504 Corporation
Financial Services in Rochester, MN
504 Corporation is a nonprofit organization certified by the U. S. Small Business Administration (SBA) to supply financial assistance to tiny businesses. As an SBA Certified Development Company, 504 Corporation works with SBA and lenders to provide the 504 Loan Program to tiny businesses. The team helps businesses with local, state and federal financing programs and supplies general business assistance. The 504 loan program's primary mission is to provide and retain jobs.
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504 Corporation
read moreIn conjunction with the U.S. Small Business Administration (SBA), 504 Corporation finances business' commercial real estate, equipment purchases, and refinances debt used to purchase real estate and equipment. The down payment is normally 10% with startup business and single purpose buildings required to pay 15% to 20%. 504 rates are fixed for the full term of the loan (10, 20, or 25 years) and are similar to a bank's five year fixed rates. These 504 loans finances up to 40% of costs with your bank financing 50% for a total of up to 90% financing.
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