, the better prepared you are for whatever you encounter in life, especially in business. Business owners seeking 504 loan financing for expansion or starting a business have a powerful ally in Small Business Development Centers (SBDCs). A well-prepared applicant greatly improves their chances of success.

    SBDCs provide a large variety of technical assistance to small businesses and entrepreneurs. They are hosted by leading universities and colleges in partnership with the Small Business Administration. Their mission is to aid entrepreneurs in becoming business owners and help existing businesses remain competitive.

    Community Business Finance aids in this mission by providing long-term, low down payment, fixed-rate financing to promote economic growth in our communities. We seek to help borrowers understand the 504 Loan Program with our 504 School. We have identified the information that businesses will need to provide during the loan process, as well as outlined the elements of a solid business plan.

    SBDCs are a great resource to assist you in gathering and understanding this information. Their consulting services are free of charge and they offer training services at a nominal fee. If you are looking for specific business information or data, you can access their library reference services. This is helpful when researching market or industry trends and creating your marketing plan. It is also useful in identifying your competitors, suppliers, or potential clients.

    SBDCs offer free confidential one-on-one consulting for long-term business advising. Their experienced counselors will evaluate your business idea and strengthen your business model. They can help you understand your financials and create a business plan that appeals to lenders. They offer low-cost workshops and seminars in a classroom setting as well as online. There are about 1,000 SBDCs nationwide with many locations in Texas and Louisiana.

    Both the SBDC network and Community Business Finance aim to help business owners and entrepreneurs gain the knowledge needed for financial success. Visit your local SBDC or browse our website for more information on the 504 Loan Program

    To Get Started fill out a short online form and a loan expert will contact you.

    You can also contact our offices:

    In Texas call Bill Ebersole at 713-457-1650, ext. 201, or email him at bill@communitybusinessfinance.com.

    In Louisiana, call Jeanne Bergeron at 1-800-462-1017 or email her at jeanne@communitybusinessfinance.com.

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