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Veteran Owned SBA 504 Case Study

Veteran-Owned Commercial Building Purchase

September 5, 2019
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Small Business Administration (sba) 504 Loan

The SBA 504 loan program partners with a financial institution to create an attractive financing package to benefit businesses. Working together with the SBA and Business Lending Partners, growing businesses throughout Wisconsin can receive affordable, long-term, fixed-rate financing to expand operations and create job opportunities.

1st time Commercial Building Purchase

This SBA 504 loan was recently approved to assist a Veteran-Owned company with the purchase of a commercial building, doubling the size of the company’s existing location, allowing them to streamline operations from a processing standpoint.

As a result of project completion, this company will create four full-time jobs in the next two years. Utilizing the SBA 504 Loan Program, in partnership with Robert Pieroni at Community State Bank, this company found the ideal financing solution to meet their growing needs.

Borrower was facing capacity issues as they are operating out of storage units as well as their personal residence. The loan will go towards the purchase of a new building, more than doubling the size of their current workspace.

  • Source of Equity: Business Cash/ Line of Credit
  • Term: 20 years
  • Rate: TBD

WHAT WAS UNIQUE ABOUT THIS LOAN? - Thomas Van Gent, Loan Officer

thomas van gent
  1. This is the borrower’s first major loan and it could not have been completed without the SBA 504 program.

  2. The borrower’s service is in a unique position as currently being underutilized in the market.

  3. BLP was able to provide a fee reduction because this was a Veteran-Owned Business.

LOAN STRUCTURE

50%
BANK
40%
SBA 504
10%
EQUITY

SBA 504 CONSIDERATIONS

  • Size Standard: Net worth < $15million and PAT < $5.5 million
  • SBA Capacity: $128,000 SBA 504 loan
  • Job Creation/Retention: Creating 4 jobs over 2 years
  • Occupancy: 100% used for the business
  • Veteran-Owned Business

Contact Us with your business financing needs

Thomas Van Gent
Thomas Van Gent
Senior Loan Officer
Thomas has been with BLP since 2015. Thomas conducts credit analysis and application processing for BLP. He also assists in maintaining the business loan portfolio.
Racine Office262.898.7434thomas@blp504.org
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