Monroe Funding Corp Providing SBA 504 Loans and Commercial Real Estate Services

USA - English

• USA - English

MIAMI, Aug. 3, 2021 /PRNewswire-PRWeb/ -- The 504 loan program from the SBA gives businesses options to purchase real estate through a long-term fixed-rate; this rate financially totaling up to $5 million to be used towards major fixed assets that will enable businesses to grow.

504 loans can be given out through Certified Development Companies (CDCs), which are community-based partners with the SBA that regulate nonprofits and promote economic development. These institutions must be certified and regulated through the SBA.

Commercial mortgage loan Florida may be used to renovate, remodel, or purchase property to help your business take a forward step in the right direction. To qualify for a 504 loan, your business needs to be for-profit within the United States, have a tangible net worth amounting to less than $15 million, and an average net income of less than $5 million after federal income taxes for the last two years. Other general guidelines include meeting SBA size guidelines, qualified management expertise, a feasible business plan, good character, and of course, the ability to pay back the loan.

For real estate purposes, businesses can use the loan to acquire land and construction on a new property or existing property, remodels, energy efficiency projects, and fees for engineering, appraisals, environmental investigations, closing costs, and any other soft costs associated with the purchase.

Interested in an SBA loan for your business? Get in touch with Monroe Funding Corp by visiting us online to find out more about how we can help you fund your next commercial real estate purchase.

Media Contact

Brian Corey, Corey Consulting, +1 305-967-2404, [email protected]

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SOURCE Monroe Funding Corporation