Nybdc Affiliate The 504 Company Named 2015 Community Advantage Lender Of The Year By U.s. Small Business Administration

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Introduction

In 2015, NYBDC affiliate The 504 Company was named the Community Advantage Lender of the Year by the U.S. Small Business Administration. This recognition highlights the organization's dedication to helping small businesses grow and thrive.

What is The 504 Company?

The 504 Company is a non-profit organization that provides financing and support to small businesses in the New York area. They specialize in providing SBA 504 loans, which are designed to help small businesses purchase and renovate commercial real estate.

The Importance of Small Business Financing

Small businesses are the backbone of the American economy. They create jobs, drive innovation, and contribute to local communities. However, many small businesses struggle to secure the financing they need to grow and expand. That's where organizations like The 504 Company come in.

Community Advantage Program

The Community Advantage program is a special initiative created by the SBA to provide funding to underserved communities. The program is designed to help small businesses that may not qualify for traditional financing.

How The 504 Company Helps Small Businesses

The 504 Company is a Community Advantage lender, which means they are authorized to provide loans under the program. This allows them to offer financing to small businesses that may not be able to secure funding from traditional sources.

The Benefits of SBA 504 Loans

SBA 504 loans offer a number of benefits to small businesses. These include: - Low interest rates - Long repayment terms - Lower down payments - No balloon payments

How The 504 Company Supports Small Businesses

In addition to providing loans, The 504 Company offers a range of support services to help small businesses succeed. These include: - Business planning assistance - Financial education - Networking opportunities - Referrals to other resources

The Impact of The 504 Company

Since its founding, The 504 Company has helped thousands of small businesses secure the financing they need to grow and thrive. The organization's impact can be seen in the success stories of the businesses they have supported.

Conclusion

The 504 Company's recognition as the Community Advantage Lender of the Year is a testament to the organization's commitment to helping small businesses succeed. Through their financing and support services, they are making a real difference in the New York business community. If you're a small business owner in need of financing, The 504 Company is a resource worth exploring.