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The 504 Loan Advantage PDF Print E-mail


No Surprises...From Start To Finish. BDFC seeks to achieve the highest standards of customer service. Our core value is “no surprises”. That’s why our BDFC team is available to answer any questions throughout the term of the loan. Click here for a brochure that explains the benefits of the 504 SBA loan program.

 

 

APPLICATION

We provide a preliminary loan approval within 24 hours, upon receipt of the BDFC loan application, 3 years business financial statements or tax returns, a schedule of business debt and authorization to obtain credit reports.

CLOSE OF ESCROW

The BDFC project team collaborates with the bank and the borrower to obtain final SBA 504 loan approval and achieve the scheduled close of escrow date.  BDFC records its loan documents at bank close of escrow.

SBA 504 LOAN FUNDING

The SBA 504 loan is funded to pay off the bank’s interim loan when the project is completed and a Certificate of Occupancy is obtained.  BDFC can fund it’s SBA 504 loan as quickly as 45 days from time of occupancy.

The interest rate on BDFC’s SBA 504 loan is determined a week before the scheduled funding date.  Loans are funded once per month and loan payments begin on the first day of the following month.