504 SUCCESS STORIES
    With higher loan limits, expanded eligibility standards, and a new debt refinance option, more busineses are now able to utilize the 504 than ever before.
    One such business owner is Elaine Krieger, President of Krieger Kiddie Corporation and recipient of SBA's National Entrepreneur of the Year Award.  Krieger has utilized the 504 Loan Program multiple times in her journey toward owning and operating eleven retail franchises throughout the Greater Chicago area.  Krieger used the 504 to her advantage as it allowed her to preserve capital during the expansion process.  The capital was then used for hiring employees and purchasing inventory.
WELCOME

Growth Corp’s 504 Loan Program helps provide small businesses with better access to money for expansion than would otherwise be available through conventional financing. The 504 Loan Program is available to most businesses for the purchase, construction, or expansion/renovation of buildings and/or the purchase of equipment.

We hope our website will be a helpful tool for gaining information on small business financing. If you need more help, please contact our office and we would be glad to assist!



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Jan. 2012 Loan Rate
4.59%
20-Year Fixed Term
3.94%
10-Year Fixed Term
4.76%
20-Year Refinance Rate
4.11%
10-Year Refinance Rate
WHAT'S NEW
CHECK THIS OUT…ENHANCED DEBT REFI PROGRAM

If you haven't consiered using the 504's Debt Refi Program before, you should now.  On October 12, 2011, SBA's updated regulations for the 504's temporary Debt Refinance Program were published in the Federal Register and became effective immediately.  While the program is still set to expire on September 27, 2012, the following is a summary of the most notable changes:

  •  The minimum amount of the Third Party Lender Loan has been amended to allow businesses to take greater advantage of the 504's low fixed rates
  • SBA will now permit borrowers to use their equity to finance eligible business expenses
  • SBA's definition of "current on all payments" has been amended
  • The Qualified Debt Criteria has been amended to significantly reduce the documentation requirements or "genealogy" of the loan when there has been previous refinancing(s).

 

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