Your Small Business Loan Connection Is Here
If you’re looking for a way to access the great loan packages available through the Small Business Administration’s 504 loan program, you need to find yourself a preferred lender who can streamline the process by handling their own approvals. Luckily, Hopp Commercial Lending is just such a lender. When you use preferred lenders, you can also apply through more than one if you need to, so you have a better chance of getting a decision quickly.
Get Facilities For Your Operation
One of the things the SBA is best at is connecting small companies to facilities they own. Your own building is a great asset, because it not only provides a source of working capital down the road through secured credit lines and refinancing options, it also gives you the ability to stop paying rent and move into a facility that is your own. The best part? As long as you occupy the majority of the floor space, you can still rent some of the property for even more income.
Acquire Existing Businesses
You can also access a small business loan to help you acquire an existing company as long as it qualifies as a small business under the program’s requirements. The Administration makes the preservation of thriving small businesses a priority.
- Business income under $1.25 million annually
- Healthy financials
- Provides jobs in the community
- 80 percent LTV available
Get the Equipment You Need
Equipment loans don’t often provide new companies with access to the best funding because you need two years of operating history to qualify for the best rates and longest terms. That is, unless you go with a loan through an SBA provider. Guaranteed loans provide long repayment terms, as long as 25 years in many cases, allowing you to get your essential equipment while controlling your monthly overhead.
For more information about qualifying for small business loan options this program, contact us today. Our associates are happy to help.