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Fulfill Community Reinvestment Act Credits with SBA 504

For banks interested in obtaining Community Reinvestment Act (CRA) Credits, there are new changes ahead that will make it easier!  On October 24, 2023, the Federal Reserve, the FDIC, and the OCC issued a Final Rule amending the agencies’ Community Reinvestment Act...

Planning to Grow Your Business in the New Year?

With the turn of a new year, are you thinking about seizing new opportunities to grow your business?  That’s why the U.S. Small Business Administration (SBA) developed the 504 Loan Program…to offer business owners a more affordable and accessible way to grow and...

35-YEAR COMMITMENT TO SMALL BUSINESSES

Growth Corp, a mission-driven Certified Development Company (CDC), is proud to continue its 35-year commitment to connecting local small businesses with access to quality capital.  As many businesses struggle to find affordable growth financing in this higher-rate...

SBA 504 Loans Qualify for CRA Credits

For banks interested in obtaining CRA Credits, there are new changes ahead that will make it easier!  On October 24, 2023, the Federal Reserve, the FDIC, and the OCC issued a Final Rule amending the agencies’ Community Reinvestment Act (CRA) regulations. The agencies...

SBA 504: It Matters Which CDC You Work With

When it comes to SBA 504 Loans, it matters which Certified Development Company (CDC) you work with.  Those who have investigated the U.S. Small Business Administration’s (SBA) 504 financing options have probably seen a reference to a Certified Development Company...

Dispelling the Myths About SBA 504 Loans

Dispelling the myths about SBA 504 Loans is important so that small businesses don’t miss out on an incredible financing opportunity.  In Fiscal Year 2023, more than 5,900 SBA 504 Loans were made to businesses nationwide, totaling $6.4 billion.  Despite this...

SBA 504 – Change of Ownership

Recently, we’ve received more questions regarding the eligibility of financing a change of ownership (the buyout of a business partner) under the SBA 504 Loan Program. The SBA 504 was designed for small business owners to finance commercial real estate and...

SBA 504 Refinance Program Now Easier to Use

SBA published in the Federal Register a Final Rule on the SBA 504 Refinance Program that made the program easier to use.  The effective date of the Final Rule and changes is November 13, 2023.   SBA 504 Refinance Improvements Include The program is able to...

Understanding SBA 504 Pre-Payment Penalties

The SBA 504 pre-payment penalties are often misunderstood by both borrowers and industry professionals.  A question we often get is:  “Are there pre-payment penalties with SBA 504 Loans”?  The answer is yes, but it’s not as bad as you might think....