About Our Business Loans
A 504 loan allows business owners to take control of their assets and fully own everything they need to work. This helps prevent them from throwing money into renting or leasing and saves them money in the long run. Plus, the down payment on these loans is 10%, much less than you will find with a similar loan from a bank. Going through the SBA also alleviates some of the fees you will find in similar loans.
Since the loan is backed by the government, it is a secure way to borrow. The long term options (10, 20, or 25 years) allow you to pay back at your pace and in a way that fits your business.
So are you eligible? Well that depends. Here is a list of ways to utilize a 504 Loan:
- Acquisition of vacant land
- Building construction
- Acquisition of existing buildings
- Major renovations and/or additions to existing building
- Marine facility acquisition, including fishing vessels and commercial boats
- Purchases of capital equipment, including heavy machinery
- Associated costs such as title and insurance, legal fees, appraisals, environmental reports, architects fees, surveys, equipment installation, points on bridge loans, furniture and fixtures, etc.
Want more information? Call Cascade Capital Funding and our experienced team to learn more.