EXTON, PA — For a third consecutive year, Seedcopa + SeedcoDE has been ranked as the #1 SBA 504 Lender in Eastern Pennsylvania by the U.S. Small Business Administration, attaining the most SBA 504 loans for small- to mid-sized businesses in the region. Through its flagship SBA 504 loan program, Seedcopa helps businesses obtain government loans at below-market, fixed-interest rates for buying, building or improving owner-occupied commercial property or to purchase machinery and equipment.
According to the SBA Eastern PA District Office’s year-end loan volume reports:
- Seedcopa supported 46 small business owners in the past fiscal year with SBA 504 loans
- Loans spanned 10 counties: Berks, Bucks, Chester, Delaware, Franklin, Lancaster, Lehigh, Montgomery, Philadelphia and York
- 37% of businesses assisted were minority-owned, women-owned or veteran-owned
- The average SBA 504 loan was $896,217
- Total SBA 504 loan projects were $41,226,000
- Total projects were about $4 million higher than in the previous fiscal year
Nationally, the U.S. Small Business Administration has announced that the SBA 504 Program reached more than $100 billion in all-time loan funding last month. The total impact, which includes financing from third-party lenders, has supported over $250 billion in local economic development across the nation.
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%.
A complete list 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 and Microsoft Start.