LENDERS ONLY - SBA 504 Loan Program Lunch and Learn
This is a LENDERS ONLY Lunch and Learn event hosted by the SBDC at Cleveland State and presented by the U.S. SBA Tennessee District office and BrightBridge. The topic is the SBA 504 loan program which provides small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization. Acceptable uses for proceeds: Fixed asset financing including land, land improvements, building construction, renovation of buildings, purchase of long-term machinery or equipment. In addition, some projects may qualify for refinancing. Here are a few fast facts for lenders: * The lender takes 50% of the project cost * SBA takes a subordinate position to the primary lender * The lender rate can be fixed or floating * The lender pays a one-time fee, -.5% of the first mortgage permanent loan Join us to learn more about this underutilized program and how it can benefit you and your small business customers. Please limit registration to two attendees from each lending institution. Registration will open once final times have been determined. The date and location will remain the same.
Speaker(s): BrightBridge and SBA Tennessee District Office
Co-Sponsor(s): TSBDC at Cleveland State Community College; Museum Center at 5ive Points
Fee: No Cost