Everything You Need to Know About the 504 Loan Program

Community Business Finance is thankful for the opportunity to offer affordable financing to small businesses in Texas and Louisiana. Our mission is to encourage economic development, and we are dedicated to borrower education about the underutilized 504 Loan Program. As a dynamic resource for our communities, we have created a library of information to help borrowers understand the 504 Loan Program and prepare them for a successful loan outcome.

Everything You Need to Know to Prepare for a 504 Loan

Community Business Finance's mission is to encourage economic development throughout Texas and Louisiana. In carrying out this mission, we are dedicated to borrower education and seek to inform businesses about the underutilized 504 Loan Program. As a dynamic resource for our communities, we have created a library of information to help borrowers understand the 504 Loan Program and prepare them for a successful loan outcome.

We Are Your 504 Loan Resource

Community Business Finance's mission is to encourage economic development throughout Texas and Louisiana. In carrying out this mission, we are dedicated to borrower education and seek to inform businesses about the underutilized 504 Loan Program. As a dynamic resource for our communities, we have created a library of information to help borrowers understand the 504 Loan Program and prepare them for a successful loan outcome.

A Great Business Plan Leads to Success

Are you prepared to approach lenders for a business loan? One of the first things a potential lender will ask to see is your business plan. In fact, it will be impossible to secure most loans without one. Community Business Finance has touted the importance of a business plan before, but it is not just another hoop to jump through on the road to funding. It is a living document that shows investors, advisors and lenders the you are serious about making your business successful.

Preparation is the Key to Success for 504 Loans

Alexander Graham Bell once said, "Before anything else, preparation is the key to success." This applies to any aspect of life, but is especially true in business. For small business owners seeking financing for expansion or starting a business, being well prepared for the application process can mean the difference between success and failure. Fortunately, a powerful ally exists in Small Business Development Centers (SBDCs).

3 Mistakes to Avoid When Applying for a 504 Loan

For over 10 years, Community Business Finance's mission is to help businesses realize their dreams. Since 2005, we have approved more than 200 loans for a total of over $150,000,000, giving our loan experts the experience and knowledge to assist you with the 504 Loan Program and increase your chances of a successful loan process.

We have identified three mistakes that borrowers make during the application process and offer a few tips to help you avoid them.

Understanding Credit Reports vs. Credit Scores

When seeking a business loan, your company's credit health is one of many factors a lender will review. However, you may not know that, as a borrower, your personal credit score matters as well. Every individual that is a personal guarantor on a 504 loan must submit his or her personal financials to assess the perceived level of risk for the lender. This assessment includes personal credit scores.

504 Loan Application Checklist

Community Business Finance is proud to be an expert in the 504 Loan Program. Our knowledge and years of experience provide the foundation for a faster, easier business financing process. Through 504 loans, we have helped over 200 businesses in Texas and Louisiana borrow over $150 million to expand their operations and create new jobs.

Get Organized for an SBA Loan

Community Business Finance has helped over 200 small businesses acquire the financing they need through SBA loans. SBA loan programs can provide funds for working capital, buying commercial property, financing a start-up venture, and purchasing new machinery or equipment, including commercial vessels and mobile cranes.

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