How to qualify and apply for an SBA 504 loan? - PowerPoint PPT Presentation

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How to qualify and apply for an SBA 504 loan?

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To qualify for an SBA 504 construction loan, you need a good credit score, limited outstanding debt, down payment, proof of payment ability and clean financial history. To apply for an SBA 504 Loan, contact lending specialists at 504 capital Corporation now! – PowerPoint PPT presentation

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Date added: 22 September 2020
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Provided by: 504capitalcorp
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Title: How to qualify and apply for an SBA 504 loan?


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How to Qualify and Apply For an SBA 504 Loan?
  • The Accredited Lenders Program is a superior
    designation for Certified Development Companies
    that have reached a high standard for processing
    and servicing SBA 504 Loans.

3
To qualify for an SBA 504 construction loan, you
must meet the following conditions
  • Credit Score You need to have a credit score of
    680 or higher
  • Limited Outstanding Debt Your Debt Service
    Coverage Ratio should be no lower than 1.25
  • Down Payment You must be able to satisfy the
    down payment requirement
  • Proof of Payment AbilityYou will be required to
    show that you can reasonably afford the monthly
    payments of your loan
  • Clean Financial HistoryIn addition to not having
    a lot of outstanding debt, you should also not
    have a history of recent bankruptcies,
    foreclosures, or tax liens.

4
  • 504 Capital Corporation is a leading CDC working
    under the ALP designation. When youre ready to
    apply for an SBA 504 Loan, our lending
    specialists have the experience and dedication it
    takes to take your loan from application to
    approval.

5
We work with the SBA and CDC lenders in Maryland,
Virginia and North Carolina to connect them with
small business owners looking for financing
through CDC business loans. We handle all the
paperwork, walk borrowers through every step of
the way, and answer any questions.
6
Contact Us
https//504capital.com/
Main-VA 501 Independence Parkway, Suite
330Chesapeake, VA 23320 Phone No. 757-623-2691
Richmond, VA 406 West Franklin Street, Ste.
208Richmond, VA 23220 Phone No. (804) 513-2952
North Carolina 4208 Six Forks Road Suite
1000Raleigh, North Carolina 27609 Phone No.
919-645-5735
Maryland 8403 Colesville Rd 1100Silver Spring,
MD 20910 Phone No. 240-638-2713
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