Welcome to CEDCO Small Business Finance Corporation
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The June 2009 THE EFFECTIVE FIXED RATE OF INTEREST FOR THE TWENTY YEAR SBA 504 REAL ESTATE LOAN IS 5.89% Our rate remains low! This rate includes CEDCO's and SBA's fees.
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The American Recovery and Reinvestment Act (also known as "The Stimulus Bill")
President Obama held a press conference on March 16th to describe how The American Recovery and Reinvestment Act (also known as "The Stimulus Bill") and actions by the U.S. Treasury will benefit America's small businesses. These changes are effective today, and some of the fee waivers are retroactive to February 17th-- please call us for details at (800) 843-8852 or your local CEDCO office listed below.
Here's what you need to know--
$730 million have been allocated for programs.
Up to $15 billion have been allocated to increase lending by re-starting the secondary market for 504 first mortgages. This secondary market is the source many banks turn to for new capital, and which was undermined by the finance crisis. These funds should help re-start lending.
Loan fees for borrowers and lenders are eliminated, as long as the program fund lasts. (This will save borrowers about $3,500 per $100,000 of SBA 504 funds).
SBA 504 loan funds may be used, in some circumstances, for refinancing.
If you are a borrower, this may be the most favorable financing ever made available to buy or improve owner-occupied real estate and long-lasting equipment! Call us for details.
If you are a bank or other lender, with the re-start of the secondary market and the elimination of lender fees, now may be the time to capitalize on your bank's lending capacity to gain fee income (if you're a secondary market user), to safely expand your portfolio or to extend your lending limits with 50% LTV. With this enhanced lending capacity, you can increase your deposit base, establish new customer relationships and position your bank to benefit as the economy recovers. In fact, you'll be helping the economy get there.
CEDCO has financed Colorado's small businesses for more than thirty years. Because of our long experience and expert, veteran staff, we have a favored relationship with the SBA that gets stream-lined processing on all new loan applications and any servicing request for existing borrowers. Our goal on every project we finance is to get it done right, to provide our borrowers with the best financing structure; our lending partners with the greatest assurance of closing and funding; and both borrowers and lenders with fast, professional and friendly service.
IN THE MIDST OF FINANCIAL TURBULENCE, THE SBA 504 LOAN FOR REAL ESTATE AND OTHER LASTING FIXED ASSETS IS STILL FULLY FUNDED THROUGH ITS FEDERALLY GUARANTEED BOND AUCTION, AND IT HAS GREAT RATES.
NOW MAY BE YOUR TIME TO BUY!
We make it easy with the SBA 504 loan
Some 504 Loan basics—
- Buy, build, remodel or expand
- From a $150,000 office-condo to a $10,000,000 plant
- Interest rate as low as 5.5%, fixed for 20 years (in 2007 our average rate was about 6.5%)
- 10 to 20 percent down payments
- Most small businesses are eligible
CEDCO has been Colorado's best source of SBA "504 Loan" real estate financing since the early 1980s--now we can offer the same great financing in parts of New Mexico, Utah and Arizona. Please call Edie (as in Edith, not Edward) at our Four Corners Office for details. Her number is below.
Meanwhile, you don't have to wait for our new website to find guides, applications and other useful information.
You can download our Pre-qualification packet here. Download and complete this packet, call the CEDCO loan officer nearest and we can let you know within one business day if your business is eligible for 504 financing and whether or not we believe your loan is "do-able." This is not a formal loan approval, but it is a very good indicator of your prospect for a loan. Our full application process up to a formal approval of your loan generally takes between five and thirty business days, depending on the complexity of your project and company, and how quickly you can furnish information. See our application or borrowers guide for a complete list of what we need and a description of the loan approval process.
Or better yet, just call us and talk things over. We're an SBA Certified Development Company--which means we are lenders, not just loan-packagers or brokers--specially licensed by the U.S. Small Business Administration to make these loans. We regularly outperform SBA standards and our industry peers for quality of service and quality of loan portfolio. We have more than a hundred years combined experience in our staff--we're SBA loan experts so you don't have to be.
Our full 2009 Application is available here.
Our Prequalification Packet is here (abbreviated application)
Our 2009 Borrower's Guide is available here.
And our 2009 Lender's Guide is available here.
Other forms, including--
Please call and talk to us directly for further help.
New Loans--
- Front Range and Mid-mountains call Sean or Mary Jane (303) 893-8989
- Western Colorado call Pat (970) 243-1861
- Four Corners area call Edie (970) 264-0496
Servicing--
- Kay at (303) 893-8989 ext. 107
Closing--
- Donna at (303) 893-8989 ext. 106
- Karen or Pat at (303) 893-8989 ext. 103
Administrative--
- Bill at (303) 893-8989 ext. 102
GREEN YOUR BIZ!
504 LOANS NOW HELP FUND ENERGY EFFICIENCY IMPROVEMENTS!
Small businesses may qualify for larger SBA-504 loans on commercial real estate
up to $4 million under new SBA energy goals.504 financing used to purchase, construct, convert or expand a building need only meet one of these two goals:
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Reduce energy consumption by at least 10%, OR
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Generate renewable energy or renewable fuels
Call for details!
800-843-8852