In addition to the 10-year and 20-year maturities available with 504 loans, SBA is now offering a 25-year option. The goal of this extended maturity is to decrease the monthly payments for those small businesses looking to better manage their operating capital. The 504 Loan Program requires a partnership between TxCDC and a lending institution, so there's no need to give up that lending relationship you've grown comfortable with.
With the 504, borrowers take advantage of a low interest rate, which is fixed for either 10, 20 or 25 years. With the 504, borrowers do not have to concern themselves with saving the large amount of cash necessary for a balloon payment. This eliminates the need for refinancing, additional appraisals and deterioration in property values.
With the 504, borrowers take advantage of a low interest rate, which is fixed for either 10, 20 or 25 years. With the 504, borrowers do not have to concern themselves with saving the large amount of cash necessary for a balloon payment. This eliminates the need for refinancing, additional appraisals and deterioration in property values.
Services
At TxCDC we're all about creating jobs. We know one of the greatest challenges faced by small business is access to capital. That's why we make it easy to eligible small business owners to apply for loans to use for fixed assets (such as building acquisition, construction or expansion, land purchases and site improvements) or major machinery or equipment to grow their business.
A US Small Business Administration (SBA) 504 loan can be used to purchase owner-occupied commercial real estate or fixed assets. The funds can be used to remodel, expand or acquire property as well as purchase equipment. Your bank can finance up to 50% of the cost and SBA will finance up to 40% of the cost, leaving as little as 10% to be covered by the borrower.
Our Trading helps clients run and transform their front, middle and back-office trading operations. We provide buy-side, sell-side and market infrastructure firms with a full-service offering, including systems integration and technology consulting services, to assist in delivering high performance trading and settlement capabilities across all asset classes.
You can view your loan balance at any time per your amortization schedule which was provided to you at the funding of your loan. Your amortization schedule is a breakdown of your monthly loan payment for the life of your loan. If you've misplaced or lost your amortization schedule, you can request a copy at any time by emailing, servicing@txcdc.com.
We are not your competitor; we are your partner! As the largest 504 Lender in Texas, we partner with banks throughout Texas on commercial loans ranging from $175,000 to over $5.5 million. We'll coordinate the entire 504 Loan process and work to ensure everything goes smoothly for your client. Bank's term must be at least 10 years for SBA 20- or 25-year terms, and the bank's term must be at least 7 years for SBA 10-year terms.
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