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The CDC/504 loan program is a long-time period financing device for economic growth within a group. The 504 Program provides rising companies with lengthy-time period, mounted-fee financing for main fastened belongings, corresponding to tools or real property. The Grow Seattle Fund supplies business owners entry to capital and a complete evaluate of their enterprise investment preparedness. Small Business Administration , the Grow Seattle Fund can work with businesses in the direction of achieving their borrowing objectives with loans from $seventy five,000 to around $2,000,000 . Grow Seattle loans have aggressive charges and phrases with little or no down payment. The Grow Seattle Fund additionally offers free one-on-one business teaching in addition to various workshops, courses, and seminars. Evergreen Business Capital is a non-revenue Certified Development Company that goals to foster economic growth by funding the start-up, development, or enlargement of small companies.

It lends to established nonprofits and growing and begin-up businesses – together with people who don’t qualify for traditional loans. Loans can be found for working capital, inventory and tools, actual property, debt restructure and project financing. It maintains a Seattle office in the Chinatown-International District. Rates and terms vary, and loans range in dimension from $25,000 to $3,000,000. Commercial Real Estate merchandise are subject to product availability and subject to alter.

Actual loan phrases, mortgage to value necessities, and documentation requirements are subject to product standards and credit score approval. For Owner-Occupied Commercial Real Estate loans , a mortgage term of as much as 15 years and owner occupancy of fifty one% or extra are required. Small Business Administration financing is subject to approval via the SBA 504 and SBA 7 programs.

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Utilizing the SBA 504 program, they help with the acquisition or refinance of commercial real estate and enormous tools. For smaller needs, they provide the SBA’s Community Advantage, USDA’s IRP and an in-house Microloan program. Loan sizes vary from $1,000 to $250,000, depending on the program. Loan proceeds can be utilized for working capital, small equipment, inventory, refinancing of enterprise debt, and a wide range of different small enterprise financing wants. Craft3 is a non-bank group lender that’s delivered capital throughout Oregon and Washington since 1994.