The U.S. Small Business Administration will officially open the Shuttered Venue Operators Grant (SVOG) application portal tomorrow, April 8, 2021, for operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some [...]
The Small Business Administration (SBA) 504 Loan Program completed its largest monthly funding of loans in the program's 34-year history, including 1,462 loans for $1,284,274,000 – more than double the previous record set in September 2012. Historic levels of 504 loan closings and fundings were driven by record low interest rates and debt relief provided by [...]
A discussion about the Paycheck Protection Program (PPP) from an SBA Lender’s Perspective. Stephanie Chung Business Development Officer at Business Finance Capital D: 925.900.3344 E: stephanie@bfcfunding.com 1. The PPP experience has been a challenge from the perspective of a borrower, but what has the experience been like on the lending side? How has your [...]
The SBA's 504 Loan Program helps small business owners save capital by requiring only a 10% borrower contribution. How it works is the SBA authorizes CDCs (that'd be us here at BFC) to provide financing to small businesses with the help of third-party lenders (conventional banks). Here's a quick primer on how it works as [...]
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 [...]
Despite what you may have heard or think, the rumor about SBA loans taking forever to close isn’t true! It’s possible certain things can slow down the process, but with adequate preparation, the loan process can move much more quickly. Speaking of slowing things down, it’s not uncommon for borrowers to mix up their personal [...]
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 [...]
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 [...]
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: [...]
Are you looking to finance the purchase of new real estate or machinery for your business? Or, maybe you’re seeking to make upgrades to your facility? If so, the Small Business Administration’s 504 Loan Program offers additional financing options in tandem with a conventional bank loan to several types of small business owners. How [...]
