A Premier SBA 504 Lender
Carol Brennan (CT, MA) 860-218-2912 ext 204
Field Rider (NH, VT) 207-773-3104
Nancy Gibeau (RI, MA) 508-254-7891
John Figmic (Eastern MA) 781-928-1122
Liz Trifone 781-928-1100 x 102
| SBA 504 Program Debenture Rates–July: |
| 20 Year Term - Real Estate.....................................3.80% |
| 10 Year Term - Machinery & Equipment.................2.44% |
| 504 Effective* Rates for July (*includes ongoing fees) |
| |
| 20 Year Term - Real Estate.....................................5.67% |
| 10 Year Term - Machinery & Equipment.................4.72% |
New England Certified Development Corporation (formerly known
as MassCertified), an affiliate of BDC Capital,
offers the popular SBA 504 program to businesses for owner-occupied
property.
SBA 504 loans may be used for:
- The purchase of land and buildings
- New construction, renovation and leasehold improvements
- Acquisition of machinery and equipment
- New England Certified consistently receives the highest rating from the SBA
Borrowers Get Low-Cost Fixed Rates With
Longer Terms And Low Down Payments. With an SBA 504 loan, a borrower obtains a first
mortgage loan for usually 50% of the project from a bank. There
is no maximum dollar amount.
New England Certified then provides a secondary
loan (called a debenture) for the next 40%. Certain manufacturing
entities are eligible for up to a $4 million debenture. All other
industries are capped at $2 million. Up to 90% financing means the
borrower typically provides only 10% equity for the project. Loan
terms may extend as long as 20 years, and low fixed interest rates
(fixed for 20 years for real estate; 10 years for equipment) are
available on up to 40% of the project.
Banks Get Better Flexibility and
Protection. These practical loans
allow banks to offer complete financing for their customers, while
maintaining a 50% loan-to-value position. If needed, BDC Capital can
participate in the bank’s first mortgage,
with an "early out" provision for
the bank. New England Certified will:
- Organize your application and complete your paperwork
- Provide the financing
- Process, close and service your loan
Eligibility. To qualify for this highly advantageous financing
package from New England Certified, your business must:
- Be located in one of these New England states: Connecticut, Massachusetts, New Hampshire, Rhode Island or Vermont
- Operate for profit
- Have a tangible net worth of $8.5 million or less
- Have an average net profit of less than $3.0 million over the last two fiscal years
To receive notice of the monthly SBA 504 effective interest rate
by e-mail, send a request to Carol Brennan at cbrennan@newengland504.com.
500 Edgewater Drive, Suite 555
Wakefield, MA 01880
Tel: 781-928-1100 | Fax: 781-928-1101
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