BDC has encouraged small business start-ups and business expansions by offering supplemental long-term, fixed-rate loans in partnership with traditional lenders. In supporting entrepreneurs and business owners, BDC is stabilizing and revitalizing our local communities by preserving existing jobs and creating new employment opportunities - more than 6,000 to date in Indiana and Lower Michigan.
The U.S. Small Business Administration (SBA) has designated BDC as a Priority Certified Development Company (CDC), certified to participate on a permanent basis in the program that SBA has approved to participate in an expedited 504 loan and Debenture closing process. Business Development Corporation held its Annual Awards Luncheon in November to honor its "Bank of the Year", "Banker of.
The U.S. Small Business Administration (SBA) has designated BDC as a Priority Certified Development Company (CDC), certified to participate on a permanent basis in the program that SBA has approved to participate in an expedited 504 loan and Debenture closing process. Business Development Corporation held its Annual Awards Luncheon in November to honor its "Bank of the Year", "Banker of.
Services
For over 30 years, Business Development Corporation has been committed to entrepreneurs, small businesses and other companies willing to build and grow in Indiana and Southwestern Michigan. Our primary method of assistance is through the Small Business Administration (SBA) 504 Loan Program. This national financing program recognizes the contributions of expanding small- and medium-sized businesses toward job growth in the United States.
How does BDC help businesses? BDC offers supplemental long-term, fixed-rate loans for the development and expansion of small businesses. We take care of all the paperwork, and work with you and your bank to arrange the right financing package for your business needs. What is the Small Business Administration 504 Loan Program?
Working with BDC to utilize 504 loan financing provides benefits to both lenders and businesses. BDC understands the value of commitment and teamwork. By joining hands with traditional lenders to support the efforts of small business owners and entrepreneurs, all members of the business community will reap the rewards.
If the loan is pre-paying in the first half of its term, the prepayment penalty will be included. The prepayment penalty schedule is determined when the loan is priced and funded and is based on the Debenture Rate. In the first year, the penalty is calculated by multiplying the debenture rate by the outstanding balance.
In addition to 504 Loan Programs, BDC helps small businesses and entrepreneurs find grants and other sources of financing. Through our business expertise and network of contacts, we also help support the growth of new and established small businesses through consultation and putting them in touch with other companies who can provide valuable guidance and assistance.
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