The 504 Loan Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land, buildings and large equipment.
Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50% of the project cost, a loan secured with a junior lien from the MSBF (backed by a 100% SBA-guaranteed debenture) covering up to 40% of the cost and a contribution of at least 10% equity from the small business being helped.The borrower’s contribution may be greater for new businesses or special use buildings.
The maximum SBA debenture is $5,000,000
Midwest Small Business Finance (MSBF) maintains its own direct loan program, which is the Revolving Loan Fund (RLF). Repayments from loans are returned to the fund to be loaned out again. The focus of this program is to assist existing eligible small businesses located in Clay and Platte counties of Missouri.
Generally, the project assets being financed are used as collateral. Personal guarantees of the principal owners are also required.
Loan amounts range from $25,000 to $150,000+.
Midwest Small Business Finance was selected as 1 out of 20 CDC’s across the nation to administer the ILP loan program. This program allows MSBF to provide fixed-asset funding to small businesses in Missouri and the eastern part of Kansas.
We provide low market rates fixed for the term of the loan. A low down payment of 10% is available on eligible project costs. Long-term financing up to 15 years is available. Fees and closing costs can be added to the loan.
Loan amounts range from $25,000 to $200,000.
WHETHER YOU’RE SEARCHING FOR A $10,000 EQUIPMENT LOAN OR WANT FINANCING FOR A $2 MILLION BUILDING PURCHASE, THERE IS A GOOD CHANCE WE HAVE THE RIGHT LOAN PRODUCT FOR YOU.
WE MAKE IT SIMPLE
We provide financing for the fixed assets your business needs.
FINANCING YOUR BUSINESS CAN BE HARD
Midwest Small Business Finance (MSBF) maintains a direct loan program made available in cooperation with the USDA, which is the Rural Revolving Loan Fund (RRLF). Repayments from loans are returned to the fund to be loaned out again.
The focus of this program is to assist existing eligible small businesses in Andrew, Atchison, Buchanan, Caldwell, Carroll, Clinton,Clay, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Linn, Livingston, Mercer, Nodaway, Platte, Ray and Worth counties in Missouri. The target excludes towns with a population of 25,000 or more.
Loan amounts range from $10,000 up to $75,000.
Midwest Small Business Finance I 1251 NW Briarcliff Parkway , Suite 25 I Kansas City, Missouri 64116 I PHONE: 816-468-4989