Borrowers

How to Choose a Loan Broker

You need a business loan but you’re not quite sure where to begin. You may have heard that loan brokers can take some of the legwork out of the process because they already have set relationships with financers, and they have the knowledge and experience to answer your questions.

This is true for the most part, but you need to be aware that most loan brokers are not highly regulated by the government, so each one may have a different set of qualifications. They may also have differing payment models, where you pay them a commission for their services, the financial institution(s) they work with will pay a commission on the loan, or both.

If you’re needs include getting financing to buy commercial land or a building, upgrade a building, refinance a current commercial mortgage, or purchase long-term equipment and/or machinery, you best bet is to look into SBA 504 loans offered by a Certified Development Company (CDC). SBA 504 loans were created by the U.S. Small Business Administration (SBA) to support sustained economic growth across the country. Certified Development Companies are non profit organizations that work under the guidelines of the SBA.

SBA 504 loans are beneficial to small businesses in a number of ways: 1. They provide easy financing with a minimal down payment necessary. 2. They offer fixed rates that are traditionally lower than standard business loans. 3. They offer longer terms without balloon payments.

504 Capital Corporation is a leading CDC working under an Accredited Lenders Program (ALP) designation. This means we not only have increased authority to process, close and service SBA 504 loans, we have the ability to expedite 504 loan processing and closings, which can be extremely important in a volatile real estate market.

The added value of working with 504 Capital Corporation is that we’re uniquely knowledgeable about the 504 loans and we’ll walk you through every step of the process. If you have any questions along the way, we’ll be right there to provide guidance.

Our sole mission is to assist small businesses and help them grow. Contact 504 Capital Corporation today to see how we can help you get the money you need to make your business a success.