Working with SPEDCO

  • SPEDCO has originated over 790 SBA 504 loans totaling more than $324,587,000.

  • EMPLOYMENT IMPACT:  Over 24,056 jobs have been created and/or retained by borrowers who have closed SBA 504 loans with SPEDCO.

  • Since 2007, SPEDCO Economic Development Foundation has given approximately $820,405 in grants to 33 different organizations.

Working with SPEDCO

SPEDCO partners with financial institutions, real estate companies, mortgage brokers, attorneys, CPA’s and their clients to help them structure an SBA 504 loan to purchase land, build or expand facilities or purchase long term equipment.

There are many cost advantages to an SBA 504 loan, for example:

  • Low down payment – which is at least 10% of the total project cost.
  • Long term, below-market fixed interest rate on real estate and equipment.
  • Refinancing – In some circumstances, refinancing of existing debt related to fixed assets.

So not only can a borrower afford the financing needed to buy or build, but they also keep more cash for business expansion. Plus, a real estate purchase with a fixed-rate SBA 504 loan also offers the borrower a lower, more predictable occupancy cost.