The 504 Loan: The Perfect Way to Start Your Business

So you’ve got a great business idea, but you don’t have the money to get started?

Don’t worry, you’re not alone. Millions of new businesses & entrepreneurs face this same challenge every year. Here’s the good news: there’s a loan program that can help you get the financing you need to start your business, even if you don’t have a lot of collateral.

It’s called the 504 loan, and it’s offered by the U.S. Small Business Administration (SBA). 504 loans are long-term, fixed-rate loans that are backed by the SBA. This means that they have lower interest rates and are more likely to be approved than traditional bank loans. This is where we can help facilitate things in a rapid way with our partnership with the SBA.

504 loans can be used to finance a variety of assets, and here at Capital Access we have a focus in real estate and equipment lending. Giving you the flexibility to finance the things you need to get your business off the ground.

If you’re thinking about starting your own business, we encourage you to consider a 504 loan. It’s a great way to get the financing you need to succeed.

Here are some tips for getting a 504 loan:

  1. Do your research: Before you apply for a 504 loan, it’s important to understand the program and the requirements. Our website has a lot of resources to help you get started.
  2. Check your eligibility: Once you’ve done your research, it’s a good idea to check if you are eligible for a 504 loan. This will give you an idea of how much money you can borrow and what your interest rate could be. See our breakdown here.
  3. Work with a Certified Development Company (CDC): CDCs are nonprofit organizations that are authorized by the SBA to administer 504 loans, that’s us! We can help you through the application process and make sure you’re a good fit for the program.

Starting your own business is a big challenge, but it’s also incredibly rewarding. With the help of a 504 loan, you can make your dream a reality.

Learn more by contacting us now or check eligibility below.