Community Business Finance is dedicated to providing business loans for business dreams. Partnering with Community Business Finance means having the experience, efficiency, and relationships to create a success story for your business.
The Right Partner
504 Benefits for Business Owners
10% Down Payment – Less cash down will preserve working capital for business growth.
Long-Term 25-year Amortization – Payments stretched out longer will provide more cash to help cover operating expenses and freedom to expand.
Competitive Fixed Rate Financing – A locked interest rate for the long-term provides security from fluctuations in markets and Federal Reserve rate fluctuations.
Greater Access to Capital – Expanding or start-up businesses relying upon tighter cash flow or projections are more likely to be approved due to lower lender risk.
Single/Special-Purpose Type Properties Allowed – Car washes, daycares, restaurants, hotels, RV parks, mini-storage, and entertainment complexes are all acceptable and eligible.
All-Inclusive Funding – Closing costs, lender and SBA fees, interim interest, and other real estate-related expenses may be rolled into the project financing
Why Partner with Us?
We have the Experience
Accomplishments since 2005, include:
Jobs Created in Texas and Louisiana
SCORE, local SBDCs, and the Greater Houston Business Procurement Forum
We have the Efficiency
Community Business Finance has invested in the technology.
We ensure the collection and digital transfer of required application documentation is simple and secure during the application process.
Responsive & Reliable Loan Professionals
We quickly obtain the required information and properly structure the loan to comply with SBA guidelines from the beginning to save valuable time.
We have the Relationships
Community Business Finance has relationships with many smaller and larger lenders.
Our local connections with accounting, banking, legal, and real estate professionals lead to opportunities for business expansion, construction of new buildings, job creation, and prosperity in our communities.
Our partnerships with community, regional, and national lenders provide multiple funding sources to support speculative startup businesses.
We are the Right Partner
Community Business Finance works with all banks and lenders.
Communication & Education
We establish clear expectations with lenders and business owners upfront.
We value follow-up and creativity.
We regularly train our staff and lending partners about the 504 loan program and continuously evaluate our processing methods.
Engagement & Reciprocation
We are available anytime to discuss the challenges and merits of a borrowing opportunity.
We are committed to identifying business owners who need a loan to finance a building or heavy equipment.
We can refer an experienced conventional lending partner to participate with us if the current bank is not interested in the SBA 504 advantages.
The 504 Loan Program was established by Congress in 1987 to promote economic development in the trade area of a certified development company (CDC). The program's goals are met primarily through projects that create job growth or job retention in local communities. By distributing the amount needed to finance a project between the three parties, lenders are exposed to less risk and are more likely to approve the loan.
How 504 Works
as little as
Eligible Use of Funds
A business can use proceeds from the 504 Loan Program for direct expenditures the following purposes:
SEE IF YOUR BUSINESS QUALIFIES
Community Business Finance's 504 Loan Program can provide financing for most types of businesses. There are very few business types that are not eligible.
Business must be a legal entity - corporation, partnership, sole proprietor, limited liability company
Owners must be U.S. citizens or legal permanent residents
Business must be located in the United States
Net worth under $15 million and net profits under $5 million (2-year average)
Job creation/retention or public policy goals must be achieved through the financing.
Businesses engaged in lending, a passive holder of real estate and/or personal property or a life insurance company
Has restriction on patronage
Is a government-owned entity (exception for Native American tribes)
Engaged in promoting religion
Consumer and marketing cooperatives (producer cooperatives are eligible)
Engaged in loan packaging
Has associates who are incarcerated, on probation, on parole or have been indicted for a felony
Equity interest by lender, CDC or associates in applicant concern
Provides prurient sexual material
Has previously defaulted on a federal loan
Engaged in political or lobbying activities
What You Need
Applying for a 504 loan requires forms and documentation just like any commercial loan. The lender will have the same expectations and you should be prepared to describe your business, how you will use the loan proceeds, and establish an ability to repay the loan.
Startups are companies in operation for less than 24 months. Expanding businesses are companies that have been operating for at least two years, but are relying on projections to service the proposed new loans. Companies in these situations may have additional application requirements.
You can increase your chances of a successful application process by providing the following information to your chosen lender:
Tell us Your Dream!
We are dedicated to providing business loans for business dreams. Please contact us and tell us about your dream. We need general information about your project to understand your loan options and discuss making your dream a reality.