Veteran-Owned Commercial Building Purchase
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
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
- This is the borrower’s first major loan and it could not have been completed without the SBA 504 program.
- The borrower’s service is in a unique position as currently being underutilized in the market.
- BLP was able to provide a fee reduction because this was a Veteran-Owned Business.