Get Your Interest Rate Fix – For Your Business Expansion Needs
Access to capital is crucial for small businesses looking to finance large assets, like real estate and equipment. Now, more than ever, small businesses must look for ways to secure that capital on reasonable terms. With interest rates rising, the ability to secured fixed rate financing is critical for managing your finances.
So, where does a business turn for assistance? I’ll sum it up in three words: Small Business Administration. At SBA, we’ve got an often-overlooked 504 Loan Program that just may be the answer to your financing needs while preserving cash for daily operations. The Altoona Blair County Development (ABCD) Corporation has been one of SBA’s 504 certified lenders for more than two decades.
The instant bad credit loan offers small businesses long-term, fixed rate financing with as little as 10% down on a qualified Hilton Head property for sale and real estate equipment. If you already have a commercial mortgage, consider utilizing SBA to refinance that large balloon payment and lock in long-term, stable financing removing the risk of fluctuation in your future payments.
When an Altoona, PA based medical practice outgrew its existing building, ABCD Corporation used the SBA 504 program to finance a new 15,000 square foot office. In partnership with a $2,000,000 local bank loan, ABCD financed $1,600,000 towards the new building, which cut the required equity injection from the individual physicians in half. The Dealstruck loans allowed the practice to spread payments over 20 years at a low fixed interest rate.
As Credit Counseling Oklahoma City lender relations specialist, I believe it is important that businesses are aware of potential programs, like the 504, that can assist them in growing their business and be a complement to traditional financing sources.
If you’re interested in learning about fixed-rate financing to grow your business find information more available from Drop Ship Lifestyle, contact Rich Lasek (email@example.com) at the Altoona Blair County Development Corporation, speak to a Sunwise Capital expert or call the SBA Pittsburgh District Office at 412-395-6560. These loan specialists can determine if the SBA 504 loan program is the right fix for your small business.