The SBA 504 program is a fixed asset financing program for expanding small business. These loans, administered by the Altoona-Blair County Development Corp., in conjunction with lenders throughout PA, stimulate the development and growth of small businesses.
ABCD Corp. is licensed to facilitate the SBA 504 program throughout the state of Pennsylvania and currently has agreements with 18 counties to co-market and administer this program to their small businesses. Those counties are; Armstrong, Bedford, Blair, Butler, Cambria, Clarion, Crawford, Cumberland, Franklin, Fulton, Huntington, Indiana, Jefferson, Lawrence, Mercer, Somerset, Tioga and Westmoreland. These partnerships provide our clients access to a local contact along with a wider array of state and local financing options in addition to the SBA 504 program.
The program can be used by small businesses to fund; Land Acquisition, Building Construction, Building Purchase, Leasehold Improvements, Equipment and more. The structure of the loans are established as: 50% Lender – 40% SBA 504 – 10% Business. The limits for lending under the program are: – Up to 40% of Eligible 504 Project Costs – $5,000,000 for Typical Projects – $5,500,000 for Qualifying Manufacturing and Energy Related Projects
To find out more details as well as the benefits of utilizing this program for not only the small business owner, but the lender as well, please contact Barry Surma or Paul Cooney at ABCD Corp. by calling 814-944-6113.
