Reason 1: Down payments are much more reasonable Compared to convention loans, the SBA 504 Loan Program only requires 10% down—making it a much more affordable option for small business owners. Conventional loans may require down payments that are 2-4 times greater than what the SBA 504 loan requires. Reason 2: A low, fixed [...]
The U.S. Small Business Administration recently announced a partnership with the Veteran Entrepreneurial Training and Resource Network (VETRN) to establish a pilot training program for military veterans who are small business owners and their immediate family members. The Veteran Owned Small Business Growth Training program will equip these entrepreneurs with the resources and networks necessary to [...]
According to a recent article by Forbes, the City of Los Angeles has joined Orlando, Nashville and Baltimore in formally including businesses owned by members of the lesbian, gay, bisexual, transgender and queer community in the contract process. It's a move involving billions of dollars. The policy, which was approved by the city, not only [...]
The U.S. Small Business Administration recently issued an interim final rule that will adjust monetary-based small business size standards for inflation to allow more small businesses to become eligible for the SBA’s loan and contracting programs. The interim final rule was published in the Federal Register on July 18, 2019. The SBA is adjusting its [...]
Recently, Patricia "Patti" Kibbe, NADCO Board Secretary and Executive Committee Member as well as President & CEO of Evergreen Business Capital, testified before the United States Senate Small Business and Entrepreneurship Committee during a hearing titled, "Reauthorization of the SBA's Access to Capital Programs." "It was a true honor to represent the 504 industry and Certified [...]
What makes Los Angeles a top-choice for owning and running a small business? A few months ago, Forbes asked that very question to a select group of Forbes LA Business Council members to hear their takes on what makes LA great. This city has a lot to offer business owners, including easy access to the global market and tons [...]
Every four years, the SBA releases a strategy document for the current and upcoming years. In the document Strategic Plan FY 2018-2022, the SBA renews its commitment to providing relevant products and services to America’s small businesses. Once every four years, the Small Business Administration releases a document that outlines the agency’s strategy for the [...]
It's 2020...are you looking to go green and purchase or build commercial real estate that meets the SBA’s green standards? If so, here’s what you need to know. SBA Green 504 Loan has multiple benefits: It allows for both larger SBA loans and multiple SBA loans to the same applicant(s). The Green 504 loan is [...]
By Dan Nordberg Recently, President Trump highlighted the importance of our nation’s veteran entrepreneurs and provided the U.S. Small Business Administration with the donation of his second-quarter salary that will go toward helping our nation’s veterans transition from military service to small business ownership. Specifically, the funds will assist the SBA with creating a seven-month [...]
Business Finance Capital, a California-based Certified Development Company (CDC) administers SBA 504 Loans on behalf of the Small Business Administration. The loan is particularly attractive to small business owners because it features a below market, long term FIXED rate and only requires a 10% down payment. The requirements to qualify for an SBA 504 [...]
