What is a 504 Loan?
The most important thing to know is that if you are purchasing a fixed asset such as real estate, facilities construction or expansion, equipment, or other major fixed assets, then a 504 loan is what you are looking for.
504 loans work best for businesses falling into SBA-size ranges, and they’re especially good for owners who would like to reduce how much real estate and equipment costs them. There are more than enough funds available.
However, the main challenge of getting a 504 Loan is that it’s only meant to fund businesses within a certain community. The funds are provided to Certified Development Companies (CDCs), who are responsible for distributing them. Read More>>
The friendly folks at NEDCO make the entire application process seamless and painless.
Joe RivielloAroma Cafe
Financially speaking, the use of the 504 Loan Program that NEDCO offers has been a tremendous help and a remarkable experience.
Ray PettyRay's Shursave Markets
The assistance from NEDCO and the SBA was very important to seeing this project come together and ultimately being completed. Our family is very pleased to offer such a beautiful shopping experience to our customers, and it may not have been possible without the help of NEDCO and the SBA.
Christopher KinsleyKinsley’s ShopRite
With the help of First National Community Bank and Northeastern Economic Development Company, we were able to make this vision a reality and work with people who have always put our best interest first.
Rakesh PatelMotel 6
The use of the SBA 504 loan product allowed us to only need to put a 10% down payment into the project, which allowed R.C. Moore to keep valuable working capital in the company.