SBA 504 Loan Program
Cascade Capital Funding has been helping Oregon businesses obtain SBA 504 financing since 1983. We work closely with the bank or credit union of your choosing to make the loan. Because you can usually keep your out-of-pocket costs to 10 percent of the project costs, you can preserve your working capital for other needs. Most importantly, you are able to move forward with buying a building, constructing a new facility that better meets your needs or adding equipment to improve your productivity.
The SBA 504 Loan Program offers small business owners affordable long-term fixed rate financing. We partner with your bank or credit union to put the project together. Your financial institution provides the first mortgage for 50% of the project costs, the borrower injects 10% and the CDC will provide financing for the balance of the 40% in second lien position with the SBA guaranteed loan.
Low Down Payments Enhances Cash Flow
With financing available for up to 90% of the project cost for commercial real estate, the SBA 504 program offers small business owners the ability to conserve working capital and maintain operating needs.
Long Term Financing
The SBA 504 Program offers 20 year fixed rate financing for real estate purchases and new building construction, enabling small businesses to pay for a new facility over a long-term with predictable monthly payments for the term of the loan.
The SBA 504 Program offers 10 year fixed rate financing for the purchase of long-term machinery and equipment.
Small Business Loan Program
Cascade Capital Funding also offers an in-house program for smaller business loans ranging from $25,000 to $50,000 max. We give preference to small businesses that have obtained other project financing from private and public lending sources.
Acquisition of real estate, machinery and equipment, inventory, furniture & fixtures and working capital may be financed through this program. All loans must be fully secured with business and/or personal assets or guarantees.
Interest rates will be a minimum of 5% and may be either fixed or floating, rates will be set by Cascade Capital Funding at the time of application. Loan terms are 20 years for real estate and 10 years or less for all other purposes.
The borrower is responsible for all closing costs and a loan processing fee of $250 or 2% of the loan amount, whichever is greater. In addition, the borrower will a pay a $10 monthly servicing fee for the life of the loan.
Credit requirements must be met. Cash flow, management expertise, credit history and collateral will be factors in determining loan approval.