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Starting a business in Virginia.
Business Insider recently ranked all 50 of the United States by order of best places to start a business. Virginia came in at Number 9, based on the fact that entrepreneurs can find potential employees with high education levels. According to the report, Virginia’s most impressive statistic for people starting a business is the Commonwealth’s business survival rate. Virginia has the highest ratio of businesses start-ups to businesses collapses, with nearly double the number of establishments that were opened to those that closed.
In addition to having a well-educated employment pool and businesses survival rate, Virginia is a great place to start a business based on a number of different factors:
It is estimated that around 70 percent of the world’ Internet traffic flows through data centers located in Virginia. With additional high-speed trans-Atlantic cables coming in from other parts of the world and the development of new and improved data centers, that number is continually rising.
Business incubators in Virginia are gaining traction while enrollment in entrepreneurship classes are exploding. This creates an increased competition for start-ups, but it also embraces a more business-oriented ideology.
Virginia enjoys a strong economy driven by technology and innovation. Boasting lucrative industries such as aerospace, agriculture, and due to a large military presence, Virginia’s economy is driven by some of the most advanced industries in the world.
The state is served by 14 commercial airports, The Port of Virginia serves routes to and from more than 250 ports around the world in 100 different countries, and there are more than 3,400 miles of railroad track in Virginia connecting business with the rest of the country. In other words, if you have a product that needs to be transported across the country or around the globe, Virginia is a fantastic starting point.
Virginia is also home to 504 Capital Corporation, a non-profit, Certified Development Company (CDC) of the U.S. Small Business Administration (SBA). We connect small business owners and entrepreneurs with investors to start or expand their businesses through SBA 504 loans, and we handle all of the paperwork to start, service, and close small business financing loans.
SBA 504 loans offer lower interest rates, higher loan amounts (from $125,000 to $20 million or more), and longer terms (10 years for equipment purchases and 20-25 years for real estate purchases, renovations, or site improvements) than loans a business might receive from a commercial lender. SBA 504 loans generally only required a 10 percent down payment from the borrower, so they are easier to get into, and they are fixed-rate loans with no balloon payments required at the end of the term.
504 Capital Corporation also operates under an Accredited Lenders Program (ALP) designation, which means we have increase authority to process, close, and service SBA loans, in addition to being able to expedite the process by pushing your application through more quickly if timing is critical to the success of your business.
If you’re looking for small business financing in Virginia, contact us.
Your business is our business. Your community is our community.
Invest in small business. Let’s grow together.
LEARN MORE ABOUT OUR SBA 504 LOAN PROCESS IN MARYLAND
RECENT LOAN FUNDINGS
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WHO IS 504 CAPITAL?
504 Capital Corporation was founded in 1983 with a mission of helping small businesses thrive, profit, and promote economic prosperity. We’ve been at it for more than 35 years and we’ve done a lot of good, but we’re not slowing down anytime soon—in fact, we’re growing.
We have expanded our service areas across Virginia state lines helping small businesses get an advantage of SBA CDC 504 loan program in Maryland. We look forward to serving a whole new range of customers while maintaining our excellent level of service for existing clients.
Your success is our success, and we can’t wait to help you succeed.
Purchase land or an existing building.
Build a new facility or renovate an existing one.
Make site improvements, finance soft costs and professional fees. even buy machinery or equipment.