(PRWEB) February 06, 2015
Capital Access Group (http://www.capitalaccess.com), a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, announced today that it has been ranked as the top SBA 504 lender in San Francisco’s South Bay Area for the first quarter of fiscal year 2015, based on the dollar amount of loans made in the South Bay. Quarterly rankings are provided by the SBA’s San Francisco District Office. Capital Access also announced that it has been recognized by the SBA as the Bay Area’s fastest 504 lender for turnaround time on loan approvals.
Capital Access provided SBA 504 loans to 16 South Bay businesses worth $23.3 million in the first quarter of fiscal year 2015. Capital Access Group’s lending made up 34.3% of total market share in the South Bay region during this period for loans approved in Santa Clara, San Mateo, and Santa Cruz counties.
“We are pleased to be the number one lender in the South Bay,” said Jacklyn Jordan, President/CEO, Capital Access Group. “The SBA 504 program is one of the best financing options available enabling business owners to buy commercial real estate with low down payment, fixed-rate, long-term financing. And with the increasingly strong real estate market, it’s more important now than ever for small businesses to secure their occupancy costs.”
Capital Access was also recognized as the fastest SBA Certified Development Company (CDC) for turnaround time on loan approvals in the San Francisco Bay Area. Capital Access Group’s average turnaround time for loan approval is just 5.8 days—41 percent faster than the average turnaround time of 9.9 days.
“We’re especially proud of our fast turnaround time,” said Jordan. “One of the most important parts of the CDC’s job is to work closely with the borrower to gather the information required to ensure the fastest possible loan approval.”
“Our team of experts is able to get loans approved more than four days faster than the regional average, and three days is a long time when you’re a small business owner purchasing a building in this highly competitive market,” said Jordan.
About Capital Access Group: San Francisco-based Capital Access Group is a leading Certified Development Company, authorized by the U.S. Small Business Administration to provide long-term, fixed-rate financing through the SBA 504 loan program, which offers 90% financing to business owners for the purchase, renovation, or construction of commercial real estate for their growing businesses. Founded in 1981, Capital Access Group has helped thousands of entrepreneurs grow their businesses and realize their dreams of owning their own buildings. Currently, the SBA 504 interest rate is 4.59%, fully amortized and fixed for 20 years. For more information, please visit http://www.capitalaccess.com.