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Now is the time to take decisive actions and explore opportunities. One of these actions is expanding your business. Expansion, however, requires significant capital investment. Securing the right financing with a trustworthy financing partner is crucial.
The Small Business Administration (SBA) has several potential options to help business owners. SBA 504 loans in New York are powerful tools designed to help business owners with their capital requirements to purchase commercial real estate, heavy equipment, or machinery with low down payments and long-term fixed rates.
Whether you are looking to buy a warehouse, retail space, or manufacturing equipment, our SBA loan experts at Business Funding Group (BFG) can guide you through the entire process.
BFG has a long history of placing 504 loans in the New York and New Jersey area, and is familiar with the local CDC that must be involved.
Let us help you obtain the funding you need to secure your business’ future.
The SBA’s 504 loan program is a government-backed loan designed for small businesses seeking to invest in their long-term success.
In contrast to more traditional bank loans, an SBA 504 loan is structured as a partnership between a Certified Development Company (CDC), a conventional lender, and the borrower. The main benefits of the 504 loan program in New York include:
An SBA 504 loan’s greatest strength is making existing business expansion easy.
If you own a business in New York, an SBA 504 loan could provide the financing needed to:
With an SBA 504 loan, your company will be well-positioned to take advantage of this expansion opportunity.
The eligibility standards for an SBA 504 loan are achievable for most small and medium-sized businesses. The main criterion for an SBA 504 loan is that your company demonstrates the ability to repay the loan, based on tax returns and interim financials, and has good credit scores and credit history.
Any for-profit business with a tangible net worth under $20 million and an average net income below $6.5 million after federal taxes for the last two years could qualify to use an SBA 504 loan for eligible real estate or equipment purchases in New York.
In New York, securing an SBA 504 loan requires working with an experienced lending team that understands the complexities of SBA financing. At BFG, we handle all paperwork, approvals, and lender coordination to navigate the SBA process, resulting in faster approvals and closing times from the top lenders and CDCs.
The primary reason to work with our experts is that you and your business will receive loan solutions tailored to your personal needs. We recognize that every business is different, and our financing strategies reflect that.
Our knowledge and working relationships with these CDCs in the New York area can help you get your loan accomplished as fast as possible.
If you are ready to grow your business, Business Funding Group is here to help you secure an SBA 504 loan in New York that fits your vision and goals. Use our SBA loan calculator to get a quick estimate of your loan options and start planning for your business’s expansion today.
Contact one of our loan specialists today for a free consultation, and let us help you finance your business expansion.
(917) 593-5013