U.S. Military Veterans are eligible for commercial financing with the SBA 504 Loan Program.
The 504 is a commercial real estate loan primarily designed for business expansion. Veterans can use the 504 to:
- Purchase real estate to house their business
- Expand or remodel an existing facility
- Purchase equipment with a useful life of at least ten years
- Refinance an existing, qualifying commercial loan as part of a NEW business expansion project
- Perform GREEN or Renewable Energy improvements
Why is the 504 a good choice?
- It offers long-term, fixed-rate financing fully amortized for the life of the loan with no future balloons, re-qualifying or refinancing required.
- It allows a 10% down payment/equity in most cases whereas conventional loans may require 25%-30% down
- Closing costs and soft costs can be included in the financing
For more information about the 504 Loan Program, to determine an estimated monthly payment, or for application forms, go to www.GrowthCorp.com.
No comments:
Post a Comment