Links & Resources for Businesses impacted by COVID-19 Presented by Business Finance Capital As we continue to forge ahead during this crisis, please refer to the following links and resources for additional information. Also, please feel free to contact us here at BFC as needed. Call: 1-800-SBA-REAL Updated 4/7/2020 SBA 504 LOAN RELIEF INFORMATION: [...]
The SBA 504 Loan has three components: 1) direct commercial loan from the private sector covering 50 percent of the project, and secured by a senior lien. 2) a loan secured with a junior lien from a CDC (like us at BFC) covering up to 40 percent of the cost, and backed by a [...]
At BFC, we're always excited to share the news when a new team member joins our team. Please welcome Lee Kleinman, as BFC's newest Business Development Officer. Kleinman comes to BFC with more than 30 years’ experience in commercial lending throughout California, having served most recently as Senior Vice President, Senior Commercial Lender for Wells Fargo. As we [...]
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 [...]
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 [...]
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 [...]
The SBA 504 Loan Program ("the 504" for short) gets a bad rap sometimes. True, the Small Business Administration has some stringent eligibility requirements and the process can be exhaustive, but that doesn't mean it's not attainable for the thousands of businesses that qualify every year. Let's look at FIVE common misconceptions regarding the 504: [...]
