SBA Lending Program
The Small Business Administration’s 504 Program was created in October of 1980 to provide financing for small business expansion. The SBA 504 Program provides funds for up to 40% of project costs for a term of up to twenty years at a below-market fixed rate.
The 504 program is earmarked for healthy, established businesses. It provides financing for land and building purchases, building construction, long-term leasehold improvements, and major equipment purchases. The program is designed for owner-occupied businesses; therefore, the small business must utilize the premises. The project must have a positive effect on employment and jobs must be created or retained because of the project unless a Public Policy Goal is met.
The program is a cooperative lending effort between a private lending institution and CCD Business Development Corporation. The private lender’s rate and fees are to be negotiated independently of the SBA but must be reasonable. The lender’s terms must be at least 10 years. The first deed of trust on all fixed assets financed is the collateral for the private lender.
A great resource for potential borrowers can be found at SBA LINC. This tool allows potential borrowers to answer a few questions about their business and link them to potential lenders. Once entered, free information will be available and provided within 2 business days.
Revolving Loan Programs
CCD Business Development Corporation’s Revolving Loan Fund (RLF) program covers Coos, Curry, Douglas, Jackson, and Josephine Counties. These programs were created to assist with business financing when other financing is not available or a traditional financial institution is looking for a partner to assist their client.
The RLF programs provide financial assistance for the establishment of new business and/or the expansion of existing businesses, the creation of employment opportunities, and/or saving existing jobs. Borrowers can be a legal entity, including individuals, public, and private organizations. Our programs may finance from $25,000 to $250,000 to any one borrower up to 75% of the total project cost. The collateral pledged as security must adequately secure the entire loan. Terms of the loans are based on the use of funds and collateral used to secure the loan. Interest rates are set by the loan committee. CCD charges a $250.00 non-refundable application fee. If the loan is approved and funded, CCD charges a 2% closing fee at the time of funding.
Financial assistance involving RLF loan funds may include, but are not limited to the following:
- Land Costs
- Building Costs
- Equipment Costs
- Working Capital
For more information on how CCD can help you please contact us.
Theresa Haga – Executive Director / Finance Manager – Call: (541) 756-4101
Michele Laird – Loan Servicing Specialist – Call: (541) 756-4101
Louie Robida – Loan Officer / Marketing (SBA 504) – Call: (503) 789-8191 Email: email@example.com
CCD has expanded our SBA 504 Marketing, Packaging, and Servicing team to include:
Lane Council of Governments (LCOG) – http://www.lcog.org
Dan Betschart, Senior Loan Officer – Call: (541) 682-3359 Email: firstname.lastname@example.org
Oregon Cascades West Council of Governments (OCWCOG) – http://www.ocwcog.org
Sandra Easdale, Loan Officer – Call: (541) 924-8460 Email: email@example.com
Illinois Valley Community Development Organization (IVDCO) – http://www.ivcdo.org
Kenny Houck, Marketing – Call: (541) 956-7275 Email: firstname.lastname@example.org
Del Norte Economic Development Corporation (DNEDC) – http://www.delnorte.org
Roxann Haynes, Marketing – Call: (707) 464-2169 Email: loanadmin@dnedc
CCD’s Loan Officer, Louie Robida, is pictured receiving the award.
CCD Business Development Corporation recently received the following award:
U.S. Small Business Administration Portland District
Small Business Week 2017
In Recognition of CCD Business Development Corporation
SBA 504 Lending Excellence
$5.2 Million – 5 Units
CCD’s Board of Director and staff were excited to receive this award!
We would like to acknowledge and thank our lending partners, LCOG, and OCWCOG for their part in receiving this award.
SBA – http://www.sba.gov
Business Oregon – http://www.oregon4biz.com