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How To Qualify And Apply For An Sba 504 Loan?

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!

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How To Qualify And Apply For An Sba 504 Loan?

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  1. 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.

  2. 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 Ability—You will be required to show that you can reasonably afford the monthly payments of your loan • Clean Financial History—In addition to not having a lot of outstanding debt, you should also not have a history of recent bankruptcies, foreclosures, or tax liens.

  3. 504 Capital Corporation is a leading CDC working under the ALP designation. When you’re 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.

  4. 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 borrower’s through every step of the way, and answer any questions.

  5. 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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