Seedcopa Ranked Number One for SBA 504 Lending in Eastern Pennsylvania

Seedcopa Ranked Number One for SBA 504 Lending in Eastern Pennsylvania

EXTON, PASeedcopa is once again the #1 SBA 504 Lender in Eastern Pennsylvania. The U.S. Small Business Administration ranked Seedcopa #1, with projects totaling more than $92 million. Forty-two loans were approved totaling more than $37 million in fiscal year 2021.

Seedcopa is the regional financing affiliate of the Chester County Economic Development Council. Seedcopa was able to support even more borrowers this year with an increase of 53% over last year’s loan volume. Nationwide loan volume increased 41% for the flexible, low-interest SBA 504 loan program.

For loans spanning the Mid-Atlantic region,  Seedcopa worked with 46 borrowers, approving total loans of more than $43 million in fiscal year 2021, with total projects at $115 million.

“There’s no doubt that this has been a rollercoaster of a year for businesses large and small, and it has been extremely gratifying for Seedcopa and its bank partners to offer savings as well as stability with the lowest interest rates available from reputable, trusted lenders,” says Seedcopa Managing Director Sherwood Robbins. “Getting capital into the hands of our small business owners is always the priority.”

Over the past 20 years, Seedcopa has been the top SBA 504 lender numerous times, with this year’s loans spanning almost double the usual number of counties throughout the region including Allegheny, Berks, Bucks, Camden, Chester, Clearfield, Cumberland, Dauphin, Delaware, Lancaster, Lehigh, Montgomery, New Castle, Northumberland and Philadelphia.

Seedcopa helps businesses attain the financing they need through SBA 504 loan projects to purchase, construct, renovate or expand on new or existing land, as well as to purchase machinery and equipment. SBA 504 is the Small Business Administration’s fixed-rate loan program for small- to mid-sized business owners, and such loans often act as a complement to conventional, commercial loans that Seedcopa facilitates through local banks and credit unions. A typical SBA 504 loan structure requires a contribution from the business owner of only 10%. A third-party lender, like a bank or credit union, contributes 50% of the project cost. The SBA-backed portion of the loan is 40%.

READ:  CFPB Exam Reveals Illegal Collection Tactics by Student Loan Servicers

A complete listing of Seedcopa’s suite of loan programs and success stories can be found at https://seedcopa.com/.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News.

Thanks for visiting! Looking for some Chester County pride? We got you covered! Shop our MyChesCo store and show your love for Chester County, Pennsylvania. We got shirts, hats, and more – all with a unique ChesCo flair. Plus, proceeds from each purchase helps support our mission of bringing reliable information and resources to the people of Chester County.