{"id":3170,"date":"2019-04-06T02:44:13","date_gmt":"2019-04-06T02:44:13","guid":{"rendered":"https:\/\/ccdbusiness.org\/staging\/?page_id=3170"},"modified":"2024-11-20T21:35:21","modified_gmt":"2024-11-20T21:35:21","slug":"frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/ccdbusiness.org\/staging\/frequently-asked-questions\/","title":{"rendered":"Frequently Asked Questions"},"content":{"rendered":"
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If you have additional questions outside of the following, please contact us directly.<\/strong><\/h2>\n

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What is a CDC?<\/strong><\/a><\/h5>\n

A Certified Development Company (CDC) finances business expansion through the purchase or equipment via the SBA 504 Loan Program. CDCs are certified by the SBA to offer the SBA 504 Loan Program. CCD\u2019s professional staff will work directly with you to tailor a financing package that meets program guidelines and the credit capacity of your business.<\/span><\/p>\n

What is an SBA 504 Loan?<\/strong><\/a><\/h5>\n

The United States Small Business Administration (SBA) enables growing businesses to secure long-term, fixed-rate financing for commercial industrial real estate and\/or major machinery and equipment through the SBA 504 Loan Program. The program is designed to promote local economic development by helping healthy, growing businesses finance the acquisition of long-term fixed assets, including land, buildings, and major machinery and equipment. The 504 Program gives small business owners access to the same low-cost, fixed-rate, long-term financing that large businesses have through the bond markets.<\/span><\/p>\n


<\/span>Who is eligible for an SBA 504 Loan?<\/span><\/a><\/p>\n

Independently owned for-profit businesses are eligible if they have a net worth of $15 million or less with an average annual net profit after taxes of $5 million or less for the previous two years.<\/span><\/p>\n


<\/span>How can my SBA 504 Funds be used?<\/span><\/a><\/p>\n

SBA 504 loans may be used for:<\/span><\/p>\n