Small businesses thinking about purchasing or renovating commercial estate that is real buying gear to cultivate or expand their businesses should think about the U.S. Small company Administration’s (SBA) 504 Loan Program. The 504 loan provides small enterprises usage of the exact same style of long-term, fixed-rate funding enjoyed by larger businesses. Rates of interest are equal to favorable bond market prices.
Most Maryland companies could be qualified to receive this loan program. The 504 Loan Program defines a company as little if its web worth is under $7 million and web earnings, after fees, are under $2.5 million. Virtually any types of genuine business is qualified to receive 504 funding, including production, wholesale, solution, expert service or retail.
A 504 loan enable you to purchase fixed assets such as for instance: land and improvements, including owner-occupied structures, grading, road improvements, utilities, parking lots and landscaping; construction of the latest facilities, or even to modernize, renovate or transform current facilities; or even buy long-lasting equipment and gear with a good lifetime of at the very least ten years. (więcej…)