We can get you the small business loans you need to help your business to reach its full potential. With NEDCO's SBA 504 Loan Program, you can get what you need to really grow. Are you a small-business owner looking to expand your workspace or buy equipment to get the job done? Our goal is to help you grow and reach your full potential.
We provide small business loans that in turn help your company create more jobs for its community, build new infrastructures and repair existing establishments. Find out how we can assist the growth and success of your business. Call our Chief Credit Officer, Jason Culver, today!
We provide small business loans that in turn help your company create more jobs for its community, build new infrastructures and repair existing establishments. Find out how we can assist the growth and success of your business. Call our Chief Credit Officer, Jason Culver, today!
Services
The SBA 504 Loan Program assists small business owners looking to expand their businesses through the purchase of commercial real estate or capital equipment. NEDCO works in conjunction with lenders to provide up to 90% financing for commercial property purchases and construction. NEDCO provides up to 40% of the total project cost with a 10 or 20-year loan, which has a fixed rate of interest for the life of the loan.
There is an initial assessment conducted with the borrower and lender to discuss the project and the SBA loan parameters. The borrower shall complete and provide all documentation needed by NEDCO. The NEDCO staff performs loan underwriting for the project and receives loan approval from the NEDCO Loan Committee.
The interest rates on SBA's 504 loans are set by the market and are fixed to the current market rate at the time the SBA sells the bond to fund the loan. Servicing fees based on the principal are rolled into the monthly payment. The interest rate established by the lender's portion is negotiated directly with the business owner.
Grand Island has recently celebrated the opening of the newest Tommy's Express Car Wash franchise location. Sensing a unique opportunity, owners Dustin Avey, Benjamin Conover, and Matthew Preister looked to capitalize. Armed with a good idea and backing from NEDCO and. Matt Ashmore purchases a building for a permanent location Eagle Printing and Sign partnered with NEDCO to purchase a building for office space in downtown Lincoln.
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