504 LOANS FINANCE
SMALL BUSINESS RESOURCES
Agencies like SBA, SCORE and America’s SBDC are driving economic development by helping small businesses expand.
As a proud provider of SBA’s 504 Loan Program, Growth Corp is also pleased to be associated with these other great organizations:
U.S. Small Business Administration
Since its founding on July 30, 1953, the U.S. Small Business Administration has delivered millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.
SCORE Small Business Counseling
SCORE is a nonprofit association dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship. Because their work is supported by the U.S. Small Business Administration (SBA), and thanks a network of 10,000 volunteers, SCORE is able to deliver its services at no charge or at very low cost.
Small Business Development Center
Small Business Development Centers (SBDCs) provide a vast array of technical assistance to small businesses and aspiring entrepreneurs. By supporting business growth, sustainability and enhancing the creation of new businesses entities, SBDCs foster local and regional economic development through job creation and retention. As a result of the no cost, extensive, one-on-one, long-term professional business advising, low-cost training and other specialized services SBDC clients receive, the program remains one of the nation’s largest small business assistance programs in the federal government . The SBDCs are made up of a unique collaboration of SBA federal funds, state and local governments, and private sector resources.
Accion helps communities grow by investing in people who build businesses and generate jobs in their neighborhoods. This organization provides customized capital solutions and one-on-one coaching to under-served entrepreneurs in Illinois and Northwest Indiana.
National Association of Certified Development Companies
The National Association of Development Companies (NADCO) is the trade association of SBA Certified Development Companies (CDCs) and other lenders delivering SBA loans and financing for small businesses.
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Billion Financed in Illinois
Jobs Created or Retained for Illinois
Cost of the Program to Taxpayers
The Results of the 504 Are Amazing
The 504 Loan Program is the U.S. Small Business Administration’s (SBA) most successful economic development tool. It promotes economic development by providing long-term, fixed rate financing to healthy expanding businesses that have the highest probability of increasing productivity, creating new jobs, and successfully competing in their market.
The 504 program makes growth a viable option for small businesses, creating new employment opportunities for the community which otherwise wouldn’t be available. The 504 also offers additional funding to businesses meeting public policy goals such as women, minority, or veteran ownership.
The objectives of SBA’s 504 Loan Program are quite simple: promote economic development, increase job creation and contribute to the growth and expansion of small businesses.
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SBA 504 LOANS
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